Natwest refuses deposit without 'paying in' slip

dunstonh

This doesnt make sense, lots of customers pay into other peoples accounts and they dont bank with the bank concerned, the person who they are paying in for does!!

I didnt say it wasnt possible. I just said it was one of the higher risks for a counter transaction.

You don't know the person paying. So, an error on the paying in slip (number reversal or wrong digit for example) means the money doesnt get where it is meant to go and you have no means of finding out who paid in.

For large cash transactions, you also have money laundering issues potentially.

When dealing with risks, the banks decide what measures they want to take in mitigating risks. Back in my banking days, the bank I was with stopped taking cash payments for third party payments for individuals from non-customers. It would take them for corporate payments and for accounts held at that branch.

There was also discretion to overrule that rule. Typically meant getting ID from the person and writing contact details on the BGC.

This could be paying rent into a landlords account, paying a builder? or paying for fence panels, or a bathroom fitter, anything as long as you have the details, you shouldn't have to be a customer to pay into an account.

And how many of those would withdraw cash from their own bank, then walk to a different bank they have no relationship with and pay it there. Most would either write a cheque and pay it at their own bank or use the counter service of their own bank.