Wise to tell bank in advance?

oldwiring

Shortly my wife and I will be revising our investments and that will mean large amounts passing through our accounts.

In view of some of the tales of suspended accounts is it a good idea to inform the bank before the transactions commence?They could stretch over a couple of months.

[Deleted User]

Definitely, yes.

agrinnall

How much are you talking about, and is the money going to be coming from reputable UK sources? I personally wouldn't worry about it unless there is a reasonable fear that you would be suspected of money laundering. And if that suspicion is likely then I doubt if telling the bank will make any difference, pretty much everything happens automatically without human intervention anyway.

oldwiring

All will come from various banks and respected ISA and insurance entities; overall, say £170K.

jonesMUFCforever

Ask the bank to put a note on their systems saying what you put on here - then if somebody does think something is suspicious they can refer to the note.

GingerBob_3

Paranoia of the banks regarding money laundering is now rubbing off on their customers. How far will this go? We're pretty much at the point now where all customers are considered to be potential criminals (by the criminal banks).

colsten

In the present climate, with drug dealers and terrorists abound, most people would be horrified if banks didn't check any large and/or unusual transactions, and stop those that look suspicious.

OP, it won't do any harm if you advise your bank of any significant movements. They will still check your transactions, but the information you provide them with might help with any investigation.

agrinnall

I moved pretty much that exact amount around last year without attracting any attention at all.

GingerBob_3

colsten wrote: »

In the present climate, with drug dealers and terrorists abound, most people would be horrified if banks didn't check any large and/or unusual transactions, and stop those that look suspicious.

OP, it won't do any harm if you advise your bank of any significant movements. They will still check your transactions, but the information you provide them with might help with any investigation.

You forgot to mention pedophiles.

DigForVictory

I'd tell the bank. As while automated responses *can* be overridden by humans.
It's getting through to the right bit of the bank (and possibly having to make an appointment to do so) that gets me down.

System

The hordes are waiting for Brexit

:rotfl:

colsten wrote: »

In the present climate, with drug dealers and terrorists abound, most people would be horrified if banks didn't check any large and/or unusual transactions, and stop those that look suspicious.