Paying in large amounts of cash

Steve_xx

jimjames wrote: »

I think that might cause more issues, paying in a constant stream of cash. I had no problems with £10k cash and have done similar amounts before with no issues either.

Not in my experience. But I note what you say about yours. But frankly, I wouldn't go into a bank with 10k all at once.

GingerBob_3

Herbalus wrote: »

More than likely the poor cashiers would be stuck in the middle of angry customers and branch management (who are on strict instructions to follow procedure from their compliance department).

Banks are complicit in law if one of their customers launders money through them, and no amount of swearing at anybody is going to change that.

Yes, this money laundering cr*p has really got out of hand. Of course with the banks asking such ridiculous questions of all their customers, the actual money launderers will steer well clear and make other arrangements, which will no doubt be even more difficult to track down.

jimjames

Steve_xx wrote: »

Not in my experience. But I note what you say about yours. But frankly, I wouldn't go into a bank with 10k all at once.

I'd rather have the money in the bank as soon as I could both earning interest (however small) and more importantly secure. I had a perfectly reasonable explanation for the cash if I'd been asked, if I didn't then I guess I may have been more cautious but I can't see any reason to not pay money in if it's legitimate.

Steve_xx

jimjames wrote: »

I'd rather have the money in the bank as soon as I could both earning interest (however small) and more importantly secure. I had a perfectly reasonable explanation for the cash if I'd been asked, if I didn't then I guess I may have been more cautious but I can't see any reason to not pay money in if it's legitimate.

I take your point and I guess any explanation would be accepted. I've not heard any news stories about bank staff alerting the police because someone came into the bank with 10k!

But they are definitely inquisitive these days, more so than ever before. Sometimes I've moved sizeable sums between my own accounts online, or opened a new account somewhere because it pays a better rate of interest, and then moved a large sum all in one go only to find that the payment has been halted and I've had to have a conversation with their checkers to get the funds released and they do ask searching question that really are quite uncomfortable.

planteria

i entirely agree with jimjames. if i have a significant lump of cash i just pay it in..and if asked, answer. no problems.

Steve_xx

planteria wrote: »

i entirely agree with jimjames. if i have a significant lump of cash i just pay it in..and if asked, answer. no problems.

....and have they ever asked?

Westie983

GingerBob wrote: »

The stock answer to that one should be "Mattress. Now f*** off and get me MY money!"


If that was the common response they'd soon get the message and mind their own business.

your right I don't care what you reply I just write down what you say, I have followed procedures by asking I really couldn't care less how you came to have the money but as you put it mind your own business I wish this was a solution as it would mean I don't get confrontation when asked.

Westie983

In reply to the OP, hence my contribution, just pay in the 10 - 20k and answer the questions when asked but as I've mention its unlikely they will question you till you go to make a large withdrawal.

As others have said get interest on the money as soon as possible pay it the full amount rather then drip feeding the amount.

TBH if I saw lots of drip feeding amounts of 1.5k every day into a account this would raise more suspicion then the 10k credit, after all people cash in shares, sell property, sell cars etc and this can be in cash....

Goldiegirl

GingerBob wrote: »

The stock answer to that one should be "Mattress. Now f*** off and get me MY money!"


If that was the common response they'd soon get the message and mind their own business.

If you'd said that to me at my till, I'd have put in a money laundering report on you, on principle.

Reason, acting suspiciously when asked for the origin of the money.

Believe me, the cashiers aren't asking for the good of their health, and they'd love to tell stroppy customers to f*** off

BMN

Westie983 wrote: »

...its unlikely they will question you till you go to make a large withdrawal...

20k cash deposit and no questions - yeah right. If that's the case the cashier isn't doing their job properly.