Transfer of large sum

[riccardob]

Hi,

If one receives a large transfer of money, say 700k, after inheriting money from abroad, do the banks have to carry out enquiries before the money is released?

Is there any way of avoiding hassle such as a temporary freeze of a bank account?

thanks

[tax_schmax]

It would be your money, so there should be no hold up. Banks only tend to make enquiries if funds come from a high risk location. Banks will be interested from their own desire to invest the lump sum, but that is normally all.

[taxguru]

The only thing the banks may be interested in is money laundering. So long as that is not the case there shouldn't be any restriction on your operating your bank account