Money found in the loft

robwend

maninthestreet wrote: »

If you try to pay in £8,000 in cash to a bank account you can be sure that the bank involved will report the transaction to the relevant authorties as suspected money laundering.

no they wont. ive paid in 25k cash before. didnt blink a eyelid

Fire_Fox

You could hand the money in to the police saying you found it and where, if any item isn't claimed after a few months then it's yours to keep. I don't believe the police go around trying to find the rightful owner and, given that she is deceased, it's pretty unlikely she will come looking for her stash of used notes!

SailorSam

I think the bank would be more suspicious if you were a new customer trying to open an accont, but for a good existing customer it's not as if £8k is a fortune.

happyhunter

robwend wrote: »

no they wont. ive paid in 25k cash before. didnt blink a eyelid

Why should they blink an eyelid? They will just accept the deposit and do the checks afterwards. You will only be contacted if they have reasons to believe you are money laundering.

hells_2

maninthestreet wrote: »

If you try to pay in £8,000 in cash to a bank account you can be sure that the bank involved will report the transaction to the relevant authorties as suspected money laundering.

No they won't.
They will want to know the source of the funds. As you are paying into your own account it's very unlikely anyone will question you.
No reason for a member of bank staff to flag a suspicious transaction for £8k!

Idiophreak

noh wrote: »

I would return it to her executors.

Seconded.

Old lady probably saved that money for years to give to her family one day, or to her cat charity or whatever else she had in mind. I very much doubt she thought "one day a stranger will buy this house and have a right treat". I couldn't enjoy the money knowing it didn't belong to me.

Milliewilly

Depends on the bank - some will want to know where the money has come from and it is in 'old' style notes too.

Banks hate handling cash because it needs someone to count it in and sort it they would much rather everything was done electronically.

clutton_2

it clearly belongs to the estate

prudryden

happyhunter wrote: »

Why should they blink an eyelid? They will just accept the deposit and do the checks afterwards. You will only be contacted if they have reasons to believe you are money laundering.

In fact, it is against the law to alert someone who has carried out a suspicious transaction. The transaction most certainly would have been reported to the bank's MLO (Money Laundering Officer) and a
a SAR (Suspicious Activity Report) would have been filed with the proper gov't department.

googler

Idiophreak wrote: »

Old lady probably saved that money for years to give to her family one day, or to her cat charity or whatever else she had in mind. I very much doubt she thought "one day a stranger will buy this house and have a right treat".

Seconded, and depending on your/his belief system, you may fear that the old lady will come back to haunt you/him if the right thing isn't done with the money......

Then again, there's no evidence to support the theory that the money belonged to the LAST owner of the house. Opens up another can of worms if we speculate that it was stashed by the previous owner, or the owner before that......