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Bank Branch Deposit

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tali1 | 20:37 Thu 12th Dec 2019 | How it Works
5 Answers
My friend says he tried to deposit £1000 at Llyods bank- and he was asked the source- i find that a bit surprising -as i thought the amounts were generally far higher ?
Also, a friend owed him 5k and transferred into his account.My friend then transferred that to a new isa he had opened.He then got a letter from LLyods about the transaction.
Admittedly the 5k was a one -off payment but my friend has a reasonable income coming in every month.
No doubt banks will have their own criteria but it seems Llyods set the strictest thresholds ?
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Avatar Image bednobs
no they all do it now
20:38 Thu 12th Dec 2019
Avatar Image Tilly2
Money laundering safeguards.
20:40 Thu 12th Dec 2019
Avatar Image TonyV
All to do with money laundering that banks are worried about.
20:40 Thu 12th Dec 2019
Avatar Image Tuvok
I'm never asked when I put £1k in cash into my bank, nor am Ai asked when I withdraw it from another bank.
22:04 Thu 12th Dec 2019
Avatar Image tali1
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Tuvok -Exactly it can't be blanket "Money laundering"
14:27 Fri 13th Dec 2019

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Bank Branch Deposit

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