Cash is doomed anyway. In the shop cash takings have gone way down and most people pay contactless, even for sales less than £1 I’ve had people wanting to pay by card.
Having previously worked for banks and "UK wide law enforcement" organisations I've had a fair bit of training on this. Basically any amount can be "reported" if the organisation employee is suspicious, but anything over a grand will start to raise interest. It is an offense not to report suspicions and also to warn someone that you will report them. Staff get told to report everything and CYA. The agencies being reported to get a bit overloaded and have to get creative with sorting the wheat from the chaff.
The banks take it pretty seriously. My job was IT for sending out junk mail but I still had to pass the mandatory money laundering training on my first morning, before I was allowed to do anything else.
So, pay in £4K and you might find the bank staff have a social chat about what the money is from, just freindly like. They might report you, but unless you are doing it often or have "markers" on you then it won't amount to anything. Middle aged bloke paying in £4K from a single "car sale" is pretty common, but a 17 year old youf paying in £4K weekly for a "car sale" isn't.
No way I would cash in change, we always need it and it costs me 1.60 per hundred to get it from the bank and if I pay any cash in they charge me too.I throw all the loose shrapnel, coppers, 5ps, 20ps etc into a big tub, when it gets full bag it all up and take it to pay in the bank, takes months to fill, longer sometimes. Last time I went in they said they won't take more than 10 bags of change so for coppers there's a quid in each one, 5 and 20p a fiver so small amounts still, these are the sorted out little plastic money bags. They did it for me that time as a one off but in future they won't.
Cash will be gone within the decade, maybe sooner.
do the machines report you or flag it ? my bank is almost all machines now
making myself sound suspect now lol , hopefully spent it soon
same here so I just offload to others what I can I prefer getting paid of jobs with a bank transfer its instant and no fannying on with cash or cheques. people say is it cheaper for cash .no I have a set business rate and that's it they get a bill . the banks are sharksNo way I would cash in change, we always need it and it costs me 1.60 per hundred to get it from the bank and if I pay any cash in they charge me too.
I use Contactless on my phone for everything, haven't taken cash out with me for years and can't even remember the PIN on one of my cards it's been so long.Cash is doomed anyway. In the shop cash takings have gone way down and most people pay contactless, even for sales less than £1 I’ve had people wanting to pay by card.
A lot of people do this. The problem for me as a retailer is the transaction charges on a £1 transaction take a chunk of the profit so I may as well give the stuff away. I still do it in the hope the customer comes back and spends a bit more.I use Contactless on my phone for everything, haven't taken cash out with me for years and can't even remember the PIN on one of my cards it's been so long.
I used to charge 50p to use a card for transactions under £5 but they changed the law so this wasn’t allowed. The payment companies write into the contract that you cannot refuse a transaction because of the amount. Even paying money into the bank you are charged. The banks have business over every way. As said they are sharks.
£20 notes were changed 10 years ago, so if you've had them stashed away for longer than that people might ask where they've come from.
I changed a few over at the time for the newer ones.
wat is it half a percent and when you want to borrow its sky highso did i now got to change them again what's left not worth putting them in the bank not enough interest on the small amount left
wat is it half a percent and when you want to borrow its sky high
.15% with the TSB, that's point one five percent in case anybody thinks it's 15% (which our mortgage hit in the giddy days of John Major and Norman Lamont) and then our endowment linked mortgage came up about £7k short. Ah 40 years of neoliberal Thatcherism. End of mini rant.
As said they are sharks.
I'm sure some other country in the world has done a similar thing recently; they took all large-denomination notes out of circulation altogether, meaning that you had to put yours where they could be seen. Was it Malta?
My dad moved house a few years go and found about fifteen hundred quid in old twenties in a tin behind a fitted wardrobe. He didn't have any problem getting it swapped/cashed in at a bank.£20 notes were changed 10 years ago, so if you've had them stashed away for longer than that people might ask where they've come from.
I changed a few over at the time for the newer ones.