Transfer £18000

Ballard

I doubt that it would be a problem but do it over a number of days if you’re not completely happy. I transferred £15,000 from my Marcus account to my BLME account via First Direct last year without issue. I also transferred BOS & Lloyd’s funds to Al Rayan via First Direct when the rates dropped.

badger09

If £18k is way out of line with your usual pattern of usage of those accounts, it might very well raise flags.

But even if it does, it is likely to cause only a very short delay, despite some of the horror stories on here;) If that concerns you, either split it into 2 or 3 and transfer over a longer period. Any loss of interest will be minimal whatever you do.

oli356

Yes no maybe..

I was maxing out my daily limits with Monzo and Natwest recently without any problems but then my new hsbc account triggered warnings when I tried to transfer out £1750. Just had a call from their fraud team, no big deal.
Just do it and see

Sad_Dad

I had the same issue with HSBC on my new account.
£1750 in and then £1750 out a few minutes later triggered a call from their fraud team.

Hopefully I will be okay next time I do it.

sal_III

If all accounts are in your name, I don't see it being a problem. I can see how it might trigger a call from someone in either bank, to verify you are aware of the transaction, but I don't image it would result in anything more than a holdup with the transaction.

As for the suggestion to do 2x£9000 or other number of smaller transaction it could be equally bad idea. Just recently someone here was complaining about fraud alert being triggered on the 2nd of 2 largesih transactions, after the first went through fine.

Helen28

Well I "upgraded" my Santander 123 to 123 lite online and trnsferred my money to my savings account via my BoS account and it all went OK and because my cashback for the next 2 months was less than the £5 fee I will actually be £5.00 better off.

colsten

Helen28 wrote: »

Well I "upgraded" my Santander 123 to 123 lite online and trnsferred my money to my savings account via my BoS account and it all went OK and because my cashback for the next 2 months was less than the £5 fee I will actually be £5.00 better off.

£4-ish better off. The Lite still costs £1/mth.

Did you end up transferring all £18,000 in just two lots, from Santander to BoS, and from BoS to Marcus? Or did you split it up into smaller amounts? Did you transfer it yourself or did you ring the banks and ask them to?

Helen28

Did you end up transferring all £18,000 in just two lots, from Santander to BoS, and from BoS to Marcus? Or did you split it up into smaller amounts? Did you transfer it yourself or did you ring the banks and ask them to?

All in one amount all online.


When I log on now account says Santander 123 Lite

A_Lert

Good to hear it went well.


"Structuring" is the term I was trying to remember earlier, for splitting up large transactions into smaller ones in an attempt to avoid scrutiny. Sometimes called smurfing. And in some countries though not Britain it's a crime in itself, even if the money was legitimately obtained.

[Deleted User]

A_Lert wrote: »

Good to hear it went well.


"Structuring" is the term I was trying to remember earlier, for splitting up large transactions into smaller ones in an attempt to avoid scrutiny. Sometimes called smurfing. And in some countries though not Britain it's a crime in itself, even if the money was legitimately obtained.

That doesn't surprise me. It will be a crime here before too long. Quite how the money laundering fanatics in charge of the financial systems would prove it is quite another matter.