Absolutely FUMING with Abbey

ShelfStacker_3

gatita wrote: »

I am still not satisfied as I STILL say that the question "what do you want the money for" should never have been asked. Its a perfectly STUPID question, if anyone really was guilty of wrong doing they would hardly let a cashier know what it was.

Well then you'll have to lump it. It's a standard procedure instituted for good reasons, which they're not going to waive just on your behalf.

I'm still of the opinion this is entirely overblown and that you may be taking it way too far, in case you haven't guessed.

ShelfStacker_3

Actually, thinking about it, exactly what do you want? Do you want Abbey to just chuck their (tried and tested and clearly effective) money laundering procedures because you're offended?

chongthecat

Hi there,

I work for abbey and would just like to inform you of the following information regarding your poor experience.

1) For security reasons, the majority of abbey branches do not hold vast sums of cash therefore require notice for any amounts over £500.00.

2) When withdrawing/ depositing funds of £10,000 or more, the cashier MUST ask where it came from/ what is it for. It is Abbey's policy to do this for any large sums (usually over £2000). They are also required to annotate your response- even if you refuse to answer.

3) The cashier must complete a required form that asks these questions - these are then checked by the manager/ assistant manager on a daily basis and the cashier can be repremanded if not completed with the information. This is done to ensure that all transactions are correctly completed and filed should an auditor arrive for an inspection unannounced (which they do!)

Points 2 and 3 are done for a number of reasons. Firstly as already stated in previous posts, to protect customers money. Secondly, to protect Abbey from fraud. Thirdly, to protect the cashier (as they can be fined and or go to prison as an accomplice if found to have not done their job correctly). And finally, for Anti money Laundering purposes.

If you were unhappy with the service/ manner you were questioned, you can obtain a complaints leaflet from your branch. Alternatively, you can also access the complaints procedure on the internet site.

Hope this helps and please understand that the cashier was only doing what is required of him/her - believe it or not we are human too!!

gatita

Shelfstacker, Who the hell are YOU to tell me if i have taken something too far! and where is it written that the question I objected to is LAW? also, how do you know that their "tried and tested money laundering procedures" are effective? got inside information? and another thing I do not have to "lump it" ...I have opened another an account with a bank that does NOT ask such ridiculous questions.

gatita

Chongcat,
Thanks for your reasoned comments. I of course understand that there has to be checks done, but first of all, the amount I withdrew was only £2000 which I "ordered" I have been a customer for 20 years and it is a very small town and I am known to the staff.

As I understand it there is no legislation that INSISTS that banks have to ASK customers what they want THEIR money for! That is my gripe.

chongthecat

As I stated previously, there is government legislation that requires any business (not just the banks) where deposits for £10k or more have come from and also for withdrawals. I understand your frustration at being asked for the amount of £2000 but they are just doing what is stated in the terms and conditions of all Abbey accounts. I think perhaps the main issue was the way the question was asked which is more about the cashiers attitude! Some cashiers blurt the questions out without providing an explanation hence sounding nosy!! You are well within your rights to refuse to answer - I have had this on numerous occasions. Provided the cashier annotates that down, they cannot be held responsible.

ShelfStacker_3

gatita wrote: »

Shelfstacker, Who the hell are YOU to tell me if i have taken something too far! and where is it written that the question I objected to is LAW? also, how do you know that their "tried and tested money laundering procedures" are effective? got inside information? and another thing I do not have to "lump it" ...I have opened another an account with a bank that does NOT ask such ridiculous questions.

I am someone on a forum you've posted to on this subject. And I've not written that this is law at all, simply standard policy among a number of banks; evidence that it works has been provided in this thread by a few bank workers, and if you carry out large transactions again through your new bank you might get asked again - like I say, it's standard policy.

dunstonh

I have been a customer for 20 years and it is a very small town and I am known to the staff.

I was conned by somoene who was perceived to be a regular. Also, just because some know you doesnt mean the cashier in question did and its their neck that is on the line.

As I understand it there is no legislation that INSISTS that banks have to ASK customers what they want THEIR money for! That is my gripe.

Money laundering rules.

reformedEffortMaker_2

gatita-well done for complaining. I couldnt agree more with your original post. I have walked into a bank in a Nike tracksuit and been interrogated, once by a cashier AND then by her manager, then gone into another branch a week later in a pinstripe suit and been handed £000's having only shown a credit card (from another bank and mentioned my date of birth!!)-go figure??!!.

I have re-read this thread, and am still slightly confused. Where exactly in the 'Money Laundering Rules' that everyone keeps referring to, does it state you specifically have to ask a customer "what the money is to be used for?", and does it also state that the answer given should be recorded?-or is that just banks who want to hold individuals accountable...if so, should you not be telling the customer that you are doing that?....

Also as the Cash In Transit robberies in London have been increasing at the speed of light over the last 3 years, and Barclays for one, continue to treat their staff like c$ap and pay them less than Tescos, I would say that the bank staff are the ones who need to be watched for theft and laundering, not the customers!

Toomuchdebt

I used to work for a bank and we also HAD to ask what the money was going to be used for and had to write it on the forms-the head cashier would then check it and if we hadn't asked she would make us go back and ask.It seemed really pointless to me as nobody's going to admit to anything anyway-the 3 answers we got were-new car, holiday, new kitchen.Never anything different.If I was being asked I would tell them it's personal.Can you imagine if we had to type in a reason for withdrawing money at a cashpoint?