Cap for putting cash into account

caldi9

Merry Xmas everyone,

We sold our motorbike and want to put the money into the bank account. Is there a maximum one can deposit at once (it is 11k)? Do we need to have the proof of the sale or anything else?
Thanks

Kim_13

There's no deposit limit on a standard bank account. Almost all won't pay interest on that amount, but you'll still get interest up to the maximum amount that they pay interest on, if any.

I would take the proof of sale along. They may ask, they may not but at least you'll have it there to avoid issues. I read an article a while ago and from memory it said questions are more likely to be asked if over 4 or 5k.

eDicky

Kim_13 wrote: »

I would take the proof of sale along.

A copy of the bike's registration paper (V5?) featuring your name would also be something concrete, along with the bill of sale, that the bank could copy/file and feel satisfied that they've done their duty.

System

Should be fine with any organisation other than HSBC and it's siblings such as M&S Bank.