Lodgement Threshold laws ?

  • Thread starter GenghisPrat
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GenghisPrat

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Hi all,

New to this board. Quick question, after pillaging a few villages I've a large hoard of booty to lodge. Just wondering, isn't there a minimum threshold now, say 5k or so, that once exceeded when you're making a lodgement, means that the blighters in the bank are obliged to report ye to the king's men in city hall ? Me and mah steed like to be free to do what we wanna do, down with big brother and all that.

Cheers,
Genghis P.
 
Yeah - €13,000

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Nice one. Thank you kindly. Now to round me up some wives - to the pub !
 
The above only relates to the issue of money laundering and establishing your identity.

Maybe your question, GenghisPrat, relates to the Revenue Commissioners as well?
 
I'm not sure what you mean. All I've actually done is sell my car, and I just want to lodge the cheque so there's nothing dodgy going on. It's going in anyway, but I'm just curious about whether it'll get reported as I seem to recall a news item about it some time ago.
 
Hi Genghis - You've nothing to worry about (unless of course that car was used in the course of pillaging the Mongol hordes). Revenue have bigger fish to fry. If your bank do ask questions, then a simple explanation will suffice. If the bank do report the transaction to Revenue, worst case scenario is that you give them a simple explanation.
 
cheque lodgment

If you are lodging a cheque the transaction is transparent and your bank is unlikely to deem it suspicious unless it is so large as to be totally out of character for the account.

It is a different matter if making a large cash lodgement, they may ask questions but even still there is no definitive legal reporting threshold (unlike in the US), it depends on whether you can satisfy them as to the explanation.
 
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