Bitcoin Forum
January 21, 2019, 12:58:50 PM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Few questions about selling bitcoin via bank transfer in the UK  (Read 2572 times)
jamrammer
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
October 16, 2014, 05:19:23 AM
 #1

Hello all

Been lingering about this forum for a while but never registered until now.

Got a question regarding the selling of coin in the UK via bank transfer, say someone I know has done it a few times in the last couple of months in quite big denominations, £50 to £400 at a time, averaging about £150 a time, would there be any repercussions from this? would the bank start asking questions? say each month there has been about 3k going in from these transactions what would happen, if anything?

Also I know the law regarding bitcoin in the uk but not 100% completely aware of it, as it's such a misunderstood subject in the world.

Thanks in advance.
1548075530
Hero Member
*
Offline Offline

Posts: 1548075530

View Profile Personal Message (Offline)

Ignore
1548075530
Reply with quote  #2

1548075530
Report to moderator
1548075530
Hero Member
*
Offline Offline

Posts: 1548075530

View Profile Personal Message (Offline)

Ignore
1548075530
Reply with quote  #2

1548075530
Report to moderator
1548075530
Hero Member
*
Offline Offline

Posts: 1548075530

View Profile Personal Message (Offline)

Ignore
1548075530
Reply with quote  #2

1548075530
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1548075530
Hero Member
*
Offline Offline

Posts: 1548075530

View Profile Personal Message (Offline)

Ignore
1548075530
Reply with quote  #2

1548075530
Report to moderator
1548075530
Hero Member
*
Offline Offline

Posts: 1548075530

View Profile Personal Message (Offline)

Ignore
1548075530
Reply with quote  #2

1548075530
Report to moderator
runam0k
Legendary
*
Offline Offline

Activity: 1036
Merit: 1000


Touchdown


View Profile
October 18, 2014, 07:22:37 PM
 #2

These amounts are pretty small, you should be fine. Ultimately, you're just buying and selling property. It could be anything. There's a VAT threshold at £81k(?)/year where they might think you are a business that needs a business accout.
feendog
Newbie
*
Offline Offline

Activity: 36
Merit: 0


View Profile
October 20, 2014, 01:24:59 PM
 #3

i also wondered the same, seen in another post that it has happened to a few people in the usa man.
Bitcoin Magnet
Member
**
Offline Offline

Activity: 113
Merit: 10


View Profile WWW
November 17, 2014, 11:13:12 PM
 #4

Hello all

Been lingering about this forum for a while but never registered until now.

Got a question regarding the selling of coin in the UK via bank transfer, say someone I know has done it a few times in the last couple of months in quite big denominations, £50 to £400 at a time, averaging about £150 a time, would there be any repercussions from this? would the bank start asking questions? say each month there has been about 3k going in from these transactions what would happen, if anything?

Also I know the law regarding bitcoin in the uk but not 100% completely aware of it, as it's such a misunderstood subject in the world.

Thanks in advance.

If you're still looking to sell coins, try us: www.bitcoinmagnet.co.uk
Probably the easiest way to sell Bitcoins in the world  Wink

Bitcoin Magnet - Buy & sell bitcoin automatically using your UK bank account!
murraypaul
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
November 18, 2014, 12:06:49 AM
 #5

Got a question regarding the selling of coin in the UK via bank transfer, say someone I know has done it a few times in the last couple of months in quite big denominations, £50 to £400 at a time, averaging about £150 a time, would there be any repercussions from this? would the bank start asking questions? say each month there has been about 3k going in from these transactions what would happen, if anything?

Ultimately only your bank know for sure, but if you are regularly receiving 3k a month from various bank transfers in small chunks, it is very likely that the bank will flag your account and either close it or require you to open a business account instead.

BTC: 16TgAGdiTSsTWSsBDphebNJCFr1NT78xFW
SRC: scefi1XMhq91n3oF5FrE3HqddVvvCZP9KB
Pages: [1]
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!