So basically, I'm in a place where I can be making £1400 within 1-2 weeks, problem is that I need to also place at least half of that back into my bank account to then buy more product. I know one of the bank tellers at my local bank so never had a problem with that but today I went to deposit £900 and the teller asked a few questions (she's the nosey one around town).
Was just curious as to what red flags depositing say £700+ every week or two would do? - I'm in full time employment but still quite young. I know it's pretty small change compared to most people around here but it's still an important question that I could do with some advice on.
I know in the USA if you deposit so much or look like you are stacking deposits to get below a alerted minimum which I think is $10,000. Is there anything like this for UK Banking? I'm sure there would be.
Thank you.
Stop buying your coins via bank transfer and purchase them using 'Cash deposit'. (FOR LBC anyway:) It's the same as you putting money into your account, just ask the teller to put the £ into the BTC-vendors account and finish the purchase on your phone.
I believe its either £10k or £12k for the UK maximum before you have to declare where your income is from.
As for bank tellers, they see people deposit a lot more money so don't worry about that. They have to ask questions sometimes but you aren't obligated to tell them anything... Bank teller will normally only ask you if the money you're depositing is for your account or someone elses. Just go into another branch of your bank if you're paranoid about a specific teller.
GL