Large cash withdrawals from Nationwide...

colsten

castle96 said:

Easy to get hold of, easy to spend in his occupation (builder). No divorce/evasion/benefits. Why delay, the other two sons had theirs. There really is no problem/mystery here....

Absolutely nothing of what you posted here is a convincing argument for why you could not use a bank transfer if you / your son have nothing to hide.

castle96

Do I have to convince you/anyone?

bigadaj

castle96 said:

Are u self-emplyed, ever have been? Then u wouldn't understand

Yes I have been (not now), and my father was all his life. You must be on about fiddling tax as the only other reason is cash flow, and a bank transfer would be no different. If someone is just asking for cash then they are fiddling tax, which your son is facilitating, it;s not 1975 any more. Then my father would have paid suppliers early because of a discount, but would have paid by cheque then.

eskbanker

castle96 said:

Do I have to convince you/anyone?

Depends what you mean by 'have to'.

If you mean 'does anyone here remain to be convinced' then yes, I'd hazard a guess that the majority remain unconvinced that there's a genuine justification for handing over massive wads of banknotes in preference to more conventional and less suspicious means.

On the other hand, if you mean 'is there any actual obligation to convince anyone' then obviously no, but returning to the main point of the thread, it's important for anyone choosing to use huge amounts of cash to understand just how that's likely to be perceived in this day and age, where legitimate businesses tend to have better ways of transacting and banks are under correspondingly more stringent regulation....

EarthBoy

castle96 said:

Easy to get hold of, easy to spend in his occupation (builder). No divorce/evasion/benefits. Why delay, the other two sons had theirs. There really is no problem/mystery here....

Just transfer the money to his bank account.  If there really is nothing dodgy going on then he can simply withdraw it in cash himself if it's easier for him to spend it that way. 

Chino

eskbanker said:

where legitimate businesses tend to have better ways of transacting and banks are under correspondingly more stringent regulation....

If there's one thing that the many posts on this board demonstrate, it's that the UK has some extremely incompetent banks. Consequently, people should be able to avoid using them for making payments. Whilst using cash does not remove the need for banks completely - the cash has to come from somewhere - once people have the cash they can transact with that cash without having to involve banks.

Grumpy_chap

To actually spend large amounts of cash ( legally) is quite difficult.  

Grumpy_chap

To actually spend large amounts of cash ( legally) is quite difficult.  

eskbanker

Chino said:

eskbanker said:

where legitimate businesses tend to have better ways of transacting and banks are under correspondingly more stringent regulation....

If there's one thing that the many posts on this board demonstrate, it's that the UK has some extremely incompetent banks. Consequently, people should be able to avoid using them for making payments. Whilst using cash does not remove the need for banks completely - the cash has to come from somewhere - once people have the cash they can transact with that cash without having to involve banks.

Some banks do undoubtedly appear overzealous when it comes to their interpretations of AML legislation, but of course it's only ever one side of each story that's told on here and I'm sure many can make their own minds up about the attitude of posters indignantly asserting "none of their business", playing the "it's MY money" card and making the obligatory threats to take their custom elsewhere.

I'm sure that there are plenty of examples of bank staff making mistakes, or banks having policies that some customers disagree with, but just as with any other business, especially heavily-regulated ones, customers don't get to cherry-pick the terms on which they engage, so anyone wanting to process substantial quantities of cash needs to accept that such activity is scrutinised increasingly carefully by financial institutions, and that's only going to become more so as cash use continues to decline.  So, it's a binary choice: use banks while accepting their terms, or go off-grid and live autonomously on cash....

castle96

I had no problems withdrawing the cash. He will have no problems (or reasons), spending it. End of, really