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Safely moving a large bank account

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Comments

  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    G_M wrote: »
    An alternative is to arrange ahead of time for a cash withdrawal. Take a briefcase, jump in the car, and pay in smae day. All within your own control - cash is never out of your sight. Job done.

    Just tell us when and where you're doing it!
  • LSEdwards
    LSEdwards Posts: 129 Forumite
    If you are concerned about the bank losing your money then are you not also wary of depositing more than £50k in any one bank? What if the bank goes down?
  • jayship
    jayship Posts: 387 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    When it comes to house buying and selling Solicitors transfer money in tens of thousands via BACS. Hence I presume it is a safe method. You may want to speak to your bank for best advice.
  • agsnu
    agsnu Posts: 1,457 Forumite
    jayship wrote: »
    When it comes to house buying and selling Solicitors transfer money in tens of thousands via BACS.

    Typically they use CHAPS, I think.
  • musehead
    musehead Posts: 389 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I had just under £100k paid to me by BACS last week by NS&I. Got a bit worried when it didn't arrive until the 6th working day!
  • londonman81
    londonman81 Posts: 1,130 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    musehead wrote: »
    I had just under £100k paid to me by BACS last week by NS&I. Got a bit worried when it didn't arrive until the 6th working day!

    This is the sort of thing I worry about....
    "To be ignorant of one's ignorance is the malady of the ignorant." Amos Bronson Alcott
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