Cash Purchase

[JP_]

Nobody has that amount of money sitting around as actual cash, much more likely they are saying they have it sat in a bank somewhere. People do have such amounts in the bank.

Says who? My dad was an accountant for a car dealers years ago, one of his clients had 50k in a suitcase. And that was cash from car sales, not illegal activity. Plenty of people have cash they don't want to declare, and all of them are looking for ways to place it in the system.

 

[JP_]

Thanks to Djangobanjo for their sensible suggestion

Finally, all those years working in global custody and security services has been useful.

 

[motorbiking]

If someone accepts a large cash offer to buy a product eg £150k ie a boat. What is the best means of checking the funds are 'clean' before it is transferred?

Suggests we are not looking at a sports bag full of 50s, but a person who does not need a marine loan/mortgage to purchase the boat. Its usual for the finance company to register the interest.

anyway a source of wealth declaration is fine along with the checks the bank do when processing the CHAPS payment.

I’ve bought houses and boats like this.