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lhsecons

Consumerist said:

colsten said:

Consumerist said:

I also wonder how straightforward it might be to deposit several thousand pounds in cash when you want to get back into savings again.

Should your bank ask, before or after taking the deposit, for the source of the funds, you will provide it to them. This will not be a problem since you will have proof that the money is not proceeds of criminal or otherwise illegal activities.

You make it sound so easy. How do you prove you've had the money under your proverbial mattress?
 That’s because you have conveniently taken this reply out of context.

polymaff

Ken68 said:

I'll let you know Cons., have a lot of high value NSand I Guaranteed Grwth Bonds and other fixed rate stuff coming to maturity in Jan and Feb and March. God knows where to put the money, a nuisance, lol.

Bite the bullet and roll it over?

Consumerist

lhsecons said:

Consumerist said:

colsten said:

Consumerist said:

I also wonder how straightforward it might be to deposit several thousand pounds in cash when you want to get back into savings again.

Should your bank ask, before or after taking the deposit, for the source of the funds, you will provide it to them. This will not be a problem since you will have proof that the money is not proceeds of criminal or otherwise illegal activities.

You make it sound so easy. How do you prove you've had the money under your proverbial mattress?
 That’s because you have conveniently taken this reply out of context.

And you have, conveniently or otherwise, amended your quote of my post.

In what way have I taken colsten's reply out of context?

I-LOV-MONEY

Consumerist said:

You make it sound so easy. How do you prove you've had the money under your proverbial mattress?

Who am I proving it to?    Should I take a photo of it ?!!

I-LOV-MONEY

polymaff said:

Bite the bullet and roll it over?

Hmm they are offering 0.10% for 1 year term,  0.15% 2 years,  0.4%  3 years and a massive 0.55% for 5 years.   I can get 0.5% for instant access from Marcus at present.

Consumerist

I-LOV-MONEY said:

Consumerist said:

You make it sound so easy. How do you prove you've had the money under your proverbial mattress?

Who am I proving it to?  . . .

I suppose the bank will need to exercise due diligence in respect of Money Laundering regulations.

Although, at the moment, I'm unlikely to withdraw or deposit large sums in cash, I wouldn't want to risk a CIFAS marker on my credit file if I did decide to withdraw/deposit it in cash.

Consumerist

I-LOV-MONEY said:

Hmm they are offering 0.10% for 1 year term,  0.15% 2 years,  0.4%  3 years and a massive 0.55% for 5 years.   I can get 0.5% for instant access from Marcus at present.

I wouldn't risk more than a 2yr fix at the moment but the fixed rates you quote might look attractive by Spring.

I-LOV-MONEY

Where did I put my crystal ball ?

colsten

Consumerist said:

colsten said:

Consumerist said:

I also wonder how straightforward it might be to deposit several thousand pounds in cash when you want to get back into savings again.

Should your bank ask, before or after taking the deposit, for the source of the funds, you will provide it to them. This will not be a problem since you will have proof that the money is not proceeds of criminal or otherwise illegal activities.

You make it sound so easy. How do you prove you've had the money under your proverbial mattress?

Oh, I hadn't considered that people would seriously take money out of interest-earning accounts for the purpose of holding the cash in a shoebox etc, with the cunning plan to re-deposit the cash into some account at a later stage. But if anyone actually wanted to do that (for some unfathomable reason), they'd just have to keep the statements of their savings account so they can produce them if required.

I-LOV-MONEY

At 0.5% interest it doesn't matter if you put it in a shoebox or not !