"proof of cash" in internet account

grumpycrab

Hi - has anybody had to provide "proof of cash" to a solicitor before for an internet account? I assume they won't take screen printouts (will ask on Monday) or if I just give them my account details will that be enough?

Cheers.

Zammo

Yeah, I had to do this. Just gave them copies of bank statements that I'd printed from teh internet.

merlinthehappypig

Our solicitor asked where the cash was coming from as they have to because of money laundering. We simply told him the names of the building societies where the money was and he said that was enough.

I'm not sure why you should have to do any more than that. I'd certainly be wary of providing any further details without good reason.

chickmug

grumpycrab wrote: »

Hi - has anybody had to provide "proof of cash" to a solicitor before for an internet account? I assume they won't take screen printouts (will ask on Monday) or if I just give them my account details will that be enough?

Cheers.

In a similar case I know the person was asked to take a screen shot which he saved as jpg and printed. Not a print out and not copied and saved into Word or other as that way you can type in your own figures.

grumpycrab

merlinthehappypig wrote: »

Our solicitor asked where the cash was coming from as they have to because of money laundering. We simply told him the names of the building societies where the money was and he said that was enough.

I'm not sure why you should have to do any more than that. I'd certainly be wary of providing any further details without good reason.

If I gave the solicitor my bank name and account number can he then ask the bank for details of the account, e.g. balance? Of-course this is exactly what they do when executing a will so I guess they can do it to determine "proof of cash"

chickmug

grumpycrab wrote: »

If I gave the solicitor my bank name and account number can he then ask the bank for details of the account, e.g. balance?

I very very much doubt it as he would not get past the security questions and checks.

ginandtonic1988

I work for conveyancers and we are very strict and follow goverment guidelines to the T. Here is what I would accept:-

Bank statement showing the money sat in an account for the last 3 months, I accept copies by fax or email. Statements must show your name or address or match up with a previous bank letter so that I can see your bank account is yours.

Hope this is of help to you.

grumpycrab

ginandtonic1988 wrote: »

...Bank statement showing the money sat in an account for the last 3 months, I accept copies by fax or email. Statements must show your name or address or match up with a previous bank letter so that I can see your bank account is yours.

Thanks ginandtonic. That's a bit more difficult with internet accounts. For example my Halifax account doesn't even show my address. Perhaps I should transfer the cash to a current account first?

Also, do you know if the governments guidelines for this are on the Net somewhere? Cheers.

LillyJ

How does this work if the money is being gifted from a relative? I assume that the buyer would just have to provide bank statements from the person giving the money?
If the person giving the money transferred the money to the buyer, say a few days before hand, would this count? Just wondering.

grumpycrab

LillyJ wrote: »

How does this work if the money is being gifted from a relative? I assume that the buyer would just have to provide bank statements from the person giving the money?
If the person giving the money transferred the money to the buyer, say a few days before hand, would this count? Just wondering.

This is what I'm doing. I'm loaning my Mother some cash so she can buy a flat. I'll give the money directly to the solicitor so they need to prove I have the money.

LillyJ

So you just provided the bank statements of the other person? And then the other person is going to transfer the money to you?