Justify accessing money

Bryando

Is it correct a bank can refuse to hand over a large sum to the account holder unless they can prove the purpose of such withdraw?

If so think getting my safe bolted down could be in order!

duchy

Yes


https://forums.moneysavingexpert.com/discussion/5386136

Flobberchops

As mentioned in the other thread linked above, banks have to walk a fine line between being vigilant and inconveniencing legitimate customers. You can decrease your chances of flagging up anti money laundering suspicions by notifying your bank a couple of days in advance of the amount and denominations you'll need.

It's also maybe worth asking yourself whether you *do* need to withdraw a large amount in cash? An electronic transfer or a cheque/bankers draft would both be more secure, and would avoid getting mugged, leaving your bag on the bus, etc!

If in doubt though, just tell them it's for a car or building work.

colsten

Flobberchops wrote: »

If in doubt though, just tell them it's for a car or building work.

You should only do this if that is the truth. You might get asked for proof, and it won't help you if you made up some story.