parents transferring £5k to me?

rainbowfairydust

Hey

I bank with natwest, and my parents (who live on the IOM) are transferring £5k to me at the end of November. I just wondered if i will need to let my bank know? I dont want them to freeze my account.

Thanks

InsideInsurance

Its unlikely to cause your account to freeze. You can mention it to Natwest if you want if it is out of the ordinary sums to be flowing through your account but I used to transfer circa £10k a month through my account and never had a problem (not even the first time I did it)

Mrs_Arcanum

With the current OTT reactions from banks to unusual monies being deposited some have been reporting I would definitely tell NatWest. Better safe than frozen.

innovate

Mrs_Arcanum wrote: »

With the current OTT reactions from banks to unusual monies being deposited some have been reporting.....

Seems I have missed that - do you have links to the reports?

agrinnall

It can't hurt to tell them, but the chances of the information actually reaching a person who might be in a position to decide to freeze an account is remote. Most likely is that the transfer would be delayed while the source is checked, and the decision to refer the transaction for checking would almost certainly be done by software, so there's no way to prevent that.

CLAPTON

difficult to believe 5,000 will cause a problem unless there is something special about IoM.

find it difficult to believe telling a call centre will do any good either; what will they do with the info?

Sailmakers

5k is small beans to a bank, chill...

Mrs_Arcanum

innovate wrote: »

Seems I have missed that - do you have links to the reports?

Here is one https://forums.moneysavingexpert.com/discussion/4115225