Minimum Pay-In for New Bank Acc.?

GreenBlue

Hi, this is my 1st ever post :T! Can anyone tell me , When you open a new Bank Acc. which requires you to pay in a Minimum amount , Does this HAVE to be a salary , or can this be from a DIFFERENT bank account ? THANKS for any replies.:j

Fruit_and_Nut_Case

Green/Blue wrote: »

Hi, this is my 1st ever post :T! Can anyone tell me , When you open a new Bank Acc. which requires you to pay in a Minimum amount , Does this HAVE to be a salary , or can this be from a DIFFERENT bank account ? THANKS for any replies.:j

Welcome to MSE :wave:

I've never seen one that requires a salary (or pension for that matter). A transfer from another account is acceptable. There's no minimum time to keep the money in the new account either.

For completeness, an account with another bank is always fine, some even accept transfers from another of your accounts with the same bank, should you happen to have one.

grumbler

Green/Blue wrote: »

Can anyone tell me , When you open a new Bank Acc. which requires you to pay in a Minimum amount , Does this HAVE to be a salary , or can this be from a DIFFERENT bank account ? THANKS for any replies.

Most accounts don't require this.
If they do require it, this is typically only for getting some extras/benefits.

Can you not use capital letters more sensibly?

Zanderman

Green/Blue wrote: »

Hi, this is my 1st ever post :T! Can anyone tell me , When you open a new Bank Acc. which requires you to pay in a Minimum amount , Does this HAVE to be a salary , or can this be from a DIFFERENT bank account ? THANKS for any replies.:j

As others have already said, no it doesn't have to be a salary. It just has to be the minimum amount.

The 'salary' pay in is not in any T&C but some banks do (misleadingly) mention it in their ads - for example Lloyds current TV ad for their interest paying account says 'all you have to do is pay in your salary'.

They are just trying to persuade you it has to be a salary to make you use it as a main account.