£8000 cash from Santander

Archi_Bald

r2015 wrote: »

But my dealer doesn't want £100s

Quite understandably, as he might have to answer questions about the money when he comes to spending it. Could become uncomfortable.

Bloomberg

Ballard wrote: »

Banks are obliged under anti money laundering legislation to ensure that no payments (whether cheque, electronic or cash) are for the purposes of an illegal activity. Being as electronic payments (such as faster payments) are easier to do than withdrawing the cash they have to be suspicious. They will want to know why you are withdrawing that amount of cash. Is it to evade tax, for instance?

If they are not convinced that the cash is for a legitimate activity they do not have to comply with your request and may report it to the authorities.

Thanks for that insight. If I am not mistaken in days of old it was only large deposits which were questioned. Now it seems that they are covering all angles. Thanks again for your reply.

zerog

r2015 wrote: »

Would they consider it suspicious if I transferred £1000 into an account which had a zero balance and withdrew the £1000 over a week?

Or even if I instead walked into a branch to withdraw £900 at the counter then £100 from an ATM?

They'll probably close your account without warning.