How much do you think of as money laundering?
Comments
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My ex husband has just tried to put £100 into my Santander bank account so I can send it along with my money to our son in America for his birthday.
At the risk of stating the obvious, if the sole purpose of your ex paying money into your account was so that you could in turn send it to your son, then presumably there's nothing to stop him sending money to his son himself rather than you being in the middle?Ex-husband so no to a joint account.
He's the old fashioned type who draws out a weekly some to pay everything and extra when needed for things like this. I have just managed to talk him into doing a balance transfer in future, but he wasn't happy. As he's well into retirement and lives on his own this was his way of going out and about and talking to people.
He could no doubt do so directly from his own bank if he doesn't wish to use any of the more cost-effective ways of sending money abroad....0 -
I saw he's your ex - assuming you're happy to be financially connected, it doesn't stop you from having a joint ac so he can pay cash into it, even if that's all you use it for...
You can then transfer it anywhere you like.
That's a terrible idea. Sorry to be blunt but I wouldn't touch this with a bargepole.urs sinserly,
~~joosy jeezus~~0 -
Are you losing a significant amount of your son's birthday money in bank fees and exchange rate when you send it?
If you would like to avoid that, open a Revolut or a TransferWise Borderless account, to which your ex husband can send his contribution, then send to your son in the most cost effective way.Evolution, not revolution0 -
It makes sense to me. It means the account holder can be asked to account for all the money paid in.0
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My ex husband has just tried to put £100 into my Santander bank account so I can send it along with my money to our son in America for his birthday. Only to be told that they can't accept the cash from him (he's old school and prefers to pay things in cash) unless he has an account with them. They said this is to stop money laundering. Really £100?
This is going to cause problems as we occasionally lend to a relative who isn't good with money, so we draw out, give them cash and tell to put it back in our bank rather than us having to make the journey seeing as the nearest bank closed.
One of the techniques used in money laundering is to break the laundered money up into lots of little bits and spread it around.
Womeone walking into a bank with a £50,000 in used notes looks a lot more suspicious than a bunch of different people (or the same person over several days) walking in with £100.0 -
I saw he's your ex - assuming you're happy to be financially connected, it doesn't stop you from having a joint ac so he can pay cash into it, even if that's all you use it for...
You can then transfer it anywhere you like.
I guess not. He been my ex for 33 years and the children are all grown up with families of their own, it would feel a little strange having a joint account with him now. We aren't really financially connected only when it comes to my son and his family who lives in America. Ex gives me the money to send over with mine for birthdays and Christmas as he doesn't like doing money transfers.£2021 in 2021 no.17 £1,093.20/£20210 -
At the risk of stating the obvious, if the sole purpose of your ex paying money into your account was so that you could in turn send it to your son, then presumably there's nothing to stop him sending money to his son himself rather than you being in the middle?
He could no doubt do so directly from his own bank if he doesn't wish to use any of the more cost-effective ways of sending money abroad....
Tried to tell him that for years. :rotfl:£2021 in 2021 no.17 £1,093.20/£20210 -
Are you losing a significant amount of your son's birthday money in bank fees and exchange rate when you send it?
If you would like to avoid that, open a Revolut or a TransferWise Borderless account, to which your ex husband can send his contribution, then send to your son in the most cost effective way.
Thanks, I use transferwise after a MSE recommendation a couple of years ago. Ex is old fashioned and doesn't like technology/ trust online banking.£2021 in 2021 no.17 £1,093.20/£20210 -
One of the techniques used in money laundering is to break the laundered money up into lots of little bits and spread it around.
Womeone walking into a bank with a £50,000 in used notes looks a lot more suspicious than a bunch of different people (or the same person over several days) walking in with £100.
Never thought about it that way. Just makes it harder for genuine people I guess as is the way of the world nowadays.£2021 in 2021 no.17 £1,093.20/£20210 -
Yet again the law-abiding majority suffers because of some scumbag criminal minority. A bit akin of millions of peaceful people having to live with restrictions (e.g. airport security checks, road barriers, metal detectors in public buildings etc) so we can protect ourselves from raving lunatic terrorists and other madmen.Never thought about it that way. Just makes it harder for genuine people I guess as is the way of the world nowadays.0
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