I just want my cash

[cashman]

It aint a matter of being older neil, its a matter of applying common sense, but one day even you may get there.

[entwisi]

Banks whether you like it or not are highly regulated by the government. One of these is around money laundering to the point that it is MANDATORY that even I who work in a computer centre and has never ever been let near a customer have to undergo money laundering, fraud, sanctions and about 10 other training courses every year to show that the bank is complying with the regulations. Its been in place for many years that requests of over 10K should be challenged, of late that seems to be being lowered by some Banks ( particularly ones that have had issues and fines around sanctions and other fun financial issues) i guess in a case of being over zealous in order to prove to HMG that they are trying to do their best.

[Studio25]

Surely if a bank wants to know why you want your cash because of "money laundering" - it's too late. Once they accept your deposit, it's been through the wash. When you're withdrawing it, that's the spin cycle.

[Margaret Pilkington]

Ian I am sure there are other ways to check if money is being 'laundered' through an account........if the account history show frequent large deposits and withdrawals then it should trigger this kind of response...but for ordinary bank customers who just want to be able to access their money it is a bit sledge hammerish.

[entwisi]

The problem is criminals are typically cleverer than us mere mortals at subterfuge, its also around showing due diligence, whether or not its spin cycle, fraud ( old dears being fleeced fro slates etc) or any other reason the onus is on proving we (as in the Bank ) did everything we can to prevent/challenge.

Banks also spend huge amounts of money on fraud analysis/scanning software, i've been called by automation services for buying a set of expensive tyres for my car because its not something that I do often and is marked as a typically high risk transactions. a simple press of a few keys to confirm it was me based on regular transactions and personal data and then a random pick which of these transactions you did ( where two were made up ) is a decent way IMHO of checking I was not subject to a fraud attack.

[Margaret Pilkington]

I have been called by the fraud dept of my bank a couple of times when high value items were paid for with my debit card...and I do appreciate their diligence in such matters, but when I present myself at my local branch (where I am personally known) I do not value intrusive questions and having to jump through hoops to get what is, my money.
I do not plan to obtain photo ID just to be able to satisfy the bank that I am who I say I am...surely being able to provide my bank card and details of recent transactions should be enough evidence that I have that account...with money in it, that I want to access.

[Accyexplorer]

Originally Posted by Margaret Pilkington

Ian I am sure there are other ways to check if money is being 'laundered' through an account........if the account history show frequent large deposits and withdrawals then it should trigger this kind of response...but for ordinary bank customers who just want to be able to access their money it is a bit sledge hammerish.

"STOP"
"Who goes there? Friend or foe?"
"Oh what the hell"
"BANG"

[cashman]

Originally Posted by entwisi

The problem is criminals are typically cleverer than us mere mortals at subterfuge, its also around showing due diligence, whether or not its spin cycle, fraud ( old dears being fleeced fro slates etc) or any other reason the onus is on proving we (as in the Bank ) did everything we can to prevent/challenge.

Banks also spend huge amounts of money on fraud analysis/scanning software, i've been called by automation services for buying a set of expensive tyres for my car because its not something that I do often and is marked as a typically high risk transactions. a simple press of a few keys to confirm it was me based on regular transactions and personal data and then a random pick which of these transactions you did ( where two were made up ) is a decent way IMHO of checking I was not subject to a fraud attack.

I agree a decent way, but whats being implemented these days don't fit that criteria IMHO.

[dotti34]

On a completely different note – but still about money and the various agencies, some time ago I received a letter from the Income Tax mob here to say that based on information from the Australian Transaction Reports and Analysis Centre they understood that I had made funds transfers to or from another country. They wanted to know about my undisclosed offshore income – although if I had paid tax on this I could disregard the letter.

Well, after I had picked myself up from the floor where I had fallen due to unrestrained hilarity, my first impulse was to tear the letter up. However, on second thoughts I decided to give it the reply it deserved.

If they had looked at my bank account and had seen what my balance was at that time (unfortunately it’s not much better now!) I doubt they would have wasted the postage on sending me the letter. I replied to them in this vein, and eventually got an apology for any blah! blah! blah!

All I can think of as to why anyone in their right mind would think I had offshore investments was that my daughter was living in the Caribbean at the time and the antiquated island she was on didn’t have a great banking system so she would send me money via Western Union to deposit in her account here. Some agency must have reported the transactions – and (as I was the one doing the collecting of the money from the post office AND the money was coming from the Caribbean) the taxman had jumped to the wrong conclusion.

Funny that a little old pensioner (boo! hoo!) should be thought to be guilty of defrauding the Tax Office in this way and investigated when so many ‘big people’ get away with much, much, more.

Now back to the bank thread…..

