Transferring money between current accounts

[searchlight]

If you transfer money from your current a/c with one bank to your current a/c with another bank would it be any business of the sending bank as to why you were doing it even though it's your own money
and would they be taking a liberty if they contacted you about it?
Thanks

[squarebear]

They will think you are maybe buying something expensive and will no doubt plague you with calls about loans and insurance etc.

[dzug2]

There could be a money laundering angle to it.

[boxtops]

It depends how much it is. I had an insurance policy mature and my bank (who I have been with since I was 18) gave me the third degree about where it came from and what I was going to do with it - it is all to do with money laundering, definitely. My mum had the same, about £20k to pay in some 20 years back after she'd sold the house, and wanted to open an account with a new bank - they kept her there fore 3 hours quizzing her, she walked out in the end and took her money elsewhere.

[ABerrant]

As per the Money Laundering Regulations 2007, all financial institutions and various other businesses engaging in financial transactions must put in place certain controls to prevent them from being used for money laundering, including the monitoring of customers' business activities and reporting anything suspicious to the Serious Organised Crime Agency.

http://www.hmrc.gov.u.../getstarted/intro.htm

I think I would prefer my bank quizzing me rather than SOCA.