Finance - Transfer of money

[iceman010899]

Hello,

I have transferred about £1300 over 3 months from by savings accounts to current account about 3 times. I did this to show all the money I had in UK in one account.

This shows in the bank statement. Will this be a problem ? I have written in a letter stating the transfers.

I know you shouldnt drop lump sums at one go. But this is my money I had in a seperate account.

Thank you.

[batleykhan]

Why transfer lump sums from one account to another?.

Why not simply provide statements from both accounts?

Alway lookks dodgy when you try and put lump sums in an account just before applying. Most of time application is refused

[hamster88]

Most of time application is refused

is this really true ??

i transferred 20k from my online savings account to my current account because before my bank could not print statements for this account, but now i found out they can ?? can they really refuse me for transferring 20k from my savings account to my current account ??

[batleykhan]

Most of time application is refused

is this really true ??

i transferred 20k from my online savings account to my current account because before my bank could not print statements for this account, but now i found out they can ?? can they really refuse me for transferring 20k from my savings account to my current account ??

Any lump sum that goes into an account just before lodging an application (even though it may be genuine) is looked upon suspiciously.

What is the purpose of you tranfering it from your saving account to a current account, when it would have just been easier if you provided a statement of the saving account?. I cant understand teh reason for people doing this !!!!!!!

[hamster88]

before it wasnt possible to get statements for my online bonus saver account. so i wanted to show my funds but i will hopefully have statements for this savings account as only recently found out they can do statements for a special request or sommat.

[batleykhan]

before it wasnt possible to get statements for my online bonus saver account. so i wanted to show my funds but i will hopefully have statements for this savings account as only recently found out they can do statements for a special request or sommat.

Your bank will always put it in writting to you whether in the form of statements or a letter to say how much money you had in any specific account on the day you request that information. That would suffice.

[hamster88]

a few months i called up my bank when trying to buy a house and they call centre said they could not produce any letter or statememt, I also asked the staff at teh branch.

[hamster88]

when people got refused, was it because they couldnt prove it came from their savings account ??

[batleykhan]

Thats right. You need to be able to prove where it came from. Simply saying it was from my other accounts etc without providing evidence of it, some time does not wash with teh ECO when he sees a large sum deposited just before an application is lodged