best place for £3,000???

chrisd · 24 Sep 2009 at 00:19

jp_bl_68 said:
A bank might ask you to prove where the money came from. I think it's standard procedure when dealing with large amounts of cash.

£3000 is hardly a 'large amount of cash'.

jp_bl_68 · 24 Sep 2009 at 00:28

Really? It's a small amount of money but it is definitely a large amount of cash. How often do you walk around with 3k in your back pocket?

meghatronic · 24 Sep 2009 at 00:59

jp_bl_68 said:
Really? It's a small amount of money but it is definitely a large amount of cash. How often do you walk around with 3k in your back pocket?

How often do you walk around with £3000 in cash that you're about to deposit in a bank? Frequently. That or to buy something.

jp_bl_68 · 24 Sep 2009 at 01:06

meghatronic said:
How often do you walk around with £3000 in cash that you're about to deposit in a bank?

Presumably that's income from a cash business. If asked you could account for every note and coin.

meghatronic · 24 Sep 2009 at 01:09

jp_bl_68 said:
Presumably that's income from a cash business. If asked you could account for every note and coin.

If asked I'd tell them to close my account and walk down the street to another bank.

£3k is pocket change to a bank.

jp_bl_68 · 24 Sep 2009 at 01:12

I'm sure there's a law that requires any business or bank to enquire as to the source of large cash payments. I can't remember the exact figure but it could be £5,000.

meghatronic · 24 Sep 2009 at 01:18

jp_bl_68 said:
I'm sure there's a law that requires any business or bank to enquire as to the source of large cash payments. I can't remember the exact figure but it could be £5,000.

You could be right. But I withdrew £12,000 from Barclays today (granted they knew the source of the income), walked across the street and paid it into a Natwest account of someone else. No questions asked at either bank.

jp_bl_68 · 24 Sep 2009 at 01:23

The tellers give me dirty looks whenever I pay more than £100 into my account. But according to your avatar you look exactly like Christopher Walken so maybe that has something to do with it.

Azagoth · 24 Sep 2009 at 01:26

jp_bl_68 said:
The tellers give me dirty looks whenever I pay more than £100 into my account.

If that's the case then you should complain, close the account and move to another bank.

jp_bl_68 · 24 Sep 2009 at 01:40

You're probably right. But I've only just memorised my pin number and filling out forms makes me sleepy.