Is there a maximum amount you can pay into someone's account?

Jbc

Not sure if this is the right forum for this question, but I wondered if there is a maximum amount you can pay an individual into their bank account?

For example, could you pay £25,000 into someone's personal account, or would you have to start completing paperwork/declaring it/the recipient has to declare it/tax etc?

Aquamania

https://forums.moneysavingexpert.com/discussion/4997980 :cool:

Fruit_and_Nut_Case

Aquamania wrote: »

https://forums.moneysavingexpert.com/discussion/4997980 :cool:

You wait all day for a question and two come along at once.

grumbler

Formally there are no restrictions, but nowadays even much smaller amounts can trigger AML 'investigations' that can result in the account being frozen for many days if not weeks.

Jbc

Thanks grumbler.