Sue
-
Transferring money from parents english account to IoM account via my uk account
Hi My parents have moved to the Isle of Man and need to transfer their money from the english building society account to their new IOM bank account - the building society have said that this cannot be done by phone and they dont have internet banking set up for my parents, which would mean they need to be in England, at a branch, to do the transfer. As they are over 87 now, neither of them want to do the journey back over to England (nor are they particularly physically able) and so they have asked me if I would send them the money if they send me it first as a cheque. My question is, is this legal or do I need to declare anything? Its around £20k they need to move. Thanks