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Question about large cheque

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  • System
    System Posts: 178,349 Community Admin
    10,000 Posts Photogenic Name Dropper
    Just take any letter attached to the cheque when depositing.

    I've deposited six figure cheques and all that was (politely) asked was the source. I did offer the solicitors letter enclosed but they were happy with the verbal explanation.

    If it's HSBC, be prepared to for an uphill struggle though.



    Mrs_Ryan wrote: »
    Hi all
    Very quick question on behalf of OH. He has a savings bond which is maturing and he's cashing it in. He will be depositing a large cheque (5 figures) into his Barclays current account. This is very out of character for him- he is constantly teetering on the edge of his £1400 overdraft- do we need to let the bank know that a big cheque is coming and presumably we will need to show them the paperwork the company will send to us?
    Neither of us are used to credits of this size! Thanks.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • GingerBob_3
    GingerBob_3 Posts: 3,659 Forumite
    Heng_Leng wrote: »
    Just take any letter attached to the cheque when depositing.

    I've deposited six figure cheques and all that was (politely) asked was the source. I did offer the solicitors letter enclosed but they were happy with the verbal explanation.

    If it's HSBC, be prepared to for an uphill struggle though.

    Surely, in answer to the impertinent question "where did you get the money from (you potential criminal lowlife scum)" the answer is simply "from the originator of the cheque (you arrogant, nosey, incompetent buffoon)".
  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    I paid in a fairly large cheque (5 figures) a couple of years ago. Nobody questioned where the money came from, just paid it in as normal. The only question asked was if I would like to open a savings account for the money.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Heng_Leng wrote: »
    Just take any letter attached to the cheque when depositing.
    The problem is that the cashier can check the letter, but has no means of 'attaching' a copy or even a note to the transaction.
    Normally a cashier will just take your word for it, no letter is needed.
    It's later some bored pinkerton in the back office that will block the account, and for him the letter will be not sufficient:
    Last week I received a cheque for over £7000 from HRMC for a tax rebate. I put it in my account at Santander.... . However on Wednesday of this week I received a phone call from the fraud department from Santander asking me to prove this cheque was genuine and then asked me why I had received it. I had no problem in answering the ridiculous questions and have taken into branch the accompanying letter that arrived with the cheque along with other forms of ID. ...Anyway ...my card ....denied ....I rang the bank to be told all my accounts had been frozen pending the authenticity of this cheque. ....
    I have to contact HRMC ....to send me a letter confirming this cheque is genuine and why they have sent it and what their reasons are for this rebate....
    Yes ive taken the attached letter but they want another one stating why I'm being given this cheque.
    Heng_Leng wrote: »
    I've deposited six figure cheques and all that was (politely) asked was the source. I did offer the solicitors letter enclosed but they were happy with the verbal explanation.
    Yes, freezing isn't a norm, but a person with one current account doesn't want for no reason fall into, say, 1% unlucky customers whose accounts get randomly frozen.
  • Ballard
    Ballard Posts: 2,983 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    It seems that I was wrong all along. I thought that only a very small minority of the population had problems with bank accounts being frozen but thanks to Grumbler I now know that 1% of the population (600k+) suffer. Something has to be done about this.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 21 April 2016 at 10:47PM
    Don't misquote me. What I actually said was, "say, 1%".
    Does it really make any essential difference or you are just nitpicking?

    The real question is "how", not "how many". Like the majority of "population" I have never deposited really big cheques and, probably, never will before they die eventually.
  • Westie983
    Westie983 Posts: 5,215 Forumite
    Tenth Anniversary 1,000 Posts I've been Money Tipped! Name Dropper
    I was suggest that the questions will be asked on withdrawal of said funds, and need for proof of source of funds, not when paying in, but if its a HRMC cheque the answer of origin of funds is already answered.
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • Ballard
    Ballard Posts: 2,983 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    grumbler wrote: »
    Don't misquote me. What I actually said was, "say, 1%".
    Does it really make any essential difference or you are just nitpicking?

    The real question is "how", not "how many". Like the majority of "population" I have never deposited really big cheques and, probably, never will before they die eventually.

    Of course it makes a difference. I have no evidence but would suggest that it's nowhere near one in a hundred who get their accounts frozen. If you'd have said one in ten thousand you may have been closer. That would still be 6,000 and if it's close to realistic then that's pretty bad, I admit.

    I have absolutely no idea what you mean by the second sentence.

    This has gone on long enough now so I think that it's time to drop it. We're not going to agree.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 22 April 2016 at 10:25AM
    Your calculation is wrong on many counts.
    • 65 000 000 is the whole population that includes young people that don't have current accounts.
    • Like I said, the majority of adults with current accounts never deposit really big cheques in their life.
    • The actual time slot we are talking about is no longer than a decade when this AMP paranoia spread from USA, i.e. much shorter than an average life.
    By the second sentence I mean that, IMO, it doesn't matter how many people this happens to. What really matters is how the few unlucky people get treated. You are entitled to your opinion. Good that you admit that even 6000 is bad enough.
  • System
    System Posts: 178,349 Community Admin
    10,000 Posts Photogenic Name Dropper
    The cashier certainly typed information into the computer.
    Assuming it wasn't candy crush, then they do have the facility to makes notes.
    grumbler wrote: »
    The problem is that the cashier can check the letter, but has no means of 'attaching' a copy or even a note to the transaction. Normally a cashier will just take your word for it, no letter is needed.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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