large cash withdrawal from bank

Ergates

johnsmith1890 wrote: »

For a withdrawal of this size - £10K or £100K - the bank will assume you're a money launderer. Therefore they will make life difficult for you. These days you can't just go and get your own money out of the bank.

Money laundering would involve money coming *in* to an account, not out. It's a process to get profits from crime into the banking system. A large cash withdrawal would do the opposite.

mjm3346

This was from Santander last year

The daily ATM withdrawal limit is £300. You can withdraw up to £5000 over the branch counter and if you need more you will need to contact the branch about this 48 hours in advance

BrownTrout

Santander being from the old building society stable would keep less money on site then say a traditional bank like lloyds or natwest

Flobberchops

johnsmith1890 wrote: »

Just out of interest - you guys that work in a bank: I was told on a course once that your typical high street branch usually keeps about £250k on hand. Is that right?

Depending on the size of the bank and the area (high/low income? Proportion of personal/business customers?) the figure will vary but £250k sounds like a reasonable average. One large, cash heavy, London branch I worked at once had close to a million in the safe at the end of a busy day with an unusually high volume of deposits - suffice it to say we arranged to have most of that remitted out ASAP. Bank managers get understandably antsy being responsible for that volume of cash sitting around.

LobsterMemory

etienneg wrote: »

Anyone else - can you suggest (legitimate) reasons why?

Going to Crayford and the 6 dog is nailed on?

Maybe the bookies at the big meetings could handle that size of transaction

castle96

me - Santander - £30k - 24hrs notice

System

BrownTrout wrote: »

Santander being from the old building society stable would keep less money on site then say a traditional bank like Lloyds or Natwest

It depends more on branch size - a large branch of Santander or Nationwide will likely have 10k available.

Another factor is if they have a dedicated business banking facility - these tend to have more cash in stock and have £50s / £100s available.

Chino

etienneg wrote: »

Why such a large sum in cash?

Why do you care what the OP wants the cash for? Or are you one of life's curtain twitchers?