Is that money legit?

[scottnsilky]

In the next week or so, I will be making quite a large purchase, what I will need to do is sell about £40,000 worth of investments held by HL, and transfer the money into my bank account. Will this cause any raised eyebrows, vis a vis money laundering or other nefarious activities?

I think I remember a threshold of £9000 below which no investigations are thought necessary, or maybe I dreamed that?

Am I being over-cautious?

Thanks for any insight.

[AleisterCrowley]

You could ask your bank? They may appreciate the advance warning

[stevensfo]

In the next week or so, I will be making quite a large purchase, what I will need to do is sell about £40,000 worth of investments held by HL, and transfer the money into my bank account. Will this cause any raised eyebrows, vis a vis money laundering or other nefarious activities?

I think I remember a threshold of £9000 below which no investigations are thought necessary, or maybe I dreamed that?

Am I being over-cautious?

Thanks for any insight.

Isn't the £9000 threshold the amount of cash you can withdraw or pay in without giving a reason?

Large amounts of money are being transferred all the time for car and house purchases. If it's being transferred from another financial institution - i.e. HL - then surely there shouldn't be a problem.

Steve

[pje16]

you can send quite a chuck far more than 40,000
https://www.fasterpayments.org.uk/how-much-can-i-send-0

[scottnsilky]

Thanks for you replies, I log on to the internet bank every Saturday, just to check all is well, so I sent them a message to ask if its going to cause a problem. I've also found a Freephone number to call, I'll do that on Monday.

As has already been said, that amount of money must be transferred lots of times every day.

Thanks again.