Best way to bring money in the country

Andy90 · 19 Oct 2011 at 21:48

You could theoretically fall foul of the Proceeds of Crime Act and/or Money Laundering if the Authorities suspect that your posession of the money came about by a Criminal Act.

Currently any amount of Notes and Coins (from any Country and including Gold coins), Cheques, Bankers Drafts and Travellers cheques can be seized by the Authorities under the Proceeds of Crime Act if they suspect it was gained from a Criminal Act or intended to be used in a Criminal Act and providing the value of the Cash/Cheques/Bonds etc is believed to be over £1000.

Once seized under the suspicion that it was obtained from a Criminal Act or intended to be used in a Criminal Act, the matter is taken to a Civil Court. The onus is on the individual to prove that the currency etc was gained from a Lawful Act, such as work or payment. If you cannot do that the money is forfeited.

It really hits Criminals where it hurts and a lovely piece of legislation

TNGL · 19 Oct 2011 at 21:55

Just stick it in your back pocket.

Deleted member 77746 · 19 Oct 2011 at 21:57

franco_22 said:
Does anyone know what is the best untraceable way to bring a large amount of money to the country, as in more then 5000 pounds?

Would it be best to bring it in foreign currency or local and could customs tax that as income?

For the reason you said 'untraceable' I'm guessing this is related to a crime to which no-one should be helping you. If it's not been used in crime then use a bank. :cool:

[FnG]magnolia · 19 Oct 2011 at 21:58

Robbie G said:
This is franco_22. The money has come from the sweat of Bolshevik potato farmers.

I think it means that the money almost certainly does not exist.

VaderDSL · 19 Oct 2011 at 21:59

Pay an air stewardess to bring it in in her hand luggage

boxerboy · 19 Oct 2011 at 22:53

Untraceable ! Sounds very above board !

Tefal · 19 Oct 2011 at 22:57

*demand socialism, decry companies for tax avoidance....ask for help on tax evasion*

Ahhh socialists

Moses said:
Immigration are going to have fun with the Canadian, Daniel Franco, who's trying to bring money into the UK, in an untraceable way (lives in London, might be going to Thailand, at some point). Must be something to do with DRUGS BOMBS DRUGS TERRORISM PEOPLE TRAFFICKING DRUGS BOMBING TERRORISM DRUGS BOMBS MURDERS OBAMA CAMERON BOMB BOMB GUY FAWKES DRUGS BOMB DRUG MULE BOMB (is that enough for the super secret MI5 people to track this thread?).

lol

Dr House · 20 Oct 2011 at 05:30

mrbell1984 said:
For the reason you said 'untraceable' I'm guessing this is related to a crime to which no-one should be helping you. If it's not been used in crime then use a bank.

Some people are a little strange, my friend took 185k in cash to prague (to buy a house) by car because he did not want to pay the bank transfer charges (which are very high here)

Stupid people, what can you do

StriderX · 20 Oct 2011 at 05:32

Gold bars, cant tax that ;D

DBT85 · 20 Oct 2011 at 05:35

Dr House said:
Some people are a little strange, my friend took 185k in cash to prague (to buy a house) by car because he did not want to pay the bank transfer charges (which are very high here)

Stupid people, what can you do

When you say "very high" what are we talking about?

Dr House · 20 Oct 2011 at 05:41

Todge said:
When you say "very high" what are we talking about?

Its different from bank to bank, its not so bad now as there is competition in the market however I think at the time he would have paid around 0.5 to 0.75 percent to receive the money.

The problem is that he wanted to change the money form CZK to GBP and the exchange rate the bank would give you are at least 2% lower then the exchange shops.

I still pay 12 pounds per month to have my account and 3 pounds for online banking :eek:

DBT85 · 20 Oct 2011 at 06:30

Dr House said:
Its different from bank to bank, its not so bad now as there is competition in the market however I think at the time he would have paid around 0.5 to 0.75 percent to receive the money.

The problem is that he wanted to change the money form CZK to GBP and the exchange rate the bank would give you are at least 2% lower then the exchange shops.

I still pay 12 pounds per month to have my account and 3 pounds for online banking

Ahh i see, so a farily large sum for what is essentially them pressing a few buttons.

And it'll be interesting to see the banks start charging people in the UK for a current account. That'll go down like a fart in a spacesuit.

Vonhelmet · 20 Oct 2011 at 07:23

Todge said:
Ahh i see, so a farily large sum for what is essentially them pressing a few buttons.

And it'll be interesting to see the banks start charging people in the UK for a current account. That'll go down like a fart in a spacesuit.

People used to pay for banking in this country. It's free banking that is the anomaly.

Destination · 20 Oct 2011 at 07:33

Todge said:
Ahh i see, so a farily large sum for what is essentially them pressing a few buttons.

And it'll be interesting to see the banks start charging people in the UK for a current account. That'll go down like a fart in a spacesuit.

I do pay for my current account, but get free family worldwide travel insurance, and mobile phone insurance along with some other random things, free foreign exchange etc.
Banks will be certain to increase this aspect of their bamking when forced to separate the sections of banking, they will offer free account, but they will be basic beyond belief.

Oh yes my account entitled me to a better mortgage rate when i took it out, that made it most worthwhile at the time, shame i didnt buy a bigger house, as moving will prove most painful.

Freakbro · 20 Oct 2011 at 07:49

Hikari Kisugi said:
I do pay for my current account, but get free family worldwide travel insurance, and mobile phone insurance along with some other random things, free foreign exchange etc.

Then they aren't free are they? You may be paying a very cheap or subsidised rate for them, but since you are paying something, to me that is not free.

You have been suckered in to the modern definition of free*

It's the same when everyone goes on about their "free" minutes on their mobile contract...no, you are paying x amount a month for them

* Not Free

wez130 · 20 Oct 2011 at 08:02

Passenger's '£70,000' in foreign cash stolen from coach

A passenger has had a bag containing £70,000 worth of foreign cash stolen from a National Express coach travelling to Portsmouth.

http://www.bbc.co.uk/news/uk-england-hampshire-15369876

Hmmmm!

TNGL · 20 Oct 2011 at 08:04

wez130 said:
http://www.bbc.co.uk/news/uk-england-hampshire-15369876

Hmmmm!

I was just about to post the same link.
WHO THE HECK WOULD LEAVE THAT MUCH CASH UNATTENDED?

boxman2000 · 20 Oct 2011 at 08:07

Anything sub £10k doesn't have to be declared in UK, last time I checked.

Other than that multiple bank accounts transferring regular small amounts.

^TANK^ · 20 Oct 2011 at 08:30

franco_22 said:
Does anyone know what is the best untraceable way to bring a large amount of money to the country, as in more then 5000 pounds?

Would it be best to bring it in foreign currency or local and could customs tax that as income?

In your case I would suggest sticking it up your anus.

Destination · 20 Oct 2011 at 08:45

Freakbro said:
Then they aren't free are they? You may be paying a very cheap or subsidised rate for them, but since you are paying something, to me that is not free.

You have been suckered in to the modern definition of free*

It's the same when everyone goes on about their "free" minutes on their mobile contract...no, you are paying x amount a month for them
* Not Free

Yes suckered into paying base plus 0.39 on a full term mortgage, with the other bits being added later, totallysuckered.