Banking

milk monitor · Post by **milk monitor** » Wed Nov 22, 2006 4:21 pm

I saw a note from Toothless regarding the banking of £100 whenever his float allows him to do so, and I am sure that a lot of people have banked cash on this site from winnings on fruit machines. My question therefore is; how much cash can you put through your current account before it sets alarm bells ringing with the bank/inland revenue etc.

Heard stories of pro players having their accounts frozen until the moneys can be substantiated anyone else heard this?

toothless11 · Post by **toothless11** » Wed Nov 22, 2006 6:07 pm

Ive done this for a long long time now and there has been no alarm bells ringing yet. I mean, if your not registered as a full or part time emploer then things might go wrong. Ive seen before, on bravo... the world's best gambling scams and a bloke was rodding a m/c. After about 6 months he racked up over £60, 000. Police got involved and the boy didn't get imprisoned but all his money taken away from him.

I know we are only talking about £100 a week and im sure you won't get caught out or have alarm bells ringing. Depends on what bank you are with. im with nationwide and i have no probs bud.

ssgtsnelly · Post by **ssgtsnelly** » Wed Nov 22, 2006 6:31 pm

my dad works in a bank and ive had a word with him and for the bank he works for normal current accounts are generally note questioned up to the £10,000 mark after that they tend to suggest you have an account manager or put it into high interest accounts.. hence when you want to buy something like say a new car costing £20,000 you will have to ask you bank to transfer the money into your current account for use.

Fader · Post by **Fader** » Wed Nov 22, 2006 6:55 pm

I normally make about 20 grand a week on bell fruits, reds and other crap machines, i was wondering would they say anything to me if i walked in every friday pants down with 20 thou pound coins??

Spyder · Post by **Spyder** » Thu Nov 23, 2006 12:06 am

lol fools!

go into the local bookies, put all the £1's in the roulette machine

press collect... and bobs ya uncle 5 x £20 notes

easy as pie

jeffvickers · Post by **jeffvickers** » Thu Nov 23, 2006 1:02 am

Moderator,

please don't allow this forum to become a home for superarcadia Comedians. they are so funny, they should have their own show on prime time TV. However I do not wish to watch prime time nonsense,

so MAY i RESPECTFULLY REQUEST DELETION OF NONSENCE POSTED ON THESE PAGES

THANKYOU

bigv038 · Post by **bigv038** » Thu Nov 23, 2006 5:18 am

i can see jeff being very popular here

toothless11 · Post by **toothless11** » Thu Nov 23, 2006 9:32 am

Lol anyways Spyer... everytime i have put say more than £20-£30 coins in the ladbrokes or anyother bookies roulette m/cs they shout" Oi stop putting those coins in! If you want change come get notes from here! The bloody thraud sign has come up on my computer!" Everytime this happens and is doing my head in! lol

Seems a bit weird why they would have a fraud note come up when you put in a few quids? mmmm

anfield road · Post by **anfield road** » Thu Nov 23, 2006 10:55 am

Spyder I am with you on this, I go on the roullette put all me £1 coins in and then do about 10 £1 spins too make it last so it looks like im not trying to do a coin collection and then off I go.

Although in Rhyl in 3 of the arcades they have coin machines were you put your £1 coins in and then press the £20balance button and it changes it all into £20 notes

JustAnotherClone · Post by **JustAnotherClone** » Thu Nov 23, 2006 2:46 pm

ssgtsnelly wrote:my dad works in a bank and ive had a word with him and for the bank he works for normal current accounts are generally note questioned up to the £10,000 mark after that they tend to suggest you have an account manager or put it into high interest accounts.. hence when you want to buy something like say a new car costing £20,000 you will have to ask you bank to transfer the money into your current account for use.

Could you also find this out....

Do the bank question large amounts of money going into your account via transfers? Also what is the most i can prearrange to withdraw from an account in cash without them asking any questions on it?

Hm just thought that sounds well dodgy but ill ask anyway

ssgtsnelly · Post by **ssgtsnelly** » Thu Nov 23, 2006 3:22 pm

ill ask my dad mate...will let you know but i would imagine it will differ depending on the bank in question.

JustAnotherClone · Post by **JustAnotherClone** » Thu Nov 23, 2006 3:31 pm

Cool cheers

pokerpete · Post by **pokerpete** » Thu Nov 23, 2006 3:45 pm

I worked in a high street bank for three years so can help a bit with this question. you can't put a figure on 'suspicious behavour' it's more about experience.

If you're banking gambling winnings I don't see what the problem is. you are not required to pay tax on gambling in the UK and if your account runs in credit your bank will be happy.

If your funds are as a result of illegal activity then that's a different matter. money laundering is a big concern for banks and the police (not really Inland Revenue though) and that's spotted in many different ways.

although I don't anymore, I played mainly live poker for a living for 18 months not long ago and as such, dealt mainly in cash. I had to deposit sums of cash large enough to cover several months household bills if I'd had a big win and inevitably I was asked about it. I simply told them I'd had a win at the casino. Many banks have a policy that if you're asked about 'suspicious behaviour' and you give a response they're happy with they'll jot it down on the paying in slip. covers them and you. If you give them an answer they are not happy with you'll never hear about it. they will pass your details on to a national fraud unit who will investigate and when they find out you aren't money laundering will stick it in a false leads file. end of story. The bank will never let you know they suspect anything as thats known as 'tipping off' and is a very serious crime.

But as I say, £100 profit from gambling is niether illegal, taxable, or of any concern to your bank, the Inland Revenue or the police.

with regard JustAnotherClone's question. you should be asked what the withdrawal is for if it's out of character for your account, weither it's £5k or £50k. if you simply answer honestly no problem. Large / unusual amounts going into your account followed by large withdrawals smells like money laundering layering and will obviously cause concern. assuming you're not taking cash from criminal sources and passing it on you have nothing to worry about. Again, simply answer their questions honestly. If you are doing the above, SHAME ON YOU

JustAnotherClone · Post by **JustAnotherClone** » Thu Nov 23, 2006 4:25 pm

Thanks for that

luckyben2 · Post by **luckyben2** » Thu Nov 23, 2006 7:38 pm

Have to say I've put through some cash in the past and never got asked... Just the other month I puth through £500 in one pound coins in one day - no problem. This week put through £280 in £1s - again nothing was asked at all.

Of course, I have a job too so probably doesn't ring alarm bells. Funny thing is I bank with nationwide for day-to-day and they accept max. 5 bags of coins on any one day. So I Pay it all in to my HSBC account and then instantly withdraw the cash to pay the notes in to nationwide!!

B.