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Do banks query contents of bank statements often?
marathonic
Posts: 1,797 Forumite
For example, would they query large deposits? I'd have two large deposits in my last 3 months bank statements.
Basically, I have an account with an online stockbroker where my funds are held in three currencies - US Dollars, Euros and Pounds. All of my deposit money was in this account up to 2 months ago.
They offer very good exchange rates so, when a relative had 6k sterling to transfer to euros, I offered to do it via my account. He gave me the 6k cash, I lodged it into my UK account and then withdrew the value in euros to my Irish account and gave it to him. The remainder of my deposit will be transferred directly to my UK account from the online stockbroker.
Also, do they query if there are months over the past few months where you didn't have an increasing balance, i.e. although you have the 25% deposit in place, for one of the past 3 months, you had NO savings. The withdrawals for this month were primarily cash ATM withdrawals.
Basically, I have an account with an online stockbroker where my funds are held in three currencies - US Dollars, Euros and Pounds. All of my deposit money was in this account up to 2 months ago.
They offer very good exchange rates so, when a relative had 6k sterling to transfer to euros, I offered to do it via my account. He gave me the 6k cash, I lodged it into my UK account and then withdrew the value in euros to my Irish account and gave it to him. The remainder of my deposit will be transferred directly to my UK account from the online stockbroker.
Also, do they query if there are months over the past few months where you didn't have an increasing balance, i.e. although you have the 25% deposit in place, for one of the past 3 months, you had NO savings. The withdrawals for this month were primarily cash ATM withdrawals.
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Unusual activity might well be questioned or factored into a lending decision.0
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