large cash deposit

Tallaght

I am with natwest yet they told me to get a card reader when i wanted transfer to another natwest and barclays.
Banks have to inform the police who log it when a deposit amount is more than several thousand in cash.

deadendwaterfall

What happens if you deposit very large amounts of cash using self service deposit machines? Will the machine stop letting you after so much has been deposited and tell you to seek staff assistance or would you get a member of staff approach and stop you?

ValiantSon

Anthorn wrote: »

It's amazing that responders don't know your boyfriend and yet accuse him of lies and deceit!

Probably more evidence of me, in your words, either, "being a foreigner," or "behaving like a foreigner".

Oh, and it is her ex-boyfriend. It's amazing how much you can learn if you read things properly!

Anthorn wrote: »

The destination financial institution doesn't really matter because all of them are bound by money laundering rules and are likely to react to a large cash deposit in the same way. In general the money must come from a recognised source. If it doesn't then it flags possible fraud and an investigation ensues no doubt accompanied by a locked account. The best way to avoid this is for the money to be transferred from a different bank account and the destination bank is likely to assume that the source of the cash has already been verified.

Thanks for reiterating what others have already said! What would we do without you?

Ben8282

ValiantSon wrote: »

Really? Increasingly, banks are refusing to take deposits over the counter from anyone other than the account holder. HSBC and NatWest may not have gone this way yet.

Have never heard this one before

eDicky

deadendwaterfall wrote: »

What happens if you deposit very large amounts of cash using self service deposit machines? Will the machine stop letting you after so much has been deposited and tell you to seek staff assistance or would you get a member of staff approach and stop you?

No, if the deposit raises a flag you are likely to find your account frozen, until you can document the source of funds and that is attended to by the bank.

[Deleted User]

Tallaght wrote: »

Banks have to inform the police who log it when a deposit amount is more than several thousand in cash.

No they don't.

agrinnall

Anthorn wrote: »

It's amazing that responders don't know your boyfriend and yet accuse him of lies and deceit!

Well the OP in post #6 seems to agree with our view of her ex-boyfriend.

alanq

ValiantSon wrote: »

Really? Increasingly, banks are refusing to take deposits over the counter from anyone other than the account holder. HSBC and NatWest may not have gone this way yet.

Ben8282 wrote: »

Have never heard this one before

SOME banks are refusing/restricting third-party CASH deposits.

https://www.which.co.uk/news/2018/05/has-your-bank-banned-other-people-from-paying-cash-into-your-account/

aj23_2

Ben8282 wrote: »

Have never heard this one before

Santander and NatWest have notices at their counters about third parties depositing to current accounts and savings accounts not being allowed.

However, third parties are allowed to pay credit cards and mortgages at the counter.

aj23_2

Alter_ego wrote: »

Hsbc and Natwest allow me to do this regularly. Whats your experience?

NatWest do have notices up about third party deposits not being allowed. However, they haven't stopped me from doing so yet.