cheapest bankers draft facility

GringoGoesToVagas

QrizB said:

GringoGoesToVagas said:

QrizB said:

GringoGoesToVagas said:

Please define the term launder?

https://en.m.wikipedia.org/wiki/Money_laundering

So you are saying that the above 2 characters are accusing me of committing criminal activities by paying cash and avoiding a bank account right???

I'm not saying that, no. Although the way you're wanting to circumvent the banking system might look suspiciously like.money laundering to a bank when you turn up with wads of cash asking for a banker's draft.

As an example, Barclays will only issue them to account holders and you'll need photo ID:

https://www.barclays.co.uk/help/payments/one-off-/bankers-draft/

I dont see any reason why I should have anything to do with the banking system? Unless I am guilty until proven innocent that is?

mjm3346

GringoGoesToVagas said:

QrizB said:

GringoGoesToVagas said:

QrizB said:

GringoGoesToVagas said:

Please define the term launder?

https://en.m.wikipedia.org/wiki/Money_laundering

So you are saying that the above 2 characters are accusing me of committing criminal activities by paying cash and avoiding a bank account right???

I'm not saying that, no. Although the way you're wanting to circumvent the banking system might look suspiciously like.money laundering to a bank when you turn up with wads of cash asking for a banker's draft.

As an example, Barclays will only issue them to account holders and you'll need photo ID:

https://www.barclays.co.uk/help/payments/one-off-/bankers-draft/

I dont see any reason why I should have anything to do with the banking system? Unless I am guilty until proven innocent that is?

Basically you are guilty until proven innocent as far as money laundering goes - and it will be for you to prove the source of any funds if required.

Emmia

GringoGoesToVagas said:

QrizB said:

GringoGoesToVagas said:

QrizB said:

GringoGoesToVagas said:

Please define the term launder?

https://en.m.wikipedia.org/wiki/Money_laundering

So you are saying that the above 2 characters are accusing me of committing criminal activities by paying cash and avoiding a bank account right???

I'm not saying that, no. Although the way you're wanting to circumvent the banking system might look suspiciously like.money laundering to a bank when you turn up with wads of cash asking for a banker's draft.

As an example, Barclays will only issue them to account holders and you'll need photo ID:

https://www.barclays.co.uk/help/payments/one-off-/bankers-draft/

I dont see any reason why I should have anything to do with the banking system? Unless I am guilty until proven innocent that is?

It's a bit odd to want nothing to do with the banking system, but to want a cheque/bankers draft in order to invest in company shares and do share dealing... 

I could vaguely understand going without an account if your intention was to hide all your cash under the mattress (not that I think that's especially advisable), but share dealing still requires engagement with financial institutions.

With no bank account, what will you do if / when you need to "cash in" your investments, and that money can only be paid into a bank account in your name?

But the reality is that the world is going increasingly cashless, not having a bank account is going to make daily life harder and harder.

tetrarch

What you want is for your brokerage to issue to a bearer document. I would go to your brokerage and ask whether they can give you EXACTLY what you want.

It's only a guess but I would wager a large amount of money that your brokerage will NOT issue a bankers draft or an uncrossed check

WRT your above comment you are not being accused of anything, but you are being asked to comply with regulations designed to prevent the funding of criminal activity or terrorism.

Does your problem with the banking system not extend to your brokerage. You will likely already have given enough details to your brokerage for "The Banking System" and HMRC to track your every action

Regards

Tet

Olenna

Open a Building Society account that has branch access and they will usually let you withdraw as a Counter Cheque which is very similar to a bank draft - many bank branch issued drafts are actually Counter Cheques anyway.