large cash deposit

Uxb

Slightly off topic.

Just had a letter from one of the big 4 banks in respect of an association/community type account I'm treasurer of.
As of later this year cash deposits into business accounts will only be accepted accompanied by one of their pre-printed paying in slips for the account - or a debit card if one is provided for the account.
Letter suggests if you not have a book of paying in slips for the account you should order one now.

Interestingly in parts of the EU all the above thread would be banned/removed from MSE as in many places all cash transactions above a certain value are illegal.
In France and Spain the limit is Euro 1000, Italy Euro 3000,
Greece has a Euro 500 limit I think.

aj23_2

Uxb wrote: »

Slightly off topic.

Just had a letter from one of the big 4 banks in respect of an association/community type account I'm treasurer of.
As of later this year cash deposits into business accounts will only be accepted accompanied by one of their pre-printed paying in slips for the account - or a debit card if one is provided for the account.
Letter suggests if you not have a book of paying in slips for the account you should order one now.

Interestingly in parts of the EU all the above thread would be banned/removed from MSE as in many places all cash transactions above a certain value are illegal.
In France and Spain the limit is Euro 1000, Italy Euro 3000,
Greece has a Euro 500 limit I think.

It's forcing you into electronic payments for tracking purposes.

marygoodwife

You can put cash in the machines till the cows come home, but at some point the bank will want to know where the cash has come from
For anti money laundering/fraud.

stehouk

marygoodwife wrote: »

You can put cash in the machines till the cows come home, but at some point the bank will want to know where the cash has come from
For anti money laundering/fraud.

Are you sure of that ?

In my experience that isnt true

I have regularly deposited money into relatives accounts without question.