You have just broken the SGT Hyperbole Meter
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You have just broken the SGT Hyperbole Meter
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Maxwell (September 1st, 2018)
One or two ideas for me to think about, so thanks for that.
However it has occurred to me that there might be a limit on the amount of money that my lawyer can send abroad? Similar to the £10K that I can take on holiday.
Anyone know of such a limit being sent from the UK?
And would it be apply a bank transfer as some have suggested?
There are reporting limits - £10K sounds about right - but they are there to pinpoint money-laundering. There is no effective limit on transferring amounts for individuals as far as I am aware, as this article sets out. I understand "the £10K that I can take on holiday" is a notional limit that's there for reporting for money-laundering. You can take as much as you like when you go on holiday; if it's over £10K then you must report it
However, asking your bank manager is probably a better idea than asking an anonymous bunch of ageing sodomites
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Are you SURE ? have you BEEN in your / any bank lately ? Have you actually managed to actually FIND a bank manager and if so one that has ANY idea what actually goes on out there in the banking world anymore, unfortunately now it seems the the local manager in most banks has been reduced to something more akin to an office manager / HR overseer rather than a knowledgeable banking professional, who like in the old days could actually talk to you and make decisions about extending credit and such like.
Now days it appears that their role is more to fill in and complete the banks pre-supplied pro forma form to be returned by them to the banks "credit committee" for just about any decision over say a £500 overdraft allocation - and perhaps not even THAT in the likes of Santander Bank here in the UK sometimes that now is them literally typing in your details and their " computer says no" ( or just sometimes yes) moment with damn all they can do about it !
This actually happened me not so long ago where I was in Santander opening a new account, whilst depositing a large sum ( well over 6 noughts) amount that ( unfortunately) was just resting / passing through my account and he automatically hit the button for their standard 500 overdraft facility ( that I hadn't even asked for) and "the computer said no" - and there was damn all he could do about it, it was that ridiculous we both just laughed and moved on - the reason his computer gave was it was a "new account" so they couldn't / wouldn't risk me defaulting on the £500 quid - I did then assure him IF I was intending to default I would make SURE that it would be on a MUCH higher figure than £500 quid ! :-)
As has been said above there is of course no limit on moving / carrying funds, it's just the requirement to disclose / report that's there. Also if for whatever you might choose NOT to disclose your solicitor could of course be advised to send a few £7500 payments over a few days / weeks until he reached the required amount.
paborn (September 1st, 2018)
Talking of old time bank managers I recall many years ago when I had just started a new job and the company bank manager invited me to visit his office for a chat followed by lunch. I duly arrived at 11.30 am and was immediately whisked off to a local hotel and as soon as he walked into the bar a large whisky was poured for him. Being a friendly sort of chap I said I would have the same . After 3 of these he could lift his drink with only one hand and as 2.00pm approached I enquired if lunch could be taken, We had lunch but I was the only one to eat anything. Sadly he was retired early shortly after.
frequent (September 1st, 2018)
paborn (September 1st, 2018)
Nirish, your story reminds me of Matt's long discussion of "telex" and Laos. His "bank call center" did not know what it was/is - well, can you expect them to? A "banker" who has never heard of a WIRE TRANSFER ( which, in banking, is what the system was used for ) is not much of a banker. But, then that's your , very well taken, point.