Paying £5k in £50 notes into Bank - will they ask questions?

PassingOutInTheParade

I sold my car for cash to a private buyer.

Silly me asked for cash. Mmmmm, didn't think that £5k in £50 notes might be an issue, and perhaps it won't be.

I'm paying it into the bank tomorrow but was wondering if they might ask a few questions about where it came from.
I can show them the advert but that's about it.

Any advice, experiences, gratefully received.

molerat

Most likely will ask, just be honest. I do hope you checked them with a UV light / note pen !

PassingOutInTheParade

molerat wrote: »

Most likely will ask, just be honest. I do hope you checked them with a UV light / note pen !

Thanks. I'm taking a print-out of the online advert with me to show it isn't ill-gotten gains.

I did indeed check the notes with a note pen, and went through the watermarks, strips, etc as shown on the Bank of England video.

Silly risk to take, hopefully I won't be learning a very hard and expensive lesson.

DavidT67

Would be better in future to deposit the money directly at the bank with the purchaser present, then give them the car keys, sales receipt and V5 once it's all accepted by the bank. That way there is no risk to you should the money be wrong in any way. (Also avoids risk of being relieved of the payment on way to bank)

(Once had someone give me a sealed bank pack of £1000 in tenners, as part of a private car sale, which only had £900 in it when bank cashier counted it. Buyer said he received it that way from a bookie, but he still had to make up the difference before getting the keys from me)

DebB49

I’ve paid in this sort of cash in before the bank did ask and I told them I’d sold my car and they were fine, good luck but I’m sure it’ll be ok.

Shakin_Steve

It should be fine, unless you do it once a week....on Monday morning.:D

PassingOutInTheParade

Thanks for the replies.

Shakin_Steve wrote: »

It should be fine, unless you do it once a week....on Monday morning.:D

Once a week would be a fine thing, even once a year would be great LOL