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Lodging large cheque

  • 22-04-2012 1:08pm
    #1
    blackraspberry
    Closed Accounts Posts: 35 ✭


    I have inherited a sum of money and will be lodging a cheque for a significant amount into my current account next week, before it gets moved to savings accounts and so on. Do I need to tell my bank in advance, or explain it or anything? I'm worried about arriving up to the cashier with the cheque and there being some kind of fuss. Thanks.


Comments

  • #2
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,327 CMod ✭✭✭✭spurious


    Shouldn't be any fuss, but if you like, you could just ask at the customer service desk to see someone in an office and they could do the lodgement there, away from prying eyes.


  • #3
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    You will probably be asked about the source of the money. They are legally obliged to ask you this if its over certain amount based on anti money laundering laws. I think the threshold is €10k which may be one transaction or a number of transactions up to this amount. just let them know it is inheritance. You have nothing to hide about that as long as tax has been paid on it as is required.


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