Nemo wrote:Before I retired last year I was a partner in a firm of Chartered Accountants and was in charge of money laundering policy wthin that partnership. For the previous three years or so, we were bombarded with amendments to money laundering by The Institute of Chartered Accountants, who in turn were being pressured by the National Crime Agency. They were raising the bar all the time and it looks like some institutions are paranoid about the sightest risk or dissent. Last year I opened another current account just in case I upset the bank that I had been with for years.
You have been warned!
I recently wanted to deposit some cash into my son's bank account. I had done this successfully a few times before, but not in the last few years. I was told I could not do that because of AML rules and instead had to do a transfer, or else write a cheque.
I did not think too much about it at the time but maybe even the act of trying to deposit cash into somebody else's account could be deemed suspect.
As it happens I have current accounts with two banks and had been thinking of closing the one I use less. Now I think I may keep both of them, just in case.