In one of the pieces it states "Often criminals will evade checks by making multiple payments of up to €2,999 in cash at a time - the total amount that bank customers can pay without identifying themselves".

This morning my colleague ( not a criminal !!) was asked to produce i.d. for wanting to deposit 1000€ - and the bank know her !!

Hi Spook

We are in the process of buying a property in Tenerife and our agent told us the same thing. He said he has a lot of well off clients (not us unfortunately) who use this process to move money. He said anything under £3,000 is not questioned by the banks.

Jackie

Hi Jackie,

I know that 'ín general' 3,000 or under deposits do not require identification. However, as we are in Tenerife 'ín general' does not count. Its the same with NIE applications one week they want an certificado de empadriamento and the next week they dont .

I too work as an estate agent as does my colleague who was asked to provide i.d. for a 1000 euro deposit (she is also known in the bank!!). Its the same old Tenerife story - each situation and occaision is different and the next time she banks they may not ask for i.d. I expect each bank (and branch) will have different proceedures - it doesnt clarify anything, I know, but thats the nature of it here. However, banks are taking money laundering very seriously here - gone are the days of hassle free depositing or maybe its just residents who get the shakedown.