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    depositing money in to bank account

    Hi

    I have saved around £2k in cash through gifts, selling personal items like my PlayStation etc and I want to deposit this in to my bank account

    Will I have any issues depositing this?

    I'm thinking of putting it in every two weeks or so at a rate of £300

    It isn't a huge amount

    18 Comments

    wouldnt have thought so .My bank imformed me it was only on trans-action over £10K but it could have changed in the meanwhile .

    Shouldn't be an issue to deposit it all at once. They ask a few questions if you pay in £10k or more but even if they do you have a legitimate source for the money so don't worry.

    The bank will ask no questions about your deposit even all at once. The tax man however at some stage may raise an eyebrow. Its not the amount as such its the irregularity and method that may cause the bank to alert money laundering people. For goodness sake dont just put it in for a temporary period to take it out and spend it.

    Original Poster

    momartin

    Shouldn't be an issue to deposit it all at once. They ask a few questions … Shouldn't be an issue to deposit it all at once. They ask a few questions if you pay in £10k or more but even if they do you have a legitimate source for the money so don't worry.



    The thing is I don't have receipts for selling second hand household goods on gumtree like I sold my phone for £300 to my mate.

    Banned

    £2k is nothing to worry about & well below any money laundering sum that might trigger an alert.

    Original Poster

    YouDontWantToKnow

    £2k is nothing to worry about & well below any money laundering sum that … £2k is nothing to worry about & well below any money laundering sum that might trigger an alert.



    Would it be ok for me to take the £2k and use the deposit machine to put it in or will I have to go to the cashier window?

    Banned

    WestMidlands

    The thing is I don't have receipts for selling second hand household … The thing is I don't have receipts for selling second hand household goods on gumtree like I sold my phone for £300 to my mate.



    It doesnt matter. You will be fine.... Unless the money is covered in dye...

    You will be fine paying £2k in at once, paying £300 in separate occasions can be seen as more suspicious believe it or not.

    Banned

    WestMidlands

    Would it be ok for me to take the £2k and use the deposit machine to put … Would it be ok for me to take the £2k and use the deposit machine to put it in or will I have to go to the cashier window?



    Go to the window & get a receipt. Its safer.

    i put a few grand into my account every so often and never had a problem. so two grand will be fine. if you do it regularly then the tax man may ask questions rather than the bank.

    but as the first post states, it is normally above 10k that alerts attention but staff are required to alert the fraud office if they detect suspicious activities. i doubt if 2 grand will fall into that.

    WestMidlands

    Would it be ok for me to take the £2k and use the deposit machine to put … Would it be ok for me to take the £2k and use the deposit machine to put it in or will I have to go to the cashier window?


    Use the counter staff, it will go in to your account same day whereas the machines take a day extra.

    Nobody at the bank or HMRC will bat an eyelid at your transaction, dont worry in the slightest.

    WestMidlands

    Would it be ok for me to take the £2k and use the deposit machine to put … Would it be ok for me to take the £2k and use the deposit machine to put it in or will I have to go to the cashier window?



    You'll be fine, I have paid in much larger sums, they are not going to refuse your cash but as someone else advised make sure you ask for a receipt though.

    The deposit machines only take 50 notes at a time so best to go to a cashier anyway.

    joshp

    You'll be fine, I have paid in much larger sums, they are not going to … You'll be fine, I have paid in much larger sums, they are not going to refuse your cash but as someone else advised make sure you ask for a receipt though. The deposit machines only take 50 notes at a time so best to go to a cashier anyway.



    yes, this is true. the machines can't cope with large number of bills and it takes ages to do so as the others have said, just go to the cashier and it will be fine. two grand is nothing to worry about.

    I paid in 9.5k in cash from a car sale, no questions asked.

    I regularly transfer money from an overseas account and don't have an issue with deposits under £10k. If you read the independent it's £15k or thereabouts.

    independent.co.uk/mon…tml

    just don't go in looking like a chav smelling of weed shouting kiss my moolah
    Edited by: "sowotsdis" 18th Aug 2016

    Original Poster

    sowotsdis

    just don't go in looking like a chav smelling of weed shouting kiss my … just don't go in looking like a chav smelling of weed shouting kiss my moolah



    Hah

    sowotsdis

    just don't go in looking like a chav smelling of weed shouting kiss my … just don't go in looking like a chav smelling of weed shouting kiss my moolah



    or worse still, forgets to take that mask off
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