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Depositing £100+k in my bank - Do I need to inform them?.
sjw64
Posts: 290 Forumite
Hi
Im expecting to recieve £130k into my current account (Nationwide) in the next few weeks. Ive read somewhere that I need to imform them, is that correct? Ive searched & cant find anything.
Thanks
Im expecting to recieve £130k into my current account (Nationwide) in the next few weeks. Ive read somewhere that I need to imform them, is that correct? Ive searched & cant find anything.
Thanks
0
Comments
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There is no need to inform them.0
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I would inform the bank that you are expecting the funds and the source.0
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An alternative approach could be to contact Nationwide. After all, they'll defintely know whether you need to inform your building society, who is...er, Nationwide
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Better to be wise before a potential financial disaster than sorry afterwards
DFW'er - Lightbulb moment : 31st July 2009 - £18,499
28th October 2019 - £13,505 - 27% paid off.
Demolishing my House of Debt.. one brick at a time!!
Thinking of spending???..YNAB says "NO!!!!"0 -
Is it coming from a reputable source? I had over £120K paid into my Nationwide account by my solicitor on the sale of my house without telling them it was coming and with no problems whatsoever.0
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IMO they will contact you just to make sure that the money is going into the right account bla.h blah blah0
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To receive no...but if you want to use it/move it later you will invariably need a conversation with with.0
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jonesMUFCforever wrote: »IMO they will contact you just to make sure that the money is going into the right account bla.h blah blah
which will be a thinly veiled attempt to sell you something on which they have a focus. Nationwide are into punting their investment offerings atm. I would decline any offer from them as they only have a fairly restricted set of investments, and these have excessive charges.0 -
Thanks all ..I'll give them a ring next week sometime.0
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How will they know the source is 'reputable' or not?Is it coming from a reputable source? I had over £120K paid into my Nationwide account by my solicitor on the sale of my house without telling them it was coming and with no problems whatsoever.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Archi_Bald wrote: »which will be a thinly veiled attempt to sell you something on which they have a focus. Nationwide are into punting their investment offerings atm. I would decline any offer from them as they only have a fairly restricted set of investments, and these have excessive charges.
...beat me to it - when my redundancy package was paid into my NatWest account a few years ago, I got an immediate phone call.....which rapidly turned into a selling opportunity!!!:rotfl:0
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