Bank Want To Know What I'm Buying?

[neenaw]

I was in a branch of my bank today to pick up some cash for a car I was buying and was a bit annoyed with their annoying questioning about what I was spending my money on.

I've read some other posts here which say how the bank must ask what you want the cash for due to money laundering regs but surely it's taking the piss if I have to provide proof of the car I'm buying?
I had the guy in the bank asking where the car was advertised so they could check that it was genuine. Surely this is taking the piss is it not?

I'd already called in advance and arranged to collect the cash so it's not like I hadn't already gone through this with the bank previously.

So, was I right to be a bit miffed with having to waste my time jumping through their hoops to get my own money out of the bank?

[jgy6000]

I have been asked before, said I was purchasing a car, that was it money handed over. I would be annoyed if they started checking the for sale advert etc. it's none of their business what I spend my money on.

[AAD44H]

I'm a bank manager and all we would ask it what are you buying, never would go as far to see the advert unless both interested in cars and asking from that point of view.

[Terminator X]

Get money elsewhere next time from someone less nosey I suggest

TX.

[otolith]

That's such a cunning ploy though, there must be so many people withdrawing money for illicit purposes who lack the wit to lie about what the money is for and confess to everything at the bank counter. Clearly not a complete waste of everybody's time

[grumbledoak]

Last time I wanted £3k with no notice I was asked "Builders?" and answered "Decorator". She didn't care. I think they know it's a pretty stupid question.

ETA - I should have said "Drugs".

[0000]

I wonder what happens if you say drugs.

Last time I was asked what 30k for they suggested it could be for savings, so I agreed.

[GoneBananas]

yes, this question annoys me and I always make up the biggest most fantastic lie possible to make their question worthless.

[MajorProblem]

Always say drugs and guns. They still hand the money over.

[z4chris99]

I say drugs every time. mind your own business

[neenaw]

I should really have been a bit more sharp witted and told them coke and hookers but knowing my luck they'd have closed my account and seized the funds!

[VinceFox]

Tell them if they ask again you'll close the account.

[VinceFox]

swerni said:

VinceFox said:

Tell them if they ask again you'll close the account.

Am sure they would be absolutely gutted

It's a standard and utterly pointless question, but one they are new meant to ask.

Worked for me.

[VinceFox]

swerni said:

VinceFox said:

swerni said:

VinceFox said:

Tell them if they ask again you'll close the account.

Am sure they would be absolutely gutted

It's a standard and utterly pointless question, but one they are new meant to ask.

Worked for me.

Do you really thing it's on your record, never to ask what the cash is for?

Ive not been asked since and it was 2-3 years ago.

[VinceFox]

swerni said:

Trust me, it aint on your record. it entirely depends on the branch and individual.
No bank gives a toss about your or my account.

Not like it was in the old days I'm afraid.

To be fair, ive only used that branch, but ive definitely ot been asked again.

I was asked about why i had a large amount in a current account once too. Presumably they wanted to offer me a different account type or something.

[bugmenot]

MajorProblem said:

Always say drugs and guns. They still hand the money over.

z4chris99 said:

I say drugs every time. mind your own business

They'll still hand the money over but it will get reported. The NCA will look into it and eventually conclude that you aren't a criminal - thank you for wasting tax payers money.

neenaw said:

I was in a branch of my bank today to pick up some cash for a car I was buying and was a bit annoyed with their annoying questioning about what I was spending my money on.

I've read some other posts here which say how the bank must ask what you want the cash for due to money laundering regs but surely it's taking the piss if I have to provide proof of the car I'm buying?
I had the guy in the bank asking where the car was advertised so they could check that it was genuine. Surely this is taking the piss is it not?

I'd already called in advance and arranged to collect the cash so it's not like I hadn't already gone through this with the bank previously.

So, was I right to be a bit miffed with having to waste my time jumping through their hoops to get my own money out of the bank?

OP, was this HSBC by any chance? They've had a few changes in policy recently and are now strict about this type of thing.

[0000]

bugmenot said:

They'll still hand the money over but it will get reported. The NCA will look into it and eventually conclude that you aren't a criminal - thank you for wasting tax payers money.

I don't buy it. It might well get reported to somewhere but I don't believe for a second the answer to the questions asked can be used to differentiate criminals from the law abiding. If tax payer money is wasted on this it's not wasted by someone giving drugs as an answer - if anything, that's probably the group least likely to be doing something illegal.

[bugmenot]

0000 said:

I don't buy it. It might well get reported to somewhere but I don't believe for a second the answer to the questions asked can be used to differentiate criminals from the law abiding. If tax payer money is wasted on this it's not wasted by someone giving drugs as an answer - if anything, that's probably the group least likely to be doing something illegal.

Of course your answer won't be used to determine whether you are a criminal. But it has to reported and therefore it has to be investigated - even if that just means somebody deciding that it's a bogus answer.

[wolf1]

anonymous said:

[redacted]

Boats n Hoes

http://www.youtube.com/watch?v=xLWHzEP_0Rw

[0000]

bugmenot said:

0000 said:

I don't buy it. It might well get reported to somewhere but I don't believe for a second the answer to the questions asked can be used to differentiate criminals from the law abiding. If tax payer money is wasted on this it's not wasted by someone giving drugs as an answer - if anything, that's probably the group least likely to be doing something illegal.

Of course your answer won't be used to determine whether you are a criminal. But it has to reported and therefore it has to be investigated - even if that just means somebody deciding that it's a bogus answer.

Still don't buy it. So what's done on these investigations?