Stupid question alert -what is procedure for withdrawing large sum of cash from bank account?

[Thisoldheartofmine]

Paying for building works .
Son has several thousand in current account and will be funding .
Is it going to involve personal visits to bank , on line checks etc .
Sorry to be dense .

Are you paying cash or bank transfer?

We paid for garden landscaping in cash. We had to go to the counter and produce ID from memory. The cashier then read from card about scams etc and what to look out for - were we been coerced etc
Eventually we got the cash we asked for. It was around £4000, but whether it would be the same for larger amounts. I would expect you need to pre-warn them for large sums to ensure they have the cash in branch

How large a sum are you talking about? As the answers will depend on the amount as there are generally limits on both cash withdrawals and daily transfers over a certain amount.

Oh thank you so much for replying , that's really helpful.
I think it's going to be £4 or £5000 .

It varies between banks. I needed to withdraw £3000 on cash earlier this year and called the bank to increase my daily withdrawal limit.

Bank transfer is much easier and would expect to be able to do that for a large payment with a reputable tradesman.

So are you paying cash ir bank transfer?

Ask the tradesmen to give him their bank details and pay by BAC if he has online banking

It will obviously involve a personal visit to the bank unless he prepares ahead and uses a cash machine to withdraw the max amount each day.

At my bank (Nat West) I recently withdrew about 5k and all they needed was my card and pin, though I also took ID to be on the safe side. They ask what it’s for, and check that you are not being scammed/coerced. It’s fine to say it’s for paying for work on your home.

Bank transfers may have a limit, but usually at least £25,000 per transaction and usually you can just do more than one in a day. Building work should be paid for in stages so shouldn't be a problem.

If you draw cash be prepared for them to ask if it's for building work and have a suitable reply ready, the implication is tax avoidance by the builder and you could both get into trouble.

Ha ha , bless you.

I’d suggest BACS too, I know with Monzo you just have to request a limit to be raised for that date ahead of time, with ID required

What do you mean, we pay all our tradespeople back transfer

There is often a reason why they want it in cash and not by bank transfer.

lol it’s right there in the title it’s cash, she’s withdrawing it.

Op we have done several thousand, we always tell the bank in advance by calling telephone banking so they can notify the branch,

we then need to prove Id. A manager usually has to sign it off, they then read a card to ensure you’re not being scammed or coerced, then you sign and take the money, takes quite a while but relatively simple.

I wouldn't pay in cash, full stop.

Why? I have many times it’s fine,

I rang them up and they authorised a large withdrawal which I could take out of an ATM (but had to make about five withdrawals of the maximum amount if that makes sense!).

Many trades offer discounts for cash. Perhaps have a think about why that might be.

Banks are super hot on fraud now as so many especially elderly persons are being scammed;as well as debit card & ID you'll be asked a series of questions about where the money is going. Unless this is a tradesman you know/trust, I wouldn't pay cash

You'll need your card, some photo ID and most banks will ask to see the invoice if you say it's to pay a contractor.

I took out a few grand in cash recently enough. It was a building trust/ credit union I needed to warn them so maybe advise him to call in a few days before he needs it

Because common sense? So you have a paper trail and solid proof of payment in case they try and scam you. Trades people only ask for this amount in cash when they don’t want to declare it. I’m the sort of person who isnt really bothered whether by builder is paying his taxes, it still immediately says that the company is not 100% above board though.

I wouldn't pay a tradesman thousands of pounds in cash. I am well aware of why they do it but I refuse to condone it. Not to mention that if they walk away and there is no evidence you have paid them how would you get any redress? Crazy idea.

I did it with builders and regret it. Not because anything bad happened but it felt and was wrong.

I had to phone ahead to arrange it and they ask for a password and ID on the day, then stupidly, count it all out in full view of the banking court so that all and sundry can see you're carrying a large amount of cash. I wouldn't ever do it again.

It was more than your amount though OP.