deposit in cash over the counter not allowed in HSBC

That is fair enough, why question it?
Anti money laundering and tax evasion precautions I would imagine.

redmik wrote:

That is fair enough, why question it?
Anti money laundering and tax evasion precautions I would imagine.

i would have thought it to be normal too - not sure what the figures are for cash over the counter but e-transactions are usually limited to 10000euros per day...but a friend of mine was once told not to transfer more than 5000euros in one go as they get reported for tax reasons - how true this is i dont know.... probablty worth a question at the banks involved.....

it may be deemed suspicious activity if a stranger to the bank tries to deposit large sums of cash.... its more likely to be accepted by known customers....

never had that problem to be fair....LOL

Thanks a lot for sharing your view regarding this matter.

I also agree with both of you that anti money laundering and tax evasion precautions had a lot to do with the odd situation my friend experienced.

Yesterday I contacted HSBC call center and they confirmed there is no minimum or maximum amount for cash deposits over the counter. However, the bank reserves the right to ask for the origin of the funds if they consider it necessary.

Today morning my friend went to a different branch and he made the cash deposit with no trouble at all.

Have a nice weekend!