Drug money saved banks in global crisis, claims UN advisor

**Paddy** · 13 December 2009, 08:57

... and when I wanted to pay £170 in cash to Barclays; I had to proove it was not money laundering!

**AtW** · 13 December 2009, 10:17

Originally posted by Paddy View Post

... and when I wanted to pay £170 in cash to Barclays; I had to proove it was not money laundering!

I remember I opened my first bank account in this country in 1994 with just £1 - got cash card, paperwork etc - have not used account for a few years and only later when I came back to UK I started using it and stayed with the same bank for now 15 years.

Tried to do same thing for my sister few years ago - could not because of money laundering laws, ffs - it's not like she was depositing huge amount of money, literally a few quid like I did, but no.

This does not seem to prevent football clubs being baught by foreigners - no questions asked policy it seems

**HairyArsedBloke** · 13 December 2009, 10:28

You think it's bad here - try opening a bank account in one of these so-called money laundering tax havens!

Contrary to popular belief, you can't turn up with a suitcase of money and expect them to say, "Ah! Good morning Mr HAB. We'll open an account for you straight away. Would you like to spend some time with my daughter while you wait, or would you prefer my nephew?"

I had to go through all sorts of hell getting references from my banks in the UK and showing documents covering the source of funds. It was when they were getting over excited with the 'know your customer' regs combined with the local morons that they are obliged to employ. It was hell I tell you.

**AtW** · 13 December 2009, 10:30

Contrary to popular belief, you can't turn up with a suitcase of money and expect them to say, "Ah! Good morning Mr HAB. We'll open an account for you straight away. Would you like to spend some time with my daughter while you wait, or would you prefer my nephew?"

You right you can't just turn up with cash anymore. You have to book an appointment...

**RichardCranium** · 13 December 2009, 10:36

Originally posted by AtW View Post

Tried to do same thing for my sister few years ago - could not because of money laundering laws, ffs - it's not like she was depositing huge amount of money, literally a few quid like I did, but no.

When we had to open new accounts a few years ago (NatWest: c**ts), we could not put together sufficient documentation to prove to the banks that my wife existed.

The problem was mainly caused by having the utility bills in my name and chasing gigs round the country so we had lots of addresses and her having no open bank account.

She didn't have an account at all for a couple of years until they relaxed the rules. She could then open an account under her "trading as" name (she is a sole trader) and once that had been operating a while, used that to create a personal account.

**HairyArsedBloke** · 13 December 2009, 10:43

Talking about money laundering ....... it's time for my weekly bath.

**AtW** · 13 December 2009, 10:46

Originally posted by RichardCranium View Post

The problem was mainly caused by having the utility bills in my name and chasing gigs round the country so we had lots of addresses and her having no open bank account.

Why they insist on those utility bills as if they are some kind of magic watermarked police checked paperwork? It's trivial to fake them and if no first name is put on bill then for two persons with first initials and last name same bill can be reused, what's the bloody point? It does not seem to affect fraudsters in anyway.

I can understand when bank would not want to offer credit cards, loans to person who maybe deemed high risk (foreigner), however current account with 0 overdraft and maybe monthly fee for it seems obvious solution. I offered to vouch for her - put my money and reputation on the line but that wasn't possible, wtf?

**RichardCranium** · 13 December 2009, 11:06

Originally posted by AtW View Post

I offered to vouch for her - put my money and reputation on the line but that wasn't possible, wtf?

When I was at college one of the Turkish students told us his family's story about this.

His uncle came over here in the 50s, walked into HighStreet Bank (I forget which, but all 4 were as bad as each other anyway) and opened an account and set up a business. 20 years later he still has that same account.

Student's dad (brother of the above) brings his family over. Student's big sister wants a bank account and gives the uncle as a guarantor. The bank write back to say "He is not acceptable as a guarantor".

The uncle takes this letter into his local branch and says "I understand I am not good enough for you, so I want to close my account now". Cashier has to fetch the manager. The manager begs him to change his mind and the uncle says "I want all my money now, in cash, and I'm not leaving until I get it".

They had to get a delivery from another bank. It was a HUGE amount of money (I thought so at the time) like £30,000. This was in the late 1970s.

**AtW** · 13 December 2009, 11:11

I am planning to close my account with my current bank at appropriate junction in near future - I'll write to their directors however and will make sure the story is publisied. The main challenge is to get enough money in the bank for them to care...

Drug money saved banks in global crisis, claims UN advisor