The Anonymous Widower

Bank Transfer Problems

Last week, I wanted to transfer sixty thousand from the sale of my house in Suffolk, from my bank account to a respected stockbrokers, who were going to invest the money for me in a safe investment until I need it to perhaps do my new house up.

I thought it would be best to transfer ten grand to see that the system worked. It didn’t, so it was returned! Apparently, my bank tried to send it through Faster Payments and the bank at the other end couldn’t accept that sum immediately and returned it. Speaking to my stockbroker, he said this happened a lot. Is this down to money laundering regulations, which question all large transfers?

It turned out the maximum sum, that I could transfer must be less than ten thousand.

So I transferred £9921.00, by following my rules, as it was the twenty-first when I did it. It went through without trouble.

Then I transferred £9921.01, £9921.02, £9921.03, £9921.04, £9921.05 and £473.85, to complete the sixty thousand.

What a farce!

What got me, when I tried to transfer the £60,000 in the first place, was that my on-line banking site, stopped me, but didn’t tell me how I was to do it. I suppose, that I had to phone up or go into a branch.  But then I bank on-line!

I suppose they want me to keep the money in my Current Account or so-called Saving Account, which pays a similar interest to a mattress!

No wonder everybody gets annoyed with bankers! But in this case, I assume that it’s the money laundering regulations, which are very easy to circumvent if you’re a drug dealer, but just make it difficult for the rest of us!

September 22, 2012 - Posted by | Finance |

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