Unexpected cash gift

exponential

Our friend is just over 60.

We are mid to late 30's....

Sea_Shell

exponential wrote: »

Our friend is just over 60.

We are mid to late 30's....

Sorry to say, but these days that would raise big red flags with banks, as you've unfortunately found.

They just see an older person potentially being coerced into transfering funds.

Can they write you a cheque??? That might work.

exponential

Sea_Shell wrote: »

Sorry to say, but these days that would raise big red flags with banks, as you've unfortunately found.

They just see an older person potentially being coerced into transfering funds.

Can they write you a cheque??? That might work.

It's ridiculous.

They didn't even ask to carry out a background check on me and my wife.
They just straight up said NO!
I have already spoken to a solicitor and I'm waiting on a call back tomorrow.

I totally understand fraud checks etc but to not actually carry out a fraud check.... Makes no sense?

Brodiebobs

The bank will have a duty of care to the customer though, you must see why it raises flags.

If the shoe was on the other foot and a relative of yours was sat in a bank with a much younger friend attempting to transfer tens of thousands to them you would want the bank to flag it, same as if some one went in saying they had received a phone call asking them to transfer money...

exponential

Brodiebobs wrote: »

The bank will have a duty of care to the customer though, you must see why it raises flags.

If the shoe was on the other foot and a relative of yours was sat in a bank with a much younger friend attempting to transfer tens of thousands to them you would want the bank to flag it, same as if some one went in saying they had received a phone call asking them to transfer money...

If course, I totally agree with you on that.

The problem is, the manager made a decision on a "hunch" and stopped the transaction taking place without carrying out any check on us at all.
I expected to be asked my name, address etc etc and to have some sort of fraud or background check to be done on both myself and my wife before any transaction could be authorised.
I didn't expect the manager to treat my wife like a criminal and play mind games with our friend.
Very very unprofessional indeed and, once this is all sorted out, I will be putting a complaint in to her bosses regarding her behaviour.

We didn't ask for the money, the money was offered to us by a kind friend and this is how we are treated?

Can't believe it.

xylophone

It seems that it would be better to go the solicitor route? (post 28).

Incidentally,does your friend realise that she will need to report the interest received to HMRC as it is potentially taxable?

exponential

xylophone wrote: »

It seems that it would be better to go the solicitor route? (post 28).

Incidentally,does your friend realise that she will need to report the interest received to HMRC as it is potentially taxable?

Yeah, solicitor route for sure.

There is no interest being charged.

The money I give at the end will be a gift.

xylophone

There is no interest being charged.

The money I give at the end will be a gift.

You are borrowing £50,000?

You intend to make payments of £600 a month for 12 months (£7200) and then £800 a month for 60 months (£48,000)?

That is £55,200?

Then you intend to make a "gift" of £800 a month for a further five months? (£4,800)?

Looks like interest to me.

exponential

xylophone wrote: »

You are borrowing £50,000?

You intend to make payments of £600 a month for 12 months (£7200) and then £800 a month for 60 months (£48,000)?

That is £55,200?

Then you intend to make a "gift" of £800 a month for a further five months? (£4,800)?

Looks like interest to me.

Replace the word "interest" with "thank you for changing our lives, here's a gift for your trouble" and you've hit the nail on the head......

exponential

OK guys.

As this situation has taken an unexpected turn and solicitors will now be involved, I have taken the decision to close this thread down.
Please do not post any further messages as they will go unanswered.


Thanks to you all for your helpful input. ��