Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Sunday, Aug 20, 2017
Market
To contribute to these and use other features, please register.
LATEST DISCUSSIONS
PesaLink [57]
KODI [283]
Farm Fencing [80]
VW Toureg [47]
Modification of the Back seats of a probox [12]
Car hire in Nairobi [13]
need a lawyer -corporate [5]
Business debt sought [3]
Home Theatre system [75]
Car ignition issue diagnosis [18]
2010 Mitsubishi RVR [18]
Legendary 'All Blacks Matatu' for Sale!! [2]
Building village home ,Wazua nishikeni mkono pleas... [28]
Looking for a laptop [5]
WiFi Routers [6]
 
Forum Jump








Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
Bankers I need consultation
enyands
#1 Posted : Wednesday, January 11, 2017 9:37:12 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,233
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?
2012
#2 Posted : Wednesday, January 11, 2017 9:43:16 AM
Rank: Elder


Joined: 12/9/2009
Posts: 4,957
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.

No matter how dirty your past is, your future is still spotless.
Swenani
#3 Posted : Wednesday, January 11, 2017 10:04:15 AM
Rank: User


Joined: 8/15/2013
Posts: 11,471
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 you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
ZZE123
#4 Posted : Wednesday, January 11, 2017 10:07:58 AM
Rank: Elder


Joined: 6/21/2008
Posts: 2,332
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
radio
#5 Posted : Thursday, January 12, 2017 1:22:57 AM
Rank: Veteran


Joined: 11/9/2009
Posts: 1,919
Mpesa your mother the cash and save her lots of unnecessary stress of going to stupid banks.
sparkly
#6 Posted : Thursday, January 12, 2017 7:40:25 AM
Rank: Elder


Joined: 9/23/2009
Posts: 5,465
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.
hardwood
#7 Posted : Thursday, January 12, 2017 8:20:08 AM
Rank: Elder


Joined: 7/28/2015
Posts: 4,463
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.
Obi 1 Kanobi
#8 Posted : Thursday, January 12, 2017 8:57:45 AM
Rank: Elder


Joined: 7/23/2008
Posts: 2,868
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
kaka2za
#9 Posted : Thursday, January 12, 2017 9:49:13 AM
Rank: Elder


Joined: 10/3/2008
Posts: 2,689
Location: Gwitu
They might ask if your account usually deals with amounts of between Ksh 100-1000.
Cornelius Vanderbilt
#10 Posted : Thursday, January 12, 2017 9:53:46 AM
Rank: Member


Joined: 8/15/2015
Posts: 726
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
Angelica _ann
#11 Posted : Thursday, January 12, 2017 9:57:00 AM
Rank: Elder


Joined: 12/7/2012
Posts: 7,174
This largely depends on the bank and age/activity of the account........ sometimes the branch based on fraud activities experienced in the recent past.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Bigchick
#12 Posted : Thursday, January 12, 2017 8:15:54 PM
Rank: Elder


Joined: 2/8/2013
Posts: 2,904
Location: At Large.
It all depends on amounts transacted before.Has she ever deposited cheques in her account of such an amount?If not the bank will be curious to know source of funds.

Part of prudential guidelines from CBK on Anti Money Laundering.

Just give her a fowarding note saying..."Dear mum....please receive this 100k as part of my support towards completion of our house
...

Your sweet and loving son Enyands.

She can show that to the branch manager.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
sparkly
#13 Posted : Friday, January 13, 2017 1:44:47 PM
Rank: Elder


Joined: 9/23/2009
Posts: 5,465
Location: Enk are Nyirobi
Bigchick wrote:
It all depends on amounts transacted before.Has she ever deposited cheques in her account of such an amount?If not the bank will be curious to know source of funds.

Part of prudential guidelines from CBK on Anti Money Laundering.

Just give her a fowarding note saying..."Dear mum....please receive this 100k as part of my support towards completion of our house
...

Your sweet and loving son Enyands.

She can show that to the branch manager.


Best advise, just brilliant.
Life is short. Live passionately.
enyands
#14 Posted : Friday, January 13, 2017 5:35:01 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,233
Location: kenya
Bigchick wrote:
It all depends on amounts transacted before.Has she ever deposited cheques in her account of such an amount?If not the bank will be curious to know source of funds.

Part of prudential guidelines from CBK on Anti Money Laundering.

