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  • FIRST POST
    • abibee
    • By abibee 17th Mar 17, 11:42 PM
    • 411Posts
    • 242Thanks
    abibee
    Cash deposit to bank account, question
    • #1
    • 17th Mar 17, 11:42 PM
    Cash deposit to bank account, question 17th Mar 17 at 11:42 PM
    I have a question and I hope this is the correct section.

    If I were to take a large amount of cash (1000+) to my bank, to deposit into my account, would there be any requirements to prove the money is legit and mine? Any forms or declarations I'd have to sign regarding the legality, or taxation matters, proof of source? I haven't a clue.

    I imagine there may be rules regarding large cash deposits?
Page 1
    • Sparx
    • By Sparx 17th Mar 17, 11:50 PM
    • 890 Posts
    • 492 Thanks
    Sparx
    • #2
    • 17th Mar 17, 11:50 PM
    • #2
    • 17th Mar 17, 11:50 PM
    Depends on your bank. I recently deposited just short of 1k with Nationwide. No questions asked at all by the cashier, just took the money and put it in my account, immediately available. She even said I could've put it in the automated machine and it would've been fine!

    On the other hand, say it was HSBC... Then yes they'd likely call in MI5 for a meeting with you.
    • YorkshireBoy
    • By YorkshireBoy 17th Mar 17, 11:53 PM
    • 30,152 Posts
    • 18,003 Thanks
    YorkshireBoy
    • #3
    • 17th Mar 17, 11:53 PM
    • #3
    • 17th Mar 17, 11:53 PM
    "1,000+" can be 1,100 or it can be 25,000. It might even be 50,000.

    The answers to your questions will depend on what "+" denotes.

    If the "+" was an accidental key press(!) then I regularly pay in 1,000 cash to several of my accounts and haven't been questioned.
    • abibee
    • By abibee 18th Mar 17, 12:11 AM
    • 411 Posts
    • 242 Thanks
    abibee
    • #4
    • 18th Mar 17, 12:11 AM
    • #4
    • 18th Mar 17, 12:11 AM
    Right, so there's no questions or any problem then, thanks for that. It's my money, been keeping it under the mattress (so to speak, not literally) but glad there should be no issues.

    The '+' was intentional, but the upper limit being mid one thousands, sorry for lack of clarity, I see how it could have meant anything.
    • bigadaj
    • By bigadaj 18th Mar 17, 8:12 AM
    • 10,816 Posts
    • 7,138 Thanks
    bigadaj
    • #5
    • 18th Mar 17, 8:12 AM
    • #5
    • 18th Mar 17, 8:12 AM
    Depends on your bank. I recently deposited just short of 1k with Nationwide. No questions asked at all by the cashier, just took the money and put it in my account, immediately available. She even said I could've put it in the automated machine and it would've been fine!

    On the other hand, say it was HSBC... Then yes they'd likely call in MI5 for a meeting with you.
    Originally posted by Sparx
    It would probably be the FBI.
    • firefox1956
    • By firefox1956 18th Mar 17, 8:32 AM
    • 1,520 Posts
    • 904 Thanks
    firefox1956
    • #6
    • 18th Mar 17, 8:32 AM
    • #6
    • 18th Mar 17, 8:32 AM
    I always thought 5000 was a 'trigger' figure.............
    HTH
    • Mr.Generous
    • By Mr.Generous 18th Mar 17, 8:36 AM
    • 1,764 Posts
    • 2,655 Thanks
    Mr.Generous
    • #7
    • 18th Mar 17, 8:36 AM
    • #7
    • 18th Mar 17, 8:36 AM
    I've been paid cash by customers who assume all tradesmen want cash and just paid it into business account, they didn't take any notice. Paying a check in to HSBC did however result in a phone call later asking what it was for.
    • Flobberchops
    • By Flobberchops 18th Mar 17, 12:17 PM
    • 725 Posts
    • 524 Thanks
    Flobberchops
    • #8
    • 18th Mar 17, 12:17 PM
    • #8
    • 18th Mar 17, 12:17 PM
    Anything up to a few thousand ought to be fine, as the cashier pointed out deposit machines are becoming normal and you could use those to pay in thousands with no questions asked so it makes little sense for the counter staff to operate at a higher level of scrutiny.
    • jimjames
    • By jimjames 18th Mar 17, 5:31 PM
    • 12,588 Posts
    • 11,238 Thanks
    jimjames
    • #9
    • 18th Mar 17, 5:31 PM
    • #9
    • 18th Mar 17, 5:31 PM
    I always thought 5000 was a 'trigger' figure.............
    HTH
    Originally posted by firefox1956
    Nope. I've paid in 10,000 cash before without issue
    Remember the saying: if it looks too good to be true it almost certainly is.
    • abibee
    • By abibee 19th Mar 17, 1:35 AM
    • 411 Posts
    • 242 Thanks
    abibee
    It seems to vary according to the bank maybe, before they call the secret service in.
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