Someone I started dating recently asked me to hold £5k cash for him while he travels abroad - Scam?

Yorkshire_Pud

Farrella said:

My new boyfriend asked me to hold £5k cash for him while he travels abroad, as he does not have his UK bank account set up yet (he is from EU, apparently it is harder than he expected with Brexit).  Is there any reason why I should worry that this is a trap or am I just paranoid?  Should I agree or should I suggest an alternative.  He can't carry the cash with him, I think he is already carry a fair amount.  He worked as a bartender, model, mover etc so a lot of jobs were cash in hand.

You shouldn’t agree and why on earth would YOU think you are responsible to suggest an alternative. You know how you FEEL that’s your answer. He’s new, he shouldn’t be asking you he’s no right to. Hope you don’t feel scared of his reaction? If so not a great relationship, change the locks, safeguard your safety. Identify him to third parties.

eskbanker

Farrella said:

Just to clarify, this is physical cash.  And he is from Europe so opening a new bank account is apparently more difficult compared to before Brexit. My worry is if he owes someone money (modelling agency commission fee, loan shark for example....I don't know), they might come to me?  At the same time, he trusts me enough to give me all that cash.  I could spend it all before he is back!  Obviously if there is nothing nefarious then my suspicions will hurt our relationship.

You sound like you've convinced yourself, but the tone of the replies on here should indicate that the view of the MSE hive mind is overwhelmingly negative!  It doesn't seem unreasonable to have reservations about holding a large sum of cash, which isn't a particularly conventional thing to do, but how long have you known him for?  How long has he been in the country for?  How long is he going to be away?  Do you have any reason to suspect that he might owe people money?

jimpwarsop

Friends with benefits takes on a new meaning.

Dont do it.

NorthernJoe

"New boyfriend" 

I've been married 12 years. Not sure I'd trust my wife to look after 5k 

steampowered

Section62 said:

An EU citizen with a UK address and a (legitimate) job should have no problem setting up a bank account.

That's a common myth. It might have been true 10 years ago, it is not true today.

It is surprisingly difficult for a lot of people to open a bank account. There are 1.4 million people in the UK who don't have a bank account. 

Anyone without a UK credit history can find it very difficult. This is something that expats living in the UK often complain about. I've come across it a lot. I had problems opening an account after only 3 years of living overseas, and I grew up here!

Jami74

Farrella said:

My new boyfriend asked me to hold £5k cash for him while he travels abroad, as he does not have his UK bank account set up yet (he is from EU, apparently it is harder than he expected with Brexit).  Is there any reason why I should worry that this is a trap or am I just paranoid?  Should I agree or should I suggest an alternative.  He can't carry the cash with him, I think he is already carry a fair amount.  He worked as a bartender, model, mover etc so a lot of jobs were cash in hand.

How long is he planning on travelling for? My worry would be that he'd 'get stuck' somewhere and want you to deposit it into an account for him.

I think there are places you can hire a storage space, like a locker. Maybe he could do that, pay upfront for however long he's going away and keep the key with him. That way, it is not tied to you in any way at all. 

theoretica

A look on a few bank websites all say that EU citizens can open bank accounts - some directing particularly to the basic accounts. - he would need proof of identity and address.  He is legitimately in this country with right to work?

jimjames

ivormonee said:

It could all be innocent. Then again, it might not. Difficult to see how this might be a scam (he is giving you money rather than taking from you).

Cash from someone else that's been scammed and needs to be moved elsewhere? Not everyone who is scammed is the one actually being parted with their money. It might even be transferred into the account from someone else who thinks they are paying a deposit for a flat/car etc and the OPs details are given for the transfer. You only need to see the number of payment scams to see the different reasons given.

The red flag for me is "new" boyfriend. How new is new?

General_Grant

theoretica said:

A look on a few bank websites all say that EU citizens can open bank accounts - some directing particularly to the basic accounts. - he would need proof of identity and address.  He is legitimately in this country with right to work?

And it wouldn't need to be a basic current account.  There are savings accounts which would be sensible places for £5K.

Daliah

Farrella said:

 And he is from Europe so opening a new bank account is apparently more difficult compared to before Brexit. 

As an EU citizen, if he has a legal right to reside in the UK (settled status or pre-settled status), has proof of ID and address, there is no reason why he should not be able to open a UK bank account. With banks like Starling, Chase or Monzo, it will take next to no time to apply but he would have difficulties depositing £5K in cash with them. This would be easier with a high street bank or Building Society. The rest seems to be all excuses.

It all sounds a bit fishy, tbh.


Where would you keep the money, btw? Under your mattress? What if it gets stolen? Or would you put it into a bank/BS account in your name? How would you explain how you got the cash? "My boyfriend gave it to me" will immediately set off alarm bells.