[Accyexplorer]

I think it was Russell Brand (Ft Boris Johnson) That said "The bankers need to go down".
I know a lot of folk think bankers is rhyming slang, for what they really are, but after seeing these:
Banker plunges to his death from JP Morgan's London headquarters in Canary Wharf | Mail Online
Former top executive at Deutsche Bank found hanged at his Kensington home | Mail Online
Now i know you maybe baffled to the stress of a Ferrari ,huge house, women' Massive bonuses etc.BUT....
A bankers life although rewarding can also be destructive in many ways.
It's shame someone with a high flying career feels desperate enough to take their life.

Id like to say R.I.P an my thoughts are with anyone effected,God knows what demons/skeletons they were dealing with.
Please (for a second) remember their not all bad.

What's with all these bankers killing themselves anyway?
Guilt.....Perhaps folk in forums making them look bad

[Margaret Pilkington]

While I am sure you are right about the stress of such jobs......they knew what they were taking on and were paid handsomely for their stress.
I would also say that they knew where the door was too, and could leave at anytime.
They get used to the high flying lifestyle, and so this colours their judgement.
Their work isn't physical, it isn't dirty, it isn't dangerous.....they are not removed from the bosom of their family.....not like the soldiers who put their lives on the line for folk like you and me...in conflicts not of their choosing.
Not like the doctors and nurses who work tirelessly for the good of the health of the nation.....who deal with sickness and death every day of their lives.
And you are going to tell me that these people also choose their jobs. Yes, and you would be right, but who do you think has the sharp end of the stick?
It certainly isn't those bonus raddled bankers( this excludes those who deal with us at the counters of the banks - they are just minions and are not in the same category).
So forgive me if my sympathy for these men is a bit scant, in this life you reap what you sow!

[Accyexplorer]

Originally Posted by Margaret Pilkington

While I am sure you are right about the stress of such jobs......they knew what they were taking on and were paid handsomely for their stress.
I would also say that they knew where the door was too, and could leave at anytime.
They get used to the high flying lifestyle, and so this colours their judgement.
Their work isn't physical, it isn't dirty, it isn't dangerous.....they are not removed from the bosom of their family.....not like the soldiers who put their lives on the line for folk like you and me...in conflicts not of their choosing.
Not like the doctors and nurses who work tirelessly for the good of the health of the nation.....who deal with sickness and death every day of their lives.
And you are going to tell me that these people also choose their jobs. Yes, and you would be right, but who do you think has the sharp end of the stick?
It certainly isn't those bonus raddled bankers( this excludes those who deal with us at the counters of the banks - they are just minions and are not in the same category).
So forgive me if my sympathy for these men is a bit scant, in this life you reap what you sow!

I respect your opinion Margret.
Yes i would tell you the folk you mentioned choose their jobs,But (again) you have a good point

[Margaret Pilkington]

Thank you for that....it is appreciated.
On another note....suicide is a mental health issue. Should people who have a mental health issue be in charge of dealing with the huge responsibility of national and international finance?

Speaking as one who has had a close family member commit suicide, the person concerned has a choice....they do not have to take this route. There are other avenues open to them(and this is being said with great respect)....they just cannot see their options.
It is left for family members to deal with, once the person has ended their life.....this is very difficult to do...it prevents grieving and it overshadows everything in life from that point on.

You constantly ask yourself if you should have spotted changes in the person you knew.....if you could have done anything to change events....it leaves you, the family with a great sense of guilt, as well as the loss.
So, it is the families of these men who have my regards, and my sympathy....they are the ones who are brave.

[Accyexplorer]

Originally Posted by Margaret Pilkington

Thank you for that....it is appreciated.
On another note....suicide is a mental health issue. Should people who have a mental health issue be in charge of dealing with the huge responsibility of national and international finance?

Speaking as one who has had a close family member commit suicide, the person concerned has a choice....they do not have to take this route. There are other avenues open to them(and this is being said with great respect)....they just cannot see their options.
It is left for family members to deal with, once the person has ended their life.....this is very difficult to do...it prevents grieving and it overshadows everything in life from that point on.

You constantly ask yourself if you should have spotted changes in the person you knew.....if you could have done anything to change events....it leaves you, the family with a great sense of guilt, as well as the loss.
So, it is the families of these men who have my regards, and my sympathy....they are the ones who are brave.

Another good point Margaret.
Thousands of men, women, children, and teens are affected by suicidal thoughts.
With a listening ear, a shoulder to lean on, and access to the right resources, these deaths can sometimes (not always) be prevented.
British men are allegedly 3times as likely to die by suicide than British women
Suicide doesn't always have to be the answer when something as simple as "Are you okay?" is the question.
Right or wrong its sad that these men thought this was the only option left open.

[maxthecollie]

Where can I bank my £500,000,000 lottery win so I can withdraw large amounts?