Can I pay money into a bank account at the local post office?

chrisfreelander54

At present I'm looking at possibly changing our children's savings accounts, from the halifax (which has a paying in book), to the co operative, as their children's accounts come with a basic bank card.

The reason for this is due to to the idea of letting them pay any money they receive into the account via our local post office, as our local branch of halifax is 7 miles away in the city centre, which means either driving, or taking a bus trip, and in all honesty we very rarely visit the city centre as a family.

So I'm wondering is it possible to do this, or, can you only withdraw money from a bank account via the post office?

Regards

CF54

rb10

Have you checked the relevant page on the Co-op website?

http://www.co-operativebank.co.uk/savings/bonus-account

It talks about cheques at the post office, but not cash.

I'd also suggest checking the interest rates tab. You can get 3% from TSB or Lloyds.

stclair

Looking at the post office website it appears you can:

http://www.postoffice.co.uk/branch-banking-services#withdrawals_&_deposits

However I think you need to pre printed paying in slips to use the facility.

rb10

stclair wrote: »

Looking at the post office website it appears you can:

http://www.postoffice.co.uk/branch-banking-services#withdrawals_&_deposits

However I think you need to pre printed paying in slips to use the facility.

I would be wary of that site - it's often out of date (it was showing incorrect info for Halifax for well over a year), and will be refering to main 'adult' current accounts.

dibuzz

The easiest thing is to ask at the Post Office.
I remember seeing something a couple of years ago about paying in for bank accounts but you needed the proper paying in slips from the bank to do it.

Frozen_up_north

rb10 wrote: »

I would be wary of that site - it's often out of date (it was showing incorrect info for Halifax for well over a year), and will be refering to main 'adult' current accounts.

I would be very careful of the Post Office web site, it says Santander Bank customers can withdraw cash from a Post Office, having just changed to Santander I found it wasn't the case. Double check with both Co-Op and a local Post Office.

As per the other posting, Co-Op offer next to no interest, 0.25% interest equates to a loss of around 2.45% based on the current CPI level of inflation (2.7% in August 2013).

johnmc

Definitely ask at your local Post Office.

One local one will only accept payments to Barclays in a deposit envelope. I fear putting cash in and the envelope arriving empty.

If you cannot pay cash over the counter with a deposit slip then only do cheques.

System

When I had used the Halifax PO service, they use only the deposit slip with cash. They detach the slip with cash then stamp the deposit stub much like a bank branch.

Cheques need the envelope with the slip and cheque inside.

Be aware that they are slow - took about 5 days to hit the account.

johnmc wrote: »

Definitely ask at your local Post Office.

One local one will only accept payments to Barclays in a deposit envelope. I fear putting cash in and the envelope arriving empty.

If you cannot pay cash over the counter with a deposit slip then only do cheques.

Twisted_Cherry

On the Co-Op Cashminder Account I pay in money, cash at the PO all the time! In fact just switched from Halifax to Lloyds so I can do it with that account as well!

rb10

Twisted_Cherry wrote: »

On the Co-Op Cashminder Account I pay in money, cash at the PO all the time! In fact just switched from Halifax to Lloyds so I can do it with that account as well!

That is an adult account; the original poster is asking about childrens' accounts.

(But to go off topic for a moment - you can pay into Halifax accounts at the Post Office).

typistretired

“THE CO-OPERATIVE BANK BONUS ACCOUNT

Any child aged between 7 and 17 years, 9 months, can open the Bonus account in their sole name, which means that only they will have full control and/or access to their account.

Bonus Account holders may also be eligible for a cash card from age 11.

Paying money in
At the Post Office - by paying in cheques using a pre addressed envelope.”

So have to pay in cash via a Co-operative Bank