Drawing money from bank account

MountainSprings

Hi All,


I want to draw 12000 pounds from my Halifax account. My question is when drawing that kind of money do I need to notify the bank in advance ?. I am currently abroad and tried calling them but they said I have to come into the branch to speak to a member of staff. Since I am only in the UK for a couple of days before I head abroad again for work. It might be the case I may not beable to give enough notice.


Many thanks


Kevin

colsten

Unless it is a very large Branch, no bank is likely to have £12k cash ready in case a customer pops in for it. It's rather strange though that they wouldn't take your order over the phone or by internal message.

Your alternative could be to visit a number of Branches and get smaller amounts at each. Anything more than ~£2k they'd want to be pre-advised about, and they'll also ask you why you need so much cash, especially if it's just during a fleeting visit to the UK.

Willing2Learn

Have you tried sending a secure message via internet banking? Maybe that way you could officially request a withdrawal from branch xxxxx on date xx/xx/xxxx for the amount of £12,000...

Chino

colsten wrote: »

and they'll also ask you why you need so much cash

On what evidence do you claim this? Is this your personal experience? If so, from which bank?

MountainSprings

Thanks again everyone for your reply. I personally feel that I do not have to give a reason as to why I am drawing so much.

mgdavid

I

MountainSprings wrote: »

Thanks again everyone for your reply. I personally feel that I do not have to give a reason as to why I am drawing so much.

and I feel I do not need to give a reason why I'm not offering any advice...

eskbanker

MountainSprings wrote: »

I personally feel that I do not have to give a reason as to why I am drawing so much.

Unfortunately, what you feel is entirely irrelevant here - like it or not the money is currently in their possession and they will have their own processes and procedures regarding substantial withdrawals, so if you don't feel able or willing to comply with these then the money won't be going anywhere!

Assuming you're talking about £12K in cash, is that the most sensible way to make whatever payment you have in mind, as opposed to a direct transfer or card payment (that provides an audit trail), because it's not surprising that this may raise suspicions, however indignant you may be about it?

colsten

Chino wrote: »

On what evidence do you claim this? Is this your personal experience? If so, from which bank?

As you have asked so nicely, I'll leave it to you to do the googling yourself. You are welcome.

J_B

MountainSprings wrote: »

Thanks again everyone for your reply. I personally feel that I do not have to give a reason as to why I am drawing so much.

eskbanker wrote: »

Unfortunately, what you feel is entirely irrelevant here - like it or not the money is currently in their possession and they will have their own processes and procedures regarding substantial withdrawals, so if you don't feel able or willing to comply with these then the money won't be going anywhere!

I needed 5K in cash to pay my drug dealer (*) last year and arranged with local Nat West to collect.
It took me about half an hour in the bank answering questions about why I wanted the cash.
I told them that I was going on holiday to Paphos Cyprus and that the 'tacky tourist' shops gave a better exchange rate than their bank!
They believed me.


(*) PS - the starred item above may not be true!!!

lyle1993

MountainSprings wrote: »

Thanks again everyone for your reply. I personally feel that I do not have to give a reason as to why I am drawing so much.

As bank staff myself, this attitude frustrates me. They aren't asking just to hinder your visit to the bank; they are asking for anti money laundering reasons, anti scam reasons, anti terrorist financing reasons. You do not know what people are up to nowadays. Imagine the comeback on the staff if that amount of cash was used for one of the above and they had facilitated it by not asking any questions? This is the world we live in now, respect those people duties to their job.

eskbanker

Just wait for OP to come back and play the "it's MY money" card!