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Transferring cash

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By *partharmony OP   Couple
over a year ago

Ruislip

I'm after some ideas from you clever lot. I have some cash (a little over £1,000) which I need to get to somebody in the Channel Islands. It's not my money so I don't want to pay it into my account to transfer it electronically as it could look like I have earned it and should pay tax on it, which is not the case.

What would be your recommended way of doing it? I can see a couple of options on the Internet such as through Moneygram or Western Union. I'm just wondering if any of you have had to do something similar and have a method that works for you.

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By *hilloutMan
over a year ago

All over the place! Northwesr, , Southwest

Transferwise perhaps?

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By (user no longer on site)
over a year ago

Western union is a good option, I used to work for travelex at the airport and quite a few people would use it for those reasons. Just find a local branch and take ID x

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By (user no longer on site)
over a year ago

Posting it isn’t crazy if secure, or transferring it online if you have justification in terms of tax / fair reason it isn’t your money etc. Both have worked before for myself anyway.

Or the companies suggested so far could work. Even PayPal if you do use an account but don’t wish for it to be transferred traditionally.

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By (user no longer on site)
over a year ago

I am flying to Channel Islands. You can trust me . Would hand deliver them personally. I would not say to anyone and you will never know who I am

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By (user no longer on site)
over a year ago

Pay TransferWise with your credit card with some extra charge and then pay the credit card bill with that cash through deposit in a bank

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By (user no longer on site)
over a year ago

On the assumption of course this is all legal and above board...

You could buy a prepaid debit card with the £1k and send that by recorded delivery.

But if it's not your cash, and your dong this "for a friend" then give them the cash back and let them sort it.

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By *rHotNottsMan
over a year ago

Dubai & Nottingham

WU are subject to exactly the same controls as banks re money laundering and full disclosure so unless your using fake ID it’s cheaper and safer to use BACS

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By *siancouplehantsCouple
over a year ago

K-PAX


"I'm after some ideas from you clever lot. I have some cash (a little over £1,000) which I need to get to somebody in the Channel Islands. It's not my money so I don't want to pay it into my account to transfer it electronically as it could look like I have earned it and should pay tax on it, which is not the case.

What would be your recommended way of doing it? I can see a couple of options on the Internet such as through Moneygram or Western Union. I'm just wondering if any of you have had to do something similar and have a method that works for you. "

You could use a old fashioned postal order from the past office but the limit is £250 so you may have to purchase 4 of them

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By *ebel Red HotWoman
over a year ago

York

Easiest way is to send via paypal as friends and then spend the cash instead of using your card or put into your account in small amounts. Ok it relies on you having 1000 in your account but it will raise the least issues.

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By *sGivesWoodWoman
over a year ago

ST. AUSTELL, CORNWALL

Why can't the person who it belongs to transfer it themselves? Sorry OP, this sounds a bit dodgy to me. However, a pre-paid card may be your answer.

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By (user no longer on site)
over a year ago


"WU are subject to exactly the same controls as banks re money laundering and full disclosure so unless your using fake ID it’s cheaper and safer to use BACS"

Yes they are but would only report it if they were suspicious.

I used to do this daily for a job.

If they walked in with it in cash and transferred it to a friend abroad, nothing would be done about it

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By *allySlinkyWoman
over a year ago

Leeds

OP how have you got £1000 cash "after some clever ideas" if you haven't earned it ? Are you willing to share your secret ?

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By *rHotNottsMan
over a year ago

Dubai & Nottingham

Go out and buy something small and tech for £1000 like the latest iPhone , list it on Facebook for 20 x £50 numbers, there’s some debate about the optimum number and value of numbers as it depends on your friends income. As the numbers sell give them your friends bank details. It might work....

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By *partharmony OP   Couple
over a year ago

Ruislip


"Western union is a good option, I used to work for travelex at the airport and quite a few people would use it for those reasons. Just find a local branch and take ID x"

Thanks for the tip, Ivy. It looks like a good choice.

Thanks for your suggestions everybody. There were some odd ones in there!

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By (user no longer on site)
over a year ago

You needn't worry about being taxed for cash that is going through you account.

Ensure you know exactly where this cash has come from with a paper trail that PROVES it came to you via legitimate means. VERY IMPORTANT to establish this.

Put the cash into your account and transfer as per a normal bank transfer.

Keep a record of the transfer.

If HMRC come knocking, show them these documents as proof the money passed though and not INTO your expenses.

Keep this record for SEVEN YEARS.

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By (user no longer on site)
over a year ago

My advice comes from experience of regular funds transfers from abroad, etc. I am ex-banker.

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By (user no longer on site)
over a year ago

All right, it's investment banking and not high street banking but the rules regarding taxes are not unfamiliar to me.

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By (user no longer on site)
over a year ago

I hope that helps but once again, I would like to stress that you MUST have proof that the money you are depositing into your account is LEGITIMATE (wage slips, that sort of thing) and it GOING to a legitimate account.

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By (user no longer on site)
over a year ago


"Go out and buy something small and tech for £1000 like the latest iPhone , list it on Facebook for 20 x £50 numbers, there’s some debate about the optimum number and value of numbers as it depends on your friends income. As the numbers sell give them your friends bank details. It might work...."

Alot of effort when you can just use western union

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By (user no longer on site)
over a year ago


"Go out and buy something small and tech for £1000 like the latest iPhone , list it on Facebook for 20 x £50 numbers, there’s some debate about the optimum number and value of numbers as it depends on your friends income. As the numbers sell give them your friends bank details. It might work....

Alot of effort when you can just use western union "

Does seem so, doesn't it?

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