Too much money

[Teamedup]

I haven't quite got to grips with what I have been told tonight, but the gist was that if you have too much money in certain types of accounts then if you don't shift the money to another account that is apt to deal with such a sum, then you can have your excess money taken from you, by the government?  And there are charges involved, hefty charges?

Too many people talking whilst I was asking lots of questions and that is all I got really.

So if any of you get letters telling you that x account has too much money in it and the bank proposes you making a transfer, maybe you should take this seriously and ask a few questions.

 

 

[allanb]

I haven't heard of this.  The only faint possibility I can think of is that it might refer to a tax-sheltered account like the Post Office "Livret A", which has a limit on the amount; perhaps if you make a deposit that exceeds the limit, there could be a penalty, although confiscation seems a bit harsh.

Anyway, if too much money is a real problem, there is a solution which I'm sure will be suggested by many of the helpful people on this forum.  All I ask is that you put my account number at the top of the list.

[Teamedup]

£3000 was taken, as 3 million was mentioned. The lady in question had been meaning to buy her daughter a few things and then this amount 'went'.

[Will]

I have to admit this does sound like the sort of scaremongering half-truth that you often find on certain other forums, but as TU has lived in France and experienced how things really are for a lot longer than most forum users it is worth taking this rather more seriously.

No, I have never heard of anything like it, but it wouldn't surprise me if something like this did exist. All I ask is that, if disposing of some of her millions, TU puts my bank details at No2 on the list behind allanb's.

Or maybe this is a very clever version of the Nigerian scam? [:D]

[Patf]

Could it be an exaggerated example of the new law about the government taking tax off interest at source from some savings accounts? To avoid this you move your money to the type of account that isn't subject to this law. Pat.

[Teamedup]

I'll tell you all, I was shocked. I was in rather a large group last night and someone came out with this at the other end of the table. But my ears pricked up. Everyone was talking at once too and I repeated all my questions several times before anyone answered, if in fact they were answering me. As everyone was still talking at the same time, I couldn't tell. You should know how it is at these things.  

I don't think that there was any scaremongering there, as no one else seemed to be surprised. But I think my shock meant that another friend decided to mention the kids being able to claim from parents thing, another example of injustice and madness, in her opinion.

I have to say that our various banks have in the past done very odd things with our accounts, transferred money and put them in accounts we hadn't opened without a by your leave from us. So that banks can and do very strange things isn't a surprise, that one could be practically fined for not sorting one's money out though, is.

I am going to ask my bank manager about this when I see him next. And if anyone knows anything more, I would be quite interested. Not that I have any money, but I am a curious soul.

[5-element]

Scaremongering? Please let me be one of the scaremongered, please?[:D][:D][:D]

[Bugsy]

Put me down as No.3 please.............................[:)]

[Teamedup]

[quote user="Patf"]Could it be an exaggerated example of the new law about the government taking tax off interest at source from some savings accounts? To avoid this you move your money to the type of account that isn't subject to this law. Pat.
[/quote]

 

No it wasn't that at all. And Monique was on about something else where she had to pay excessive charges to get her own money back that had been 'taken'. I missed half of that completely and would have like to know what had been taken and why and when. It was a very animated  evening last night. Cacophony comes to mind.