Money Laundering

ChezW

Good Afternoon
I wasn't sure where exactly to post this, so I thought this was probably the best place to start!
My partner has been trying to transfer me a large sum of money for a number of months now, and has, in the last two weeks, had an interview with the Fraud Dept of his bank and they belileve they have finally gotten to the root of the problem. (Many mistakes trying to arrange the transfers have led to the belief that my partner is a master criminal!).
Anyway, we were told that the funds are now with my bank, but they haven't been applied to my account. I have been told that this can take a number of days. Would anyone know how long the bank can legally hold the money before transferring it to me?
It is getting silly now and it's causing lots and lots of problems and arguements at home.
If anyone can offer some advice I would appreciate it.
Thank you

Lokolo

BACS transfers take 3 working days.

They most probably aren't holding the money, its just in limbo.

dunstonh

Sounds like a clearing delay now. If its a different bank and it was sent manually then that would take 3 days.

ognum

Have you told your bank you are expecting the money, where it has come from, how the person transfering it obtained it and why he is transfering it to you?
Banks need this information for money in as well as money out in order to fulfil their obligations as far as money laundering is concerned.
I have in the past needed to transfer sums in the UK and out to banks in other countries and have always been asked this information.
It is much better to phone and talk to your bank rather than wait for them to ask you.