I have 10k in cash will i get in trouble if i go to my bank with it???

Argghhh

car sale - 10k is not unheard of for a 1 off deposit -

System

The cash savings are still not illegal.
Not disclosing them on a benefit claim might be.

Mojisola wrote: »

As long as you're not claiming means tested benefits while having thousands in cash at home.

thegrind

They sometimes ask you to conform to money laundering regulations. A bit like an airport if you look a bit shifty then be prepared to be pulled aside and asked questions

Firstly people that launder money do not tend to walk into a bank to deposit it. Theyre a bit more sophisticated than that.

Secondly a mother putting some cash savings into her sons account in the UK aint gonna look too dodgy.

Honest people have been conditioned by the government to not deal with cash so they can tax and monitor you on it. Thats why your feeling guilty theres nothing dodgy about using "real money" unless it is the proceeds of crime.

peterpan01

I would be concerned too. I used to work in a bank and we were told to raise the flag on these types of transactions. Its not just the bank staff, computers behind the scenes also monitors the accounts.

Its best to be honest and open. Go to the bank at a quite time and hand it all in one go.
If you would hear anything after a year. your fine, lol.

It worries me too. I don't like the bank system (rich getting richer/poor getting poorer) and i don't believe in taking interest so we buy gold and art. If we sold the gold or art, i wont feel comfy banking the money.