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cup of tea 8:40 Fri Oct 1
Cash Deposits to Savings Account
OK some advice from those in the know or who work in the financial industry if you please.

Long story short a relative (87 years old) passed away and left a simple note saying I had been left a modest sum, all good so far. Thing is he was an old timer that didn't believe in banks and simply left the money in a box hidden away in his flat £12,000.

A nice chunk BUT reading online it seems any cash deposits over £5k now get flagged as suspicious unless you can provide a receipt of where the wonga came from

Simply, do I deposit say £2.5k a month to get it away or if you can't prove where it came from is the old "I won it gambling" still workable? I don't want to keep it as cash and don't want to spend it just yet

Some SOUND advice if you please

Replies - Newest Posts First (Show In Chronological Order)

Mike Oxsaw 1:21 Sat Oct 2
Re: Cash Deposits to Savings Account
Buy Umbrellas - you're in that tax band now.

Personally, I'd just use it to live on and stop withdrawing from my usual sources until it's spent.

You don't HAVE to splurge it all just because it's there - I've got a brother like that and even at his age he can't work out to save money he has now to pay for a bill he knows is due next week.

His apartment is rammed to the rafters with new stuff he's bought "because it was on special offer" but will never use. Like fucking Aladdin's Cave, it is.

ChesterRd 1:31 Sat Oct 2
Re: Cash Deposits to Savings Account
No, the burden of proof is to show that the money is not from proceeds of crime not the authorities to prove it is.

It's not that unusual for old people not to have a bank account but we are obviously only getting half the story here because people don't just die and x or y wanders off with a box load of money. There are legal formalities that need to take place. The box of money forms part of the estate of the deceased.

Sydney_Iron 12:48 Sat Oct 2
Re: Cash Deposits to Savings Account
I would just bank it, maybe keep a couple of grand in cash that you spend over the next few months, even if it gets reported unless they have cause for concern or reason to ask why, not sure they can do much unless you’re a know or convicted drug dealer, scammer or have connections to Taliban types!!!

You can tell them whatever you want, been putting money in a piggy bank for years and decided to bank it, think its up to them to prove it came from a dodgy source or in this case an inheritance that may have some tax implications.

riosleftsock 12:35 Sat Oct 2
Re: Cash Deposits to Savings Account
Not sure if these folk can help with 12k, but I directed my brother to them for a larger sum which he needed to keep completely private.

https://www.octopusoffshoreagents.com/banking-solutions/

it was a few years ago and they got a bank account lodged in Tanzania, but domiciled in Northern Cyprus and issued him a bank card that could be used anywhere in Europe, 10k per day withdrawal.

Not sure if they are the same now, but they charged him about £500 and the whole transaction was completely invisible to the authorities (as far as we know), but you obviously need to trust them, but it worked for him

Fortunes Hiding 12:24 Sat Oct 2
Re: Cash Deposits to Savings Account
My mate banked £64k a few years ago.

Got caught for whatever he was doing and did three years.

That is all.

Browno22 11:25 Fri Oct 1
Re: Cash Deposits to Savings Account
We paid in about 8k from our wedding. A proper bank won't be suspicious if you are honest

Eerie Descent 10:56 Fri Oct 1
Re: Cash Deposits to Savings Account
Is this a serious question?

Spend it ffs

Side of Ham 10:33 Fri Oct 1
Re: Cash Deposits to Savings Account
Branded, you've been listening to too much Cliff Richard..........

BRANDED 10:26 Fri Oct 1
Re: Cash Deposits to Savings Account
One option

Open three accounts

Personally I’d buy some whisky and wine.

ChesterRd 10:20 Fri Oct 1
Re: Cash Deposits to Savings Account
Who are the administrators or if a will made executors? A deceased's estate will have plenty of paperwork involved to show proof of finds.

Mace66 9:20 Fri Oct 1
Re: Cash Deposits to Savings Account
I did it with £10k 2 years ago and £6k last week, I assure you it’s not a problem

Mace66 9:18 Fri Oct 1
Re: Cash Deposits to Savings Account
You won’t have any problem explaining away 12k, just tell it how it is.

As you say it’s not exactly a life changing amount, the bank just has to ask the questions and tick the boxes

Far Cough 9:09 Fri Oct 1
Re: Cash Deposits to Savings Account
Piss it up the wall and squander the rest

cup of tea 9:01 Fri Oct 1
Re: Cash Deposits to Savings Account
I could whack it into the ZAGREB fund I suppose (-:

Westside 8:56 Fri Oct 1
Re: Cash Deposits to Savings Account
Open 3 accounts, with 3 different financial institutions, splitting the cash, keeping below the £5k.

mashed in maryland 8:55 Fri Oct 1
Re: Cash Deposits to Savings Account
Might all be fake notes

Send them all to me and I'll check for you

LongTimeUser 8:54 Fri Oct 1
Re: Cash Deposits to Savings Account
Take the cash to a casino. Change it all up in to chips.
Mooch around for a couple of hours, play a few games here and there, leave.
Go back the next night do the same, cash in your chips and ask for a cheque to pay in to your bank.

cup of tea 8:50 Fri Oct 1
Re: Cash Deposits to Savings Account
Hardly itchy beard it's not like £12k is a lot these days

I don't want GOLD or CRYPTO I just want to DEPOSIT the cunting money

bruuuno 8:48 Fri Oct 1
Re: Cash Deposits to Savings Account
Itchy beard!


Buy gold and bury it or buy Bitcoin





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