Lodging cash from sale of car? (£12k)

[Deep Thought]

I've just last night sold my car and the buyer paid with cash. £12K in £20 notes.

He seems legit and talked of having recently sold a jetski.

Am i likely to experience any pushback from my bank when i go to lodge this today?

Thanks in advance

[Swoxy]

No - they will probably ask you where you got it from.

[Evolved]

No. It’s not a huge amount.

[mike74]

Swoxy said:

No - they will probably ask you where you got it from.

He could possibly ''reach out'' to them beforehand.

[SS2.]

Last week, I paid in just under £10k in mixed notes last from a charity event we held - not so much as an eyebrow raised by the cashier, more interested in chatting about the weather..

[Deep Thought]

Thanks for the replies.

Sounds like it wont be much of a problem.

[VeeReihenmotor6]

You'll get a verbal question from the cashier to ask where it came from, if at all.

[TonyRPH]

£20 notes used to be the most forged note.

I recently saw a forgery of the new polymer note - there were some blatant errors however, but the person concerned got caught out by them.

I find it odd that someone would carry £12k around in £20 notes - the first thing I'd do would convert them to a higher denomination.

£12k in £20 notes is 600 notes!?

Hopefully they're not forgeries OP....

[Simpo Two]

TonyRPH said:

I find it odd that someone would carry £12k around in £20 notes - the first thing I'd do would convert them to a higher denomination

Doesn't matter - if you get mugged you still lose £12K, and you save a trip to the bank...!

[Spevs]

If your that concerned you could split it into three and pay it in over a few weeks.

I have found that certain banks, HSBC & Santander have more rigorous policies on cash deposits than say Nat West, so I don't think you can draw a general rule of thumb. Good Luck.

[Deep Thought]

TonyRPH said:

£20 notes used to be the most forged note.

I recently saw a forgery of the new polymer note - there were some blatant errors however, but the person concerned got caught out by them.

I find it odd that someone would carry £12k around in £20 notes - the first thing I'd do would convert them to a higher denomination.

£12k in £20 notes is 600 notes!?

Hopefully they're not forgeries OP....

Yes it did cross my mind too.

£20 x 50 notes, all neatly bundled up in to thousands.

I have his name, address, where he works, etc. He seems legit and the notes all look legit but i guess we'll find out soon....

[Simon_GH]

It’s perfectly legal to buy a car with cash and you’ll have some sort of receipt / V5 slip etc. to evidence the sale. I’d want it paid in before I lost it or worse.

[Simpo Two]

anonymous said:

[redacted]

I think he meant the seller of the jetski would change them to £50s so he had less volume to carry when he went to buy the car. Still doesn't make sense though.

[nunpuncher]

Spevs said:

If your that concerned you could split it into three and pay it in over a few weeks.

I have found that certain banks, HSBC & Santander have more rigorous policies on cash deposits than say Nat West, so I don't think you can draw a general rule of thumb. Good Luck.

Doing that is more likely to raise suspicion.

The AML training for banking staff (I had to do it last week) teaches staff that regular cash deposits of round sums of money is a red flag. A single lump sum of cash of a believable value for a car is far less suspicious.

[pork911]

TBH i've never met a jet skier i'd trust

[georgefreeman918]

We were paying in some cash at the weekend in Santander, where you can make cash deposits of £2k per day through the hole in the wall, if you didn't want to get questioned by anyone.

[TonyRPH]

anonymous said:

[redacted]

[AdeTuono]

Simpo Two said:

anonymous said:

[redacted]

I think he meant the seller of the jetski would change them to £50s so he had less volume to carry when he went to buy the car. Still doesn't make sense though.

No sense at all. If I've ever sold a car for cash and get £50 notes, the first (not first, but you know....) thing I do is change them into £20's. £50 notes are a pain to spend, even in supermarkets.

[Deep Thought]

pork911 said:

TBH i've never met a jet skier i'd trust

[Deep Thought]

Well thats the money lodged.

As a precaution i'd the V5C with the blokes address on it and i'd the facebook chat referencing the agreed price etc, but when i got to the cashier she just said "i assume you've just sold your car, given you've the V5C with you" and i replied yes and that was it.

All counted and lodged.

Not sure if they subsequently check for counterfeit notes but its in the bank anyway, so thats as much as i can do really.