Bank asking source of money;name, address, bank name, card no

Trajan

Hi to all


I deposited around 8K into my bank (Natwest) account few days ago and today I got a letter asking me to call the bank urgently.

I called them up today and they wanted to know where the money came from. They informed me that my money was frozen until I give details of the source of the money.

I said someone owed me money and they wanted the person's details.

They want the

name of the person
address of the person
name of the bank money was withdrawn from
long number on the person's bank card
(if possible she mentioned sort and account numbers)


I understand its for money laundering purposes, but isn't this too much?

They didn't ask me the source of money when I deposited it. Last time they asked me was on the counter and I just gave a simple answer (gift) and they accepted it.

Is it compulsory to provide a specific person's bank details.

What if the person is unreachable, left the country or dead?What if the person doesn't want to give his personal bank details?
What if I just saved the money under the mattress over a long term?
What if I won the money at a casino or gambling?

What If I found it?Do I have to give a specific person's name/address and account details to have my money back?

I will be very glad if someone can shed some light on this issue.
Tnx in advance

[Deleted User]

Trajan wrote: »

What if I just saved the money under the mattress over a long term?
What if I won the money at a casino or gambling?

Then you would tell them that?

Trajan wrote: »

What If I found it?

Do you want to go to prison? If you found the money then you have probably committed theft: http://news.bbc.co.uk/1/hi/magazine/8129534.stm

giblet10

Sadly out of control anti money laundering regs have caused this - count yourself lucky - some people simply have their accounts closed and told to do one..

BMN

I'm assuming it was cash and not a cheque.

How did you deposit the cash this time?

Trajan

I deposited it in mostly 20 pound notes.

If they were to close my account would I be able to get my money back?

If I say I won it in a casino or gambling wouldn't they now ask for some kind of proof/receipt?

I didn't find the money by the way. I am just providing scenarios.


I wanna know what kind of answers would be satisfactory for the bank.

marvin

BMN wrote: »

I'm assuming it was cash and not a cheque.

How did you deposit the cash this time?

A cheque makes no difference the two times I have had this both were cheques both with a solicitors name and logo on the cheque..

somethingcorporate

Trajan wrote: »

I wanna know what kind of answers would be satisfactory for the bank.

Truthful ones.

DStu

Trajan wrote: »

I wanna know what kind of answers would be satisfactory for the bank.

The truth?

Trajan wrote: »

I said someone owed me money and they wanted the person's details.

You seem to have answered your own question.

Trajan wrote: »

What if the person is unreachable, left the country or dead?What if the person doesn't want to give his personal bank details?

That's a lot of what ifs.
Why not just actually try and give them what they're asking? If any of those "ifs" turn out to be true, tell them. It all seems very simple.

Trajan

What if the person who I lent money to doesn't wanna give his address and bank details?

What If he has a market and paid me money from his safe?

Banks wants the person's bank details.

Does the money need to come from a bank account for the bank to accept my answer as legitimate?

[Deleted User]

Trajan wrote: »

Does the money need to come from a bank account for the bank to accept my answer as legitimate?

They need to be satisfied that your answer is genuine and that the money did not come from an illegitimate source (crime etc.). Tell them the truth and if it's not suitable then you're going to have to open an account with a different bank, they can't take the money from you but they can deny you any further service at the bank. If you have no proof of where the money came from (or can't provide proof) then you're going to have to give up and move to a new bank, because what they want is proof (a paper trail).

DStu

:doh:
Either you genuinely didn't read my post, or you're trying to be funny.

What if a local shop was recently robbed of £8k? What if some of those notes were found to be fake?
What if instead of trying to shy away from the bank you actually spoke to them and gave them all the information you can to satisfy their curiosity?