Timeline for How to deal with a relative's hoarded cash without being accused of money laundering
Current License: CC BY-SA 4.0
17 events
| when toggle format | what | by | license | comment | |
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| Sep 21, 2020 at 13:38 | answer | added | gwalt4 | timeline score: 2 | |
| Sep 19, 2020 at 17:44 | answer | added | CQM | timeline score: 3 | |
| S Sep 18, 2020 at 23:12 | history | edited | Flux | CC BY-SA 4.0 |
Minor edits.
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| S Sep 18, 2020 at 23:12 | history | suggested | Rodrigo de Azevedo | CC BY-SA 4.0 |
Added tag. Minor edits.
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| Sep 18, 2020 at 22:43 | review | Suggested edits | |||
| S Sep 18, 2020 at 23:12 | |||||
| Sep 18, 2020 at 19:40 | comment | added | alephzero | Simply turning up at a UK bank with £20k in cash which you don't even want to deposit in an account is guaranteed to attract attention. Most UK banks require advance notification of any cash withdrawal of more than £2,500 from an account, simply to ensure they have the cash available when required. Splitting a larger transaction into multiple smaller ones in a short time period will also probably be picked up by their anti-fraud software. You will certainly need to take sufficient personal ID, and have your own personal account with the bank. | |
| Sep 18, 2020 at 19:35 | comment | added | Tim | Note there are now 3 modern versions of the £20. The Elgar note, withdrawn ~10 years ago, the Adam Smith, withdrawal TBC, and the Turing, polymer note, introduced recently. The Bank of England will always exchange old (and even damaged) notes. With other banks your mileage may vary. See bankofengland.co.uk/banknotes/exchanging-old-banknotes | |
| Sep 18, 2020 at 19:25 | comment | added | jmoreno | Not sure about the UK, but in the US trying to avoid attention (even if not guilty of something else) is it's own crime. Personally, I would take all of the money to a bank, and then ask to change it for larger notes. Give the money back to your relative, let him put it back under the bed. | |
| Sep 18, 2020 at 19:10 | history | became hot network question | |||
| Sep 18, 2020 at 13:18 | history | edited | yoozer8 | CC BY-SA 4.0 |
Removed tag from title
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| Sep 18, 2020 at 13:17 | comment | added | Fattie | Actually @gaefan I would urge to NOT do that. It will simply draw attention, to what should be a normal transaction. (To make a bad analogy, I would not specifically ask a policeman, if, I should not speed on a certain road :) ) | |
| Sep 18, 2020 at 13:16 | answer | added | Fattie | timeline score: 9 | |
| Sep 18, 2020 at 12:51 | comment | added | minou | I would call your bank and get their advice. You haven't done anything wrong, and you have a good explanation so it doesn't seem like a big deal. | |
| Sep 18, 2020 at 12:16 | history | edited | Anonymous Worrier | CC BY-SA 4.0 |
Clarified relative's competency
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| Sep 18, 2020 at 12:00 | history | tweeted | twitter.com/StackFinance/status/1306925959539556358 | ||
| Sep 18, 2020 at 11:08 | review | First posts | |||
| Sep 18, 2020 at 11:35 | |||||
| Sep 18, 2020 at 11:05 | history | asked | Anonymous Worrier | CC BY-SA 4.0 |