Putting cash in bank.

COIAHLGW

Zinger549 said:

If you use the cashier and not the machine it should be ok.  You can explain to the person serving you where the money has come from.

I think I will now pay in my money laundered cash, and tell the cashier it was kept under the mattress for safekeeping! 

The bottom line is that nobody knows exactly what the threshold for an account to be frozen will be.  Maybe it is the value of the cash, maybe it could be behaviour based if people look shifty when paying it in, maybe it could also be linked to the number of cash transactions, or a combination of factors.  Different banks are going to have different rules.  Just be sure you have a backup account just in case the account you decide to pay in to is frozen.  Always a good idea to have a backup account ready to go as we have seen with countless forum posts.

TheElectricCow

This will likely depend on exactly how much the large amount is, the particular bank, and whether or not the source of the money is easily explained.

Ideally the deposit should be made in one go at the counter, as a one off lump sum probably wouldn’t be too much cause for concern (while several smaller but still large cash deposits may look somewhat suspicious if it’s an abnormal amount).

Obviously there’s no clearly defined rules as that would make it very easy for ill-intentioned people to avoid detection by only depositing just under the allowed amount.

If we’re talking, say, £5000 that could probably be put in no questions asked - if the amount in question is much higher e.g. in the tens of thousands that might need a little more discussion with the bank for them to accept that it has come from a legitimate source.

flaneurs_lobster

TheElectricCow said:

This will likely depend on exactly how much the large amount is, the particular bank, and whether or not the source of the money is easily explained.

OP explained in another thread that the amount is ~£15K.

https://forums.moneysavingexpert.com/discussion/6432440/giving-esa-pip-money-away/p1

molerat

grumbler said:

OK, when asking the 'rhetoric' question did you really expect to get an honest answer if the origin of money is, say, questionable? The intention was to deposit a big(gish) amount of cash. Many elderly people have a habit of saving big amounts at home over a long time. It was a norm several decades ago.

Mid Covid someone I know was clearing out their aunt's house after she died and found around £20K stashed away in various cupboards and drawers - none under the mattress though.

[Deleted User]

grumbler said:

[Deleted User] said:

The most I have put in was £6000 at RBS/Natwest and that was in a cash machine at the branch inside. There was no counter. it required multiple deposits. All cleared no questions asked.

And there was a post recently about an account frozen exactly after making multiple ATM deposits. IIRC, the OP sold some dog.

Which bank? did the account holder make any other transactions? how much money did they put in. I don't think the account was frozen just for the deposits alone.....

I can see from above the OP is talking about £15,000, in which case yes I suspect if you tried this at a machine it is a lot to put in via a machine, it took me three or four goes to get the 6k all in. 10 deposits at once perhaps triggers some kind of system.... to add I often see people with large whads of cash paying it in, big bunches of notes again and again so perhaps as I said before there are other factors. Your income for example. If you earn 15k per year and suddenly put 15k into your account that may trigger it rather than the actual deposits amount.

OP, MSE doesn't like anyone who has cash, they will look at you with suspicion. I once had a post where I asked about taking some money from a family member to keep. At once I was accused of tax avoidance. The reality was that the said family member was an alcoholic and would have spent the money on drink had they not given it to me to look after. Don't let them grind you down! 

grumbler

[Deleted User] said:

grumbler said:

[Deleted User] said:

The most I have put in was £6000 at RBS/Natwest and that was in a cash machine at the branch inside. There was no counter. it required multiple deposits. All cleared no questions asked.

And there was a post recently about an account frozen exactly after making multiple ATM deposits. IIRC, the OP sold some dog.

Which bank? did the account holder make any other transactions? how much money did they put in. I don't think the account was frozen just for the deposits alone.....

Santander - https://forums.moneysavingexpert.com/discussion/6389943/santander-blocked/p1

Some other thred that I found while searching:
https://forums.moneysavingexpert.com/discussion/6394876/sons-bank-account-frozen-for-12-days-now-back-to-normal-is-there-any-after-effects/p1

W_T_F

Grateful for the helpful replies.