Why do the Halifax want to know where my money is from?

sugarcane

Ok
So i have just been to the Halifax to send £3600 with an international transfer for land purchase. No problems with that. I paid a cheque into my account a week earlier for £4000 to cover the transfer. The cashier asked me where the £4000 had come from and i told her it was none of her business, she says that she must ask for security reasons. I dont know why but this made me a bit angry:mad: What has where MY money has come from have to do with them? It felt like i was being interigated by the IR.

Is it just me or do other people find this kind of questioning Out Of Order!

diesel9181

i had the same problem when putting a deposit on a house. they wanted to know where it was from, who from, what for.............. they said its something to do with money laundering. it totally pi55ed me off tho, they were so patronising. i was reluctant to say what it was about cause they were so annoying. just forget it (til next time!

regularsaver1

They need to know about deposits into the account for money laundering regulations. they are just doing their job

especially if the money is going out a week later after being deposited

they have to look for any irregular transactions - I guess this is not a regular thing

tomstickland

Just make up any old crap to fulfill the obligation.
"oh it was from an armed robbery I did last week."

jonesMUFCforever

It is because of money laundering rules.
The clerk could be jailed if it was found that he/she had been negligent when taking your instruction and later to be found to be money laundering.
The only way to find out is by asking!

IMO most people don't mind explaining what it is for or where from. Some obviously don't. If I have any doubt about a customer transaction then I fill in the appropriate form and hand it to my manager. What happens next is of no matter to me - I have done my job, if it is money laundering then by completing the form I'm in the clear!

I do hope that those who complain have no skeletons in the cupboard - you never know when or if you are been investigated by the bank's monitoring unit as well as HMCR.

tomstickland

I have no skeletons in my closet, but I object to the constant bleating about "money laundering". It's rather like the number plate laws; your typical person has to !!!! about with forms and certificates whilst anyone wanting to make fraudulent plates would have much better ways of doing it.

regularsaver1

At the bank I work at if I am suspicious in any way I have to report this and send this up

I must not discuss with any colleague or my manager. Surprised you hand the form directly to your manager ejones

If I do not report this could come back on me. I am not a cashier but I was at one time and it is the same now

The way the bank looks at it is no answers to this and other secuirty questions - and sometimes proof is required for where funds have come from, then no funds given

sugarcane

HMCR? At what point does this info get passed on to Gordon Brown.

regularsaver1

I think he meant HMRC - HM Revenue & Customs - originally Inland Revenue

they can request info on your accounts

jonesMUFCforever

regularsaver1 wrote: »

At the bank I work at if I am suspicious in any way I have to report this and send this up

I must not discuss with any colleague or my manager. Surprised you hand the form directly to your manager ejones

If I do not report this could come back on me. I am not a cashier but I was at one time and it is the same now

The way the bank looks at it is no answers to this and other secuirty questions - and sometimes proof is required for where funds have come from, then no funds given

I hand it to manager - he/she will 'take a view' about whether to take it further (has to sign the form with comments) if manager decides no further action it gets filed in branch, if not then off it goes to the monitoring section together with details of the transaction requested.

someone

sugarcane wrote: »

I paid a cheque into my account a week earlier for £4000 to cover the transfer.

Should have told her it was written on the cheque