You must be referring to some long out of date time when you worked at "numerous banks".
Yes, it was a while back when I did salaried work. Now I work per hour, very occasionally by choice. I start at £400 ph so that I can lose half in tax and still think I've done OK. You'd be surprised how many companies are willing to pay my rate, often banks. Usually I find them a much cheaper, better fit for the job after I've got my share. I pay all my tax due.
>All the banks have cash limits and will follow the FCA guidelines, which are to limit cash deposits to £10k per annum or £1,000 per 24 hours. If you deposit more than £1,000, but >below the £5K limit where you might still be asked for proof of origin. Above £5k you will be asked for proof of origin.
I said £1000 per day max. I've been with some of these banks since the 1980s.
>Even if you are under their arbitrary limits, what they do in reality is make it very difficult to pay cash in. If you try to pay cash in frequently in to a personal account, you will >almost certainly get blocked and most likely reported. Even smaller amounts; the banks call it structuring.
I haven't found that. Suggesting that you might be moving, £100K of business to a competitor soon puts them back in their box.
Yes, I think I said they limit to 20 bags sorted per day, so I do 20 x £20 = £400 . They are mostly charity, sole trader accounts (so they expect very small and very large amounts e.g. - festivals, funerals, weddings etc).
When they had wall cash drop nightsafes they had agreed limits.
>If you have a business account and the account can justify cash payments, you can usually pay larger amounts in and / or more frequent smaller deposits. However, this will be >brought to the attention of your account manager, and they will be asked to check that this is for legitimate business transactions and ask you to explain why you are taking cash - >e.g. are you a retail operation, what are you selling etc. I know because I have been asked on the handful of occasions when I have paid cash in.
I know the account managers personally, some I play golf with (I let them win)
They rarely ask me about my business except to say how well I'm still doing and I never them ask for the safe combination or the weakest wall
>As for the money transfer bureaux's, they are also bound by the UK AML rules and are under close scrutiny. I also know of people trying to send money home (Brazil) and the >money is held (by the Brazilian bank) until proof of employment in the UK and or source of funds is substantiated. That money when held is rarely returned.
I have never used them in this country. We used to use Western Union to send pay checks many years ago when abroad.
I know some people who have said their illicit money was from betting. This is so easy to check. I've always been very honest with banks, government agencies. I know kids who have had all their banking faciliities blocked due to money laundering (usually they were approached on social media) and found it very difficult and expensive to get back on an even keel. A lady I know can only get a basic bank account with no option of any credit after being blacklisted - she lost her house, car etc.
If it looks too good to be true....
