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Where to put money

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  • 20-11-2020 2:32pm
    #1
    Luca G
    Banned (with Prison Access) Posts: 25 ✭


    Hi I recently came into some money from a relative who passed away 18k in cash but no proof it's from them so I dont want to put it in the bank for obvious reasons.
    I was thinking of putting it in the credit union and put in a certain amount each money for next few months but I have a loan out at the moment and am happy to keep paying it off the way I am

    Can I open a savings account in the credit union and put it in there ?
    But when I go for a mortgage i will need to give them my credit union account and they will see 18k in a savings account.

    Where should I put it ?
    In another bank? Or just leave it in my house and buy a small safe ?


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    #2
    One More Toy
    Registered Users Posts: 3,782 ✭✭✭One More Toy


    Luca G wrote: »
    Hi I recently came into some money from a relative who passed away 18k in cash but no proof it's from them so I dont want to put it in the bank for obvious reasons.
    I was thinking of putting it in the credit union and put in a certain amount each money for next few months but I have a loan out at the moment and am happy to keep paying it off the way I am

    Can I open a savings account in the credit union and put it in there ?
    But when I go for a mortgage i will need to give them my credit union account and they will see 18k in a savings account.

    Where should I put it ?
    In another bank? Or just leave it in my house and buy a small safe ?

    So, tax evasion then yeah?


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    #3
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    OMG - do not keep 18k in cash in your home.

    What is wrong with the bank? Or any other bank? I dont get the "obvious reasons". I'd prefer no money to cash under the floor boards afraid of the tax man or the mortgage man or whatever you are afraid of.

    Best bet for that amount of money would be state savings or prizebonds or something similar.


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    #4
    donnaille
    Registered Users Posts: 246 ✭✭donnaille


    Weren't you recently trying to get advice on a rented 'granny flat' that then turned into a studio, appearing to just want to avoid paying tax from the income - all while still trying to ensure you would still be considered a first time buyer?

    You'll have a lot less stress if you just do everything above board.


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    #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,316 Mod ✭✭✭✭Gumbo


    Mod Note.

    Dubious thread.

    The possibility of this descending into caos is strong.

    OP, if you legally inberitothe money then you’ve nothing to worry about.
    If you’ve illegally inherited the money then boards.or is no place to discuss.


This discussion has been closed.
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