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What would be a suspicious sum of money to pay into another person's UK bank account ?
My dad tried to pay some money into my account to help me move away , I don't know the amount but they would not allow it to prevent money laundering.
7 Answers
- Girlie ElectricsLv 714 hours agoFavorite Answer
There's usually no issue if using bank transfer, up to 10K or depositing a cheque.
Paying in cash is no longer possible unless you are the account holder (& have ID)
- MaxiLv 710 hours ago
Then your dad couldn't prove where the cash was from, where as a bank transfer of money proves it was already in an account and so legal/traceable. ALL and anything over £10k is automatically reported to HMRC by all and any bank
- TavyLv 71 day ago
Then you and Dad with his ID should have gone to your bank and explained.
They are open.
U.K.
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- Anonymous1 day ago
You need to talk to your bank, to explain. Banks are instructed to spot/report suspicious money laundering transactions. If your account normally received large deposits, it would not be questioned.
- 1 day ago
Banks have to ask questions to prevent money laundering. I expect your dad's bank asked for the source and he declined to answer. When I paid off lump sums on my mortgage I also had to describe the source. So that's what needs sorting out.
- ?Lv 71 day ago
Anything more than £8,800 can be randomly investigated, they will still eventually make the transfer. You can't get around it making a series of smaller transfers, they look for that too. It may change soon because it was EU policy.