Withdrawing £20k in cash

Shakin_Steve

You're all talking as if this is actually happening. He should change his username to Walter Mitty.

Terry_Towelling

Shakin_Steve wrote: »

You're all talking as if this is actually happening. He should change his username to Walter Mitty.

You're probably right because it was only a short while ago he was wanting to impersonate his girlfriend to get cash out on her card to pay a bill for her whilst she was on holiday (wonder if she's back yet) - and he was seemingly desperate for an amazon payment of about £3K to come in - and then got one for £4.5K.

Well, it keeps us entertained - thank you, John.

What do you think the next one will be? Got robbed of £20K in a car park - is there any way to get the £50 notes cancelled if he has a record of the serial numbers?

pramsay13

Are you sure he doesn't mean bank transfer?
Quite often people will say discount for cash meaning not a card transaction which they have to pay fees on, or as someone else has pointed out so they don't have to put it through their books and can dodge tax or vat.
I certainly wouldn't withdraw £19k in cash, but I might transfer that amount of money if I was satisfied with the credentials of the person receiving the money.

JimmyTheWig

JohnLock wrote: »

Can I just walk into my local branch and do it, or will I be arrested?

It depends on what you point at the clerk when asking for it...

Tallaght

I think banks log and record all deposits and withdrawals over a certain amount in case the police show an interest.

binaryuniverse

Tallaght wrote: »

I think banks log and record all deposits and withdrawals over a certain amount in case the police show an interest.

I think you'll find all banks log every single transaction, regardless of amount.

Tallaght

binaryuniverse wrote: »

I think you'll find all banks log every single transaction, regardless of amount.

Obviously i know they log every transaction but some put 'markers' on file on certain cash deposits and withdrawals.Mainly if the Police or HMRC ask for details.

NotRichAtAll

Pretty sure i would not be paying that much cash for a car no protection if it all goes tits up

Londonlisa12

Out of curiosity how much can you withdraw over the counter before raising suspicion or needing to give a reason?

Terry_Towelling

Londonlisa12 wrote: »

Out of curiosity how much can you withdraw over the counter before raising suspicion or needing to give a reason?

Varies from bank to bank. Some will hum and hahh if you ask for more than £1K. Most will want advance notice for anything over £5K and some will ask questions about how you intend to use it. If they aren't satisfied they may refuse. Not sure of the legalities of that but there you go.

Basically, John Lock has no chance but I'd like to know more about the car he is intending to buy - make, model, designation etc.