NatWest holding my cash to ransom

colsten

ChiefGrasscutter wrote: »

Or for another example help evade taxes - as in I need to pay my builder in cash...yeah right.

It's not the bank's job, nor is it yours or mine, to ensure that Builders pay their taxes

POPPYOSCAR

colsten wrote: »

It's not the bank's job, nor is it yours or mine, to ensure that Builders pay their taxes

Exactly.


Cash is legal tender, so how you pay someone is irrelevant.

Ballard

colsten wrote: »

It's not the bank's job, nor is it yours or mine, to ensure that Builders pay their taxes

The point is that if you are questioned on why you want to withdraw a large amount of cash and your reply is that you need it to pay a builder this would be evidence enough for the bank not to give you the cash.

POPPYOSCAR

Ballard wrote: »

The point is that if you are questioned on why you want to withdraw a large amount of cash and your reply is that you need it to pay a builder this would be evidence enough for the bank not to give you the cash.

That is ridiculous.


You can pay someone in cash, it is for them to declare it.


We run a business and sometimes get paid in cash, and yes we bank it the same as a cheque.

shortcrust

Ballard wrote: »

The point is that if you are questioned on why you want to withdraw a large amount of cash and your reply is that you need it to pay a builder this would be evidence enough for the bank not to give you the cash.

Eh?! What nonsense. You are actually allowed to pay builders in cash and builders are perfectly capable of running cash through their accounts and paying relevant taxes.

colsten

Ballard wrote: »

The point is that if you are questioned on why you want to withdraw a large amount of cash and your reply is that you need it to pay a builder this would be evidence enough for the bank not to give you the cash.

What do you consider "a large amount"? I have at various times paid my Builders in cash in the last couple of years. Sums involved were up to £5K, and the banks were Santander, Lloyds and Nationwide. Only Lloyds asked once what the money is for - and they seemed to be more concerned that I wasn't being forced by someone to give them cash.

It's usually a good idea to ring ahead if you want more than £2K as particularly smaller branches don't always have sufficient cash in their safe.

jonesMUFCforever

But why would you want the hassle of having to go down to your bank to physically withdraw cash (and all your personal security issues) rather than send money to them electronically or hand them a cheque?

starM

I don't see a problem withdrawing large amount of cash to pay builder if invoice is provided and shown in the bank. Although bank may say to pay builder by cheque or bankers draft for guaranteed payment.

POPPYOSCAR

colsten wrote: »

What do you consider "a large amount"? I have at various times paid my Builders in cash in the last couple of years. Sums involved were up to £5K, and the banks were Santander, Lloyds and Nationwide. Only Lloyds asked once what the money is for - and they seemed to be more concerned that I wasn't being forced by someone to give them cash.

It's usually a good idea to ring ahead if you want more than £2K as particularly smaller branches don't always have sufficient cash in their safe.

When we did our transfers the other day Santander had to read out blurb about 'police will not ask you to post bail for a friend' and so on.


We had to listen to it twice as we were both doing a transfer.


It seems to all be about ticking the boxes and following certain procedures, common sense does not come into it.

Ballard

colsten wrote: »

What do you consider "a large amount"? I have at various times paid my Builders in cash in the last couple of years. Sums involved were up to £5K, and the banks were Santander, Lloyds and Nationwide. Only Lloyds asked once what the money is for - and they seemed to be more concerned that I wasn't being forced by someone to give them cash.

It's usually a good idea to ring ahead if you want more than £2K as particularly smaller branches don't always have sufficient cash in their safe.

£5,000 isn't a large amount. I've taken out that sort of amount without question before. I'd say £20,000.

You can pay a builder however you like but it makes no sense to pay a builder £20,000 cash so the bank will be suspicious.