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Original poster

Bank questioning our deposit of 4k ! Why?

152 replies

Selfraisings · 05/09/2023 17:19

Dh has sold his electric bike as he has arthritis and it wasnt for him anymore . He sold it for cash at buyers behesr.
we took it to the bank today.. was treble quized.. thats a lot od cash, where is it from , told them , rhen we got grilled what sort of bike was it , on and on.. then they asked again.. how did you get the money again.. felt like we were really being grillled / suspicious.. what going on ?? !! Are they going to put the spotlighy on us or something?!!!
feel like the implication is we have done something wrong?!

OP posts:
misssunshine4040 · 05/09/2023 17:20

I guess they are just being super cautious regarding money laundering.

Not nice but I think cash is uncommon now for large purchases. Bank transfer is preferred and then it's traceable at least.

Don't take it personally

ChilliPixie · 05/09/2023 17:22

Their questions are definitely to do with money laundering.

Fightyouforthatpie · 05/09/2023 17:24

Yeah - it's the usual story - they turn a blind eye to billions of dirty cash every week, but your bike is what they concentrate on.

Janieforever · 05/09/2023 17:25

This is normal. They have a checklist and what they are supposed to ask to ensure no criminal activity. It isn’t personal.

myusernamewastakenbyme · 05/09/2023 17:25

In future just say you sold a car....it should stop the questions.

Oysterbabe · 05/09/2023 17:27

Just standard money laundering shit. They have to do it.

Hellocatshome · 05/09/2023 17:28

Its to check for Money Laundering they have to do it. Although I am 99% sure if you were money laundering you wouldn't just say "oh yeah this is the proceeds of crime".

DeedlessIndeed · 05/09/2023 17:28

Agree with money laundering protocols. They're just doing their job.

Electric bikes are also really mixed in with a lot of organised crime now so may have added a red flag.

MidlandCatGirl · 05/09/2023 17:32

As others have said, it’s down to money laundering.

I went to the post office last week, my child had saved up loads of 1ps, 2ps and 5ps, put them all in separate plastic change bags but the post office wouldn’t accept to change over. I then went to my local bank who agreed to change the pennies to pounds but I had to have it paid into my account and then withdraw it again. Was told that regulations re money laundering and everything needing a paper trail now is why this is happening.

Callipygion · 05/09/2023 17:33

You should have said you’re a Tory mp.

Itsjustmeee · 05/09/2023 17:36

I just say it’s to pay my credit cards
I have secondary card holders on my credit card and they often give me cash when they use the card

never been questioned that’s Santander and Lloyd’s and it’s often 3-4 k

JaukiVexnoydi · 05/09/2023 17:37

You presumably have some kind of written record of the transaction? Eg emails, a receipt etc? As a buyer I would insist on there being some kind of proof of the transaction otherwise you could pocket the money and then report the article as stolen! Show the bank the details of the correspondence including the buyer opting to pay cash.

Maybe the notes you deposited are watermarked as having been part of the haul of a bank robbery? Or maybe there's loads of cocaine traces on the notes such that there's reason to believe that they came from a drug deal? How much do you know about the person who bought it?

CatsOnTheChair · 05/09/2023 17:42

I've no idea what "buyers behesr" is, but why didn't he get an electronic transfer for that amount of money?
I'm not surprised the bank questioned it.

VisionsOfSplendour · 05/09/2023 17:45

Totally normal, I'm surprised you're surprised It's nothing personal

IReallyStillCantBeBothered · 05/09/2023 17:46

CatsOnTheChair · 05/09/2023 17:42

I've no idea what "buyers behesr" is, but why didn't he get an electronic transfer for that amount of money?
I'm not surprised the bank questioned it.

OP meant “behest”.

I personally would not accept that much in cash from a stranger.

VisionsOfSplendour · 05/09/2023 17:47

Callipygion · 05/09/2023 17:33

You should have said you’re a Tory mp.

Why would she tell a stupid childish lie for no reason? That's so odd

Silverdogblue · 05/09/2023 17:48

VisionsOfSplendour · 05/09/2023 17:45

Totally normal, I'm surprised you're surprised It's nothing personal

This. Perhaps you could widen your scope of newspapers/media. This is the sort of thing all adults should know.

Katmai · 05/09/2023 17:49

They want to make sure that it isn't drug money.

VisionsOfSplendour · 05/09/2023 17:52

Katmai · 05/09/2023 17:49

They want to make sure that it isn't drug money.

Not really, selling drugs while illegal isn't money laundering, it's almost the opposite

Original poster
Selfraisings · 05/09/2023 17:52

Had no idea that elec bikes are linked to crime! We live rurally and it was usesd to get up hills!

OP posts:
Greyfoot · 05/09/2023 17:53

Yes money laundering requirements and it is a lot of cash and it is a lot of money for a secondhand bike. I'm not sure I'd have accepted it tbh whatever the buyer wanted, what checks did you do to make sure it was genuine?

slobro · 05/09/2023 17:54

Large cash deposit outside usual pattern, they have to ask questions about it and report it if they think it's suspicious. Part and parcel of banking now.

LlynTegid · 05/09/2023 17:54

Crime exists in rural areas. Not just county lines.

I'm glad the bank asks questions, just wish they did it of everyone.

GrandTheftWalrus · 05/09/2023 17:55

I got questioned about paying in a cheque of 7k when my gran died. Where I got it, why it was so much etc. I was really pissed off.

Then they let me pay for a 2k holiday but when I tried to spend 50 on clothes they blocked my card due to fraud.

Hellocatshome · 05/09/2023 17:56

Callipygion · 05/09/2023 17:33

You should have said you’re a Tory mp.

I know you are joking (I hope) but actually being an MP or the relative of an MP from any party is actually a pain in the arse when it comes to opening bank accounts or many other financial transactions as they have to do more checks on you than a normal person.