Abbey paying in cash concern

Irishorangutan

Hi all,

I'm very tempted by the Abbey business account. I pay ridiculous fees on RBS for my bank and it would be fantastic to save.

However, I do pay around 3k into my account in cash every month. I'm concerned about this method of paying in cash. If it's simply a case of putting it in an envelope and popping past the branch, that is great, but if it's more than that i'm a little concerned at how inconvenient it might be?

any help appreciated.

Silver_3

Hi, you use paying in envelopes to deposit cash in at abbey cash machines. You insert your card and follow the instructions on screen then put in an envelope of cash (no coins allowed). The money goes in two days later.

There is a monthly transaction limit of £3,000 for cash desposited.

I know someone who uses a normal giro current account to pay in money at the post office for 7 pubs he owns. I think he's with A&L. Some banks don't like you using a personal account for business use but some are ok about it.

My brother is with Llloyds TSB and uses his current account for business work (which they have agreed to). Mind you he only has one business client and doesn't earn much or use it to pay direct debits etc.

Silver

Irishorangutan

I need to stick with an actual business account due to some of the amounts that are going in - but thanks a lot for the advice. I phoned Abbey just before reading this and applied, and they explained how you pay in the cash so i'm happy with that!