Just give her a fowarding note saying..."Dear mum....please receive this 100k as part of my support towards completion of our house
...

Your sweet and loving son Enyands.

She can show that to the branch manager.


Thanks a bunch.i have instructed someone to deposit. I'll wait and see banks reaction
hardwood
#15 Posted : Friday, January 13, 2017 11:27:05 PM
Rank: Elder


Joined: 7/28/2015
Posts: 4,463
enyands wrote:
Bigchick wrote:
It all depends on amounts transacted before.Has she ever deposited cheques in her account of such an amount?If not the bank will be curious to know source of funds.

Part of prudential guidelines from CBK on Anti Money Laundering.

Just give her a fowarding note saying..."Dear mum....please receive this 100k as part of my support towards completion of our house
...

Your sweet and loving son Enyands.

She can show that to the branch manager.


Thanks a bunch.i have instructed someone to deposit. I'll wait and see banks reaction


100k is pesa kidogo. There shouldn't be any problems.
wa P
#16 Posted : Saturday, January 14, 2017 8:35:55 AM
Rank: Member


Joined: 5/26/2009
Posts: 313
Location: Nairobi
Bigchick wrote:
It all depends on amounts transacted before.Has she ever deposited cheques in her account of such an amount?If not the bank will be curious to know source of funds.

Part of prudential guidelines from CBK on Anti Money Laundering.

Just give her a fowarding note saying..."Dear mum....please receive this 100k as part of my support towards completion of our house
...

Your sweet and loving son Enyands.

She can show that to the branch manager.


I strongly oppose this letter on following grounds,

1. It is a record showing a brother contributed to mom's house. The other sons may have contributed, maybe more than 100k but no letter so will be disadvantaged.


2. He should sign as, 'one of your sweet and loving son'

That said....Brilliant suggestion.
enyands
#17 Posted : Saturday, January 21, 2017 4:09:42 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,233
Location: kenya
So this what happened :
Coop bank called my account signatory to ask if that signatory signed my cheque leaf and if it's OK to honor payment and my signatory said yes

My mother withdrew the cash with no problem from barclays . It's cheaper than mpesa as someone mentioned because it's free, there is no exposure risk like withdrawing 100k from an mpesa agent.

It short it was a success and the over verification thing was just a hype.Ahsanteni
Taurrus
#18 Posted : Sunday, January 22, 2017 7:21:30 PM
Rank: Member


Joined: 8/25/2015
Posts: 631
Location: Kite
enyands wrote:
So this what happened :
Coop bank called my account signatory to ask if that signatory signed my cheque leaf and if it's OK to honor payment and my signatory said yes

My mother withdrew the cash with no problem from barclays . It's cheaper than mpesa as someone mentioned because it's free, there is no exposure risk like withdrawing 100k from an mpesa agent.

It short it was a success and the over verification thing was just a hype.Ahsanteni

You think so?
enyands
#19 Posted : Sunday, January 22, 2017 10:30:13 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,233
Location: kenya
Taurrus wrote:
enyands wrote:
So this what happened :
Coop bank called my account signatory to ask if that signatory signed my cheque leaf and if it's OK to honor payment and my signatory said yes

My mother withdrew the cash with no problem from barclays . It's cheaper than mpesa as someone mentioned because it's free, there is no exposure risk like withdrawing 100k from an mpesa agent.

It short it was a success and the over verification thing was just a hype.Ahsanteni

You think so?


Taarus can you withdraw 100k from an agent in CBD and walk free with no fear on the street
Taurrus
#20 Posted : Monday, January 23, 2017 12:20:30 PM
Rank: Member


Joined: 8/25/2015
Posts: 631
Location: Kite
enyands wrote:
Taurrus wrote:
enyands wrote:
So this what happened :
Coop bank called my account signatory to ask if that signatory signed my cheque leaf and if it's OK to honor payment and my signatory said yes

My mother withdrew the cash with no problem from barclays . It's cheaper than mpesa as someone mentioned because it's free, there is no exposure risk like withdrawing 100k from an mpesa agent.

It short it was a success and the over verification thing was just a hype.Ahsanteni

You think so?


Taarus can you withdraw 100k from an agent in CBD and walk free with no fear on the street

Danger everywhere! from agents /tellers roads,kp, everywhere !
Users browsing this topic
Guest
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2017 Wazua.co.ke. All Rights Reserved.