Received cash gift

On_a_Shoestring

I have recently received a gift of £5,000 in cash from relatives abroad. I was wondering whether it would be OK for me to pay this into my bank account? I don't usually have big transactions in my account so I'm worried that it will be a problem because it's out of character.

alphabravocharli

Better to avoid, UK banks have habit of taking action and dont ask question policy.

PRAISETHESUN

I wouldn't deposit it in one big go as this will likely arise suspicion if you are unable to provide proof of the source of the funds. If possible, deposit it in smaller chunks over a longer period of time or into multiple accounts over multiple banks - this will lessen the likelihood of any one bank going into overdrive to prevent possible money laundering and restricting access to your accounts - which can be a real pain as many have described on the forums before.

On_a_Shoestring

Thanks, that's what I was worried about. I'll just use it for my daily spending where possible, then. Thank you both.

McKneff

Whats the problem.
Just pay it in, if they ask, just tell the truth.
Its a gift from a relative...

How did you ceceive this 'gift' . Cash, Wrapped in brown paper...