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Depositing Cash To A Bank?

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I just noticed a sign in one of the banks here saying you can only deposit up to a maximum of 3000 euros in cash. I haven't seen that before so I'm wondering whether it is a clamp down on the cash economy just in Spain or worldwide?

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I can't find anything in my Lloyds TSB terma and conditions about a limit on cash deposits at my bank but over a certain amount, I believe, it triggers only a question on it's source in the bank, but a 'flag' at the tax offices.

You can't use more than £10k in cash with most brokers when buying currency, but that's a money-laundering regulation, not a company rule.

A maximum €3000 deposit isn't a lot but it may be that they don't have a very big safe or they've been robbed recently? Of course, in a recession, the bank may be aware of too much 'funny money' coming in.

Edited by deflation

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A maximum €3000 deposit isn't a lot but it may be that they don't have a very big safe or they've been robbed recently? Of course, in a recession, the bank may be aware of too much 'funny money' coming in.

The bank in question was BBVA, the second biggest here, but it could be something to do with the new tax regulations which came in in August.

http://www.costa-news.com/index.php?option...37&Itemid=1

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I just noticed a sign in one of the banks here saying you can only deposit up to a maximum of 3000 euros in cash. I haven't seen that before so I'm wondering whether it is a clamp down on the cash economy just in Spain or worldwide?

There are no limits in the UK or the US that I've ever noticed. I think I heard there may be some limits on how much you can put into one of those drop-box things, but I would guess that's a space issue rather than anything else.

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It's because if you have more than a few grand in cash you're obviously a tax-avoiding terrorist. Unless you're in Switzerland where obviously everyone is a tax avoiding terrorist so you won't arouse suspicion.

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How about problems payin in cheques into my LL account. I closed 2 ISAs at C&G cos they paid 0.5% Tax free, they wrote me 2 cheques tottaling about 4K. Went down High St to Lloyds and tried to pay them in. Well, the cashier asked me to wait, waved the cheques and said in front of everybody.. someone is coming to see you. Minutes later i was in front of the bank manager on my knees explaining where the cheques came from. In the end he relented and accepted them then tried to sell me some insurance... " well you know, identity theft bla bla, you cant be too carefull, system is not foolproof".

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I just noticed a sign in one of the banks here saying you can only deposit up to a maximum of 3000 euros in cash. I haven't seen that before so I'm wondering whether it is a clamp down on the cash economy just in Spain or worldwide?

Smells of anti-money-laundering: carrying thousands of euros cash around seems suspicious! Some UK banks make it a huge ordeal just to open an account in the first place.

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There are no limits in the UK or the US that I've ever noticed. I think I heard there may be some limits on how much you can put into one of those drop-box things, but I would guess that's a space issue rather than anything else.

And whose banks have been failing and getting bailouts?

But I wouldn't be surprised if a [anywhere] bank raised an eyebrow at that kind of cash amount.

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http://www.costa-news.com/index.php?option...37&Itemid=1

"All banks will be obliged to present annual reports for every account holder detailing the movement of funds from personal loans exceeding 6,000 euros and cash deposits and withdrawals exceeding 3,000 euros per transaction."

They don't want to do the paperwork it seems, so refuse deposits over €3k.

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Guest DissipatedYouthIsValuable
I paid in £18000 in £20 notes to Nationwide last year. No problem at all.

Were you wearing spats?

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I paid in £18000 in £20 notes to Nationwide last year. No problem at all.

pd2389740.jpg

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Guest DissipatedYouthIsValuable
hey DYIV,

you got some pm's ? serious question btw.

No.

I'm not really worth anything yet, which apparently makes me quite wealthy these days.

I've got a palladium ring which might buy me dinner one day, although there's no hallmarking system as yet.

If you know an assaying restaurateur I'd be quite grateful.

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