Large amount of money need to deposit in savings

Shazza3383 · 31 October 2016 at 3:47PM

Well I went to my bank today not with the cash haven't got it at present but wanted to know what I need to bring when I do. My bank said no they wouldn't take it with out his bank statements dating back many years to explain the large amount of money saved even though it was done over 4-5 year period. Even with the mother saying she gave the money to me, his death certificate, married certicate and fact I also have his child that I currently receive widow parent payment for. It's so annoying because once it's deposited I loose the help from housing benefit anyways im not trying to commit fraud and trying to do everythin above board. My bank did say how ever I could deposit my own money that I have at home and that's fine cos they can see from my account the money I get leaving a paper trail think he's way of saying how I can get around it without being too obvious telling me to lie. Another bank said his mother could try her own bank to transfer over but then she could face same problem hence y she wanted to give to me

god the man was a pain during marriage and even after death y he couldn't jus leave it in the bank grrrr

Shazza3383 · 31 October 2016 at 3:50PM

There was no will he died at 29 suppose u don't really think much about it at the time but he didn't have much assets. He had a car which the parents gave to his friend and they kept his stuff like jewellery necklace, ring etc said they give the necklace to his daughter when she grows up. Think they forgot the money during their grief and didn't know wot to do wiv it

xylophone · 31 October 2016 at 5:32PM

The OP refers to the deceased as her "ex" - was he divorced from her?

She also refers to a child of the marriage.

The parents are prepared to make a statement that their late son asked them to hold his cash in their safe and that the sum held amounts to £24,000.

The son died intestate.

If the OP was divorced and as the ex husband died intestate, the money should properly go to his surviving offspring?

https://www.gov.uk/inherits-someone-dies-without-will/y/england-and-wales

badger09 · 31 October 2016 at 5:37PM

In post 6 she said

'I have a child by him and we weren't divorced' though she refers to him as her ex.

Shazza3383 · 31 October 2016 at 6:37PM

I refer to him as an ex we were married but he never signed divorce papers so I was still married to him on paper. I wouldn't mind my daughter havin the money into her account this would not bother me but she is severely disabled and the parents prefer me to put towards a mortgage so I can get us a home that will be ours and can convert a room into a sensory room and make adjustments to property should be needed at a later stage somethin we can't do in rented. Even if I was to try put the money into an account for my daughter I still have the same problem no will, no proof where the money came from even with statement from his parents my own bank will not accept this.

richyg · 31 October 2016 at 7:20PM

If you have a severely disabled child that needs room conversion to a sensory environment - would you not be better approaching the council / a housing association for housing assuming you get benefits / part benefit and are entitled to such housing. As its needs based I would have though with one or more disabled children you would be quite high on the list based on needs.

I know nothing of your circumstances and whether you work or not or are independently wealthy or otherwise but striking out for a mortgage based on getting 24K from a dead ex would be very low on my list of things to do.

What about smaller gifts back from his parents that don't affect your benefits but improve/your childrens life - and make your a bit easier - respite care, some holidays/weekends away , toys / redecoration of rooms etc.

It may be that you cant redecorate in private sector renting but public sector would allow this and also give better security of tenure (ie longer rental agreement) which I would have thought would benefit your circumstances.

Best of luck in whatever you do.

grey_gym_sock · 31 October 2016 at 7:57PM

i'm surprised that the bank would actually reject the cash deposit, instead of asking questions about its source, and perhaps reporting it as possibly suspicious. it should only be a slight nuisance if they wanted to report the deposit, since you have a reasonable explanation of where the money came from, which your ex's parents could confirm.

it is always possible that what one bank employee says is mistaken, and they would actually accept it if you turned up with cash and a letter from the parents. or you could try splitting it into a number of smaller deposits (i don't know what level of deposit triggers extra scrutiny - this may be deliberately not disclosed). or try other banks / building societies. or get his parents to deposit part of the cash, and then transfer it to your account. i'm not sure which of these is the best approach.

re the suggestion to look into council / HA options instead of buying: i have no idea how affordable a mortgage would be in your situation. however, on the council / HA side, councils' budgets are under huge pressure, there is no new government money to build housing at social rents, security of tenure is being reduced, and many of the welfare cuts are in effect cuts in housing benefit - so if it is practical to own your own home, so that you don't have to rely on housing benefit / availability of social housing, there a lot to be said for it.

xylophone · 31 October 2016 at 11:32PM

Then as his spouse, albeit estranged, under the rules of intestacy, the money is properly the OP's.

Perhaps the in-laws should approach their own bank?

Malthusian · 1 November 2016 at 10:37AM

What Xylophone said. It's the OPs money. I muddied the waters by talking about a gift to his parents; the money is clearly his savings and after his death the OP inherited it.

The bank has probably rejected it because you haven't explained where it came from very well. If you explained its origin to the bank staff in the same way you explained it to us, I would be a bit suspicious as well. You keep muddying the waters and talking about tax and police. The fact is that the "source of funds", the story of where it came from, is extremely simple and not remotely suspicious. It was his savings out of his disposable, after-tax income. He was saving for a car or rainy day. He died and you as his wife inherited it. End of story. It was all in cash because he was a pothead and not financially savvy, and therefore the kind of guy that would put surplus cash in a safe instead of depositing it in a bank.

I'd ask to speak to a manager at the bank and have another go at explaining why you want to deposit so much in cash and where it came from. Failing that I'd try another bank. Maybe Standard Chartered or HSBC. (Joke.)

Shazza3383 · 1 November 2016 at 11:03AM

I've explained it as simple as I could without too much going into it. Simply said he put money aside over 4-5 year period at his mother's as he didn't want to be tempted to spend and was saving up for car etc he died with no will and parents want to give the money to me being mother of his child. The bloke I spoke to spoke with a manger first who then explained without a paper trail it's hard to say where the money came from and if I could get bank statements then I can provide proof of money going in from wages etc. Told me to ask banks although visited many who will not tell me if he banked with them even thou he passed and I was his wife. They also said due to not having an account with them I also couldn't deposit money even if I was to open up an account now as it's a new account and large amount but did say my bank was being unfair and they would have been happy with a written statement from his parents as well as the death certificate and said mayb the parents can try their own bank and see if their b more willing to accept the situation. My bank happens to b hsbc they pretty strict.

Large amount of money need to deposit in savings

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