Nationwide Savings Account Cash Deposit

gabby71

Hi all
I have my caravan up for sale and the gentleman interested in buying it wants to pay me in cash - £6500. Would I be able to pay that much cash into my savings account? A good friend has a shop and will allow me use of a machine that can check for counterfeit notes so no worries on that front.

thanks

Gab

colsten

As a general rule, only the account holder can pay money into their own bank accounts.

Why can your buyer not pay you by bank transfer, or by cheque?

If you turn up with thousands in cash to deposit into your account, Nationwide or any other organisation will ask you for evidence about the origins of the money. You’d be best advised to ask them beforehand what proof you will need.

gabby71

Thank you, I’ll contact Nationwide to check.
The purchaser, I believe, is from the traveller community and he has told me he doesn’t have a bank account that allows transfers.

stclair

gabby71 said:

Thank you, I’ll contact Nationwide to check.
The purchaser, I believe, is from the traveller community and he has told me he doesn’t have a bank account that allows transfers.

Just be careful 👍

jonesMUFCforever

Yes I agree. If there is any delay in the cash or he turns up to take the caravan away before paying don't let him.
If you do you won't see your caravan or the money.

gabby71

stclair said:

gabby71 said:

Thank you, I’ll contact Nationwide to check.
The purchaser, I believe, is from the traveller community and he has told me he doesn’t have a bank account that allows transfers.

Just be careful 👍

Will do 😊 thank you