Nat West travails

Looks like Nat West could be going to prison :joy: over money laundering.

It is alleged that around £365m was paid into the customer’s accounts, of which around £264m was in cash.

I wonder why they didn’t use Monzo?


Wow. One individual too.

It does say accounts though, so maybe the customer was trying to stay under the radar by using multiple accounts? We’ll never know, unless the decision reached in court is released into the public domain.

Where does it say it’s an individual? I read it as one UK incorporated company.

Got tongue-tied with the later statement: ““No individuals are being charged as part of these proceedings,” the watchdog said.”

So probably all legitimate, but outside of the laundering alarms which should have gone off.

It was some sort of money services business, I think.

“Do you do PayPoint?”

“Yes, sir. How can I help?”

“I’d like to deposit some cash.”

“We don’t do that, sir.”

“Sorry. I’d like to ‘top up’ this card.”

“That’s fine, sir. How much?”

“£245 million.“


Yes, it was Fowler Oldfield Ltd, according to the FT headline.

Someone paid in £365 million. I’d imagine the local Co-op would have had a fit if I’d tried paying that into my Monzo account…

The £245 million in cash should be about 7 cubic metres. How large is that? I don’t know, but it sounds large


Imagine a cube about 2m across.

That would be 8 cubic meters


That would be about 2.


about a concrete mixer wagon which would also help with the (alleged) laundering

Screenshot 2021-03-16 at 15.15.41


The banknotes would weigh about 5.4 tonnes. I just checked and you need 1 pod for a 5kg load, so that’s about 1080 Tide Pods to launder it properly


£20 notes are 139x73mm with an average size of a John Lewis 3 tier laundry rack made in China being 640mm wide with 19 wire rows you would need…

a lot … to dry it

Still Im sure it never occurred to Natwest that they would be anything dodgy about so much cash coming into a corporate account :-), they would have made a killing on the costs of paying cash in …mind you so would Monzo …

And around 12,250,000 pegs to hang all the £20’s. With about 3 seconds to pick-up a note and a peg & peg the note, it’d take 425 days without a break.

The stats are insane :chart_with_upwards_trend:


7 cubic metres…

So, the size of a London bedsit then.

I based my calculations on £50s, the £20s may be even more of a challenge!

1 Like

Just put this here NatWest Three - Wikipedia