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Bankers I need consultation
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enyands
#1 Posted : Wednesday, January 11, 2017 9:37:12 AM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?
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2012
#2 Posted : Wednesday, January 11, 2017 9:43:16 AM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Surely, that cannot be true.
Who is she to give the evidence to and how?
Is M-Pesa also subject to the same? If this happens, we will go back to the donkey years of cash only transactions.

BBI will solve it :)
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Swenani
#3 Posted : Wednesday, January 11, 2017 10:04:15 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
enyands wrote:
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?

100K

That only applies to deposit or withdrawals of over Kshs 1 million
If Obiero did it, Who Am I?
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ZZE123
#4 Posted : Wednesday, January 11, 2017 10:07:58 AM
Rank: Elder

Joined: 6/21/2008
Posts: 2,490
Swenani wrote:
enyands wrote:
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?

100K

That only applies to deposit or withdrawals of over Kshs 1 million

And specifically cash
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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radio
#5 Posted : Thursday, January 12, 2017 1:22:57 AM
Rank: Veteran

Joined: 11/9/2009
Posts: 2,003
Mpesa your mother the cash and save her lots of unnecessary stress of going to stupid banks.
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sparkly
#6 Posted : Thursday, January 12, 2017 7:40:25 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
enyands wrote:
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?


100k is loose change.
Life is short. Live passionately.
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hardwood
#7 Posted : Thursday, January 12, 2017 8:20:08 AM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
enyands wrote:
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?


False. No one will ask any question. You can even deposit 999,999.
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Obi 1 Kanobi
#8 Posted : Thursday, January 12, 2017 8:57:45 AM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
For cheques they will not ask the source of funds, but cash nowadays they ask for source even for amounts below a million depending on your account activity.

Banks are now overcautious
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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kaka2za
#9 Posted : Thursday, January 12, 2017 9:49:13 AM
Rank: Elder

Joined: 10/3/2008
Posts: 4,058
Location: Gwitu
They might ask if your account usually deals with amounts of between Ksh 100-1000.
Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Cornelius Vanderbilt
#10 Posted : Thursday, January 12, 2017 9:53:46 AM
Rank: Member

Joined: 8/15/2015
Posts: 817
sparkly wrote:
enyands wrote:
Dear wazuans i want to deposit my cheque of 100k from coop bank into my mother's account in Barclay's bank to finish a building project.

I'm meant to understand that when the cheque matures they won't pay her unless she gives evidence of where the money is coming from and what the money is going to do. Is this true ? And how can I go around it?


100k is loose change.


haiya! please come back to kenya! lol
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