Changing notes in Bank?
- Thread starter ANDARIAL
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Depositing isnt a problem, in his situation the bank would need 50,000 in new twenties that day to do the exchange
Finally someone with useful opinion/info
Thank You very much
You'll find it's differnt per branch per day per hour, if you know the amount, phone ahead so they can order in the cash same as when you make a big withdrawal.
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And banks and bld soc are soooo reliable too arn`t they
seen a few go breasts up over the years havn`t we
You’re insured up to £80k, so even if the bank goes ‘breasts up’ your money is safe (moreso than in the jar/under the matress’. If it’s more then separate between banking groups.
As long as the cash in and cash out adds up, you won’t have any issue with Mr. Tax man. If you’re after money laundering tips, this probably isn’t the best place.
The one issue I can possibly see with putting a lot of money into the bank/getting it changed that I don't think has been mentioned, is the money laundering rules, that could cause some issues (and IIRC can apply if you buy a car from a dealer with a lot of cash).
No chance unless it was a business account.
Current accounts its about £9k anything above and they want to know where it come from.
If the bank does not get you the tax man will. You have to be very careful when dealing with large amounts of cash.
Deleted member 651465
Deleted member 651465
Not a business account. No questions asked in Halifax
This was at least 3 years ago, so not worried that the tax man is coming for me.
It is when the £50 pound notes were changed I know someone who was running around trying to change £20k that he had stashed.
He could not go into the bank to change it so he was asking everyone to take bits of it to exchange with other people.
Big cash = big problems when moving around, unless you have evidence were it come from.
It won't really make much difference in this case?
If he's saving up money from cash jobs and then buying a car with it, it's not going to go on the company accounts. If he puts it properly through the accounts as a business expense, it'll offset his tax bill.
Not a business account. No questions asked in Halifax
This was at least 3 years ago, so not worried that the tax man is coming for me.
I bet the bag was very heavy as I have drawn £10k cash out the bank, they went wonky donkey on me but bloody hell it was a weight.
All bank accounts you pay tax on the interest, so you have to be very careful.
Deleted member 651465
Deleted member 651465
This was in mostly £50 notes, so not that bad.I bet the bag was very heavy as I have drawn £10k out the bank, they went wonky donkey on me but bloody hell it was a weight.
All bank accounts you pay tax on the interest, so you have to be very careful.
No it's not a problem for the op he wants to just swap it.
And depositing isnt a problem for legit cash lol
Your friend sounds like an idiot he could have easily gone into banks and got that changed over a day or two
What a load of tosh. Big money is only problematic if you're sketchy as hell and trying to circumvent legislation and tax. Nothing to hide, nothing to fear etc
Problem is it was not legit.
I stayed out of it as he asked me to swap the money I declined.
Surely you're getting robbed more if all your money is being controlled and spent by other entities like banks?
I can see posting this in GD was a mistake
Unsubscribing from this now
Have fun being unhelpful people
You cant blame these people, they have been brainwashed and are being mind controlled into supporting things which milk them for everything.
Why wouldn't (or shouldn't) they have 50,000 in cash available? 50k is nothing lol, Surely they should have at least several hundred million in cash.
Most working people who are having their cash eaten by the local bank will have minimum 1K per month coming in. times that by the working population that is a ****load of money. Unless you're telling me that the banks are siphoning off the money there's absolutely no reason why a bank shouldn't have 50,000 available for the OP.
Soldato
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Very few branches will carry that much cash. Source: a friend who used to work for Lloyds in group security.
Have you ever taken out money at all? Most bank will have a limit per branch on what you can take out without advanced notice. If I walk in and want 10k I won't get that day.
It's all very simple.
That is shocking. 50k is such a small amount of cash lol. You can fit it in a pocket lmao it's kind of worrying they wouldn't have it in a bank vault.
So 50 cant withdraw 1K in one day from a bank because they'll run out of money? I thought it was bad but not this bad
Cant imagine the bank runs when the collapse happens.
It's going to be terrible.Yeah I think I will take it all out now, and look at other safer and more assured means of storing cash.
possibly you NEED ID, some banks have paying in machines though and they can count like 50 notes.
I know if you buy currency when it's over around £800 you need photo ID
I'd assume banks are somewhat similar but if you have your card and pay in your own bank maybe it's fine, if you were paying into someone elses with their bank details maybe they would want ID if it's around £1000
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