What to do with a large amount of cash?
Discussion
Of course, this is a hypothetical question....
A recently widowed elderly woman has £20k in cash secreted in her house. Totally legit, her late husband didn't trust banks. She doesn't want to have the cash lying around now that he has passed away.
What's the best way to get the money into the banking system without falling foul of money laundering rules, and maximising interest?
As I said, the money is totally legit, accumulated over the last few years. Husband told her to withdraw all their pension money (state and company) each week, and what she didn't spend in Tesco got put into a tin.
My thoughts are to open several interest-paying current accounts, Nationwide, Lloyd's, etc.
A recently widowed elderly woman has £20k in cash secreted in her house. Totally legit, her late husband didn't trust banks. She doesn't want to have the cash lying around now that he has passed away.
What's the best way to get the money into the banking system without falling foul of money laundering rules, and maximising interest?
As I said, the money is totally legit, accumulated over the last few years. Husband told her to withdraw all their pension money (state and company) each week, and what she didn't spend in Tesco got put into a tin.
My thoughts are to open several interest-paying current accounts, Nationwide, Lloyd's, etc.
Gassing Station | Finance | Top of Page | What's New | My Stuff