Faster payment help

Deltascort1

Just to add I do think that most the issue lays with N26. It’s a 40 sort code which Lloyd’s said is not known. But it’s a uk sort code. So I think most of the problem is that. To be honest.

colsten

Deltascort1 wrote: »

She has moved banks because the savings that Lloyd’s offer and rates are so much better with regards to isa etc.

And just so many problems with NatWest. She tried to make a payment to me Christmas Eve for £4,880

All went through telephone banking with an advisor using her chip reader thing.

Then they blocked her account and held the payment until she want into the branch with 2 forms of Id. All banks were closed by 3pm Xmas eve. So we phoned them. Wouldn’t do anything.

They kept the block. All her cards. Internet banking. Xmas day. Boxing Day. Only when she went into the branch 27th. That they said that wanted to make sure she wasn’t being forced into the payment.

That was the last straw for NatWest.

So it's not actually the first time that your/your partner's cash deposits got investigated. TBH, I am not surprised as it is unusual that someone has £4.8k in cash coming into an account and then going straight out again. And then much the same again just a few working days later, albeit at a different bank. I would say that if you plan on continuing to do this, be prepared for many more delays. Your partner should also be prepared to having her accounts not only blocked but closed.

As an aside, you don't need to have all your accounts with a single bank. For example, there is no pressing reason why you would have an ISA with the bank you have your current account with. Regarding interest rates on savings: I would agree that Lloyds are a little better than Natwest overall, but Lloyds are far from the best.

masonic

Deltascort1 wrote: »

Just to add I do think that most the issue lays with N26. It’s a 40 sort code which Lloyd’s said is not known. But it’s a uk sort code. So I think most of the problem is that. To be honest.

40 sort codes include accounts with HSBC group. One of my current accounts has a 40 sort code.

Deltascort1

I deal in cash. I get paid for jobs in cash. I’m a builder and most of my clients pay cash.

frolic

So you have a business - and you are using your girlfriend's personal bank account to deposit large sums of cash that your business is making - and you are not happy with your girlfriend's bank's services, and the fact that they are doing fraud checks?

Chino

Deltascort1 wrote: »

I deposited £4360 from a job that I just did. As I can’t pay into my account as it’s online only and only way is a bank transfer.

Deltascort1 wrote: »

I deal in cash. I get paid for jobs in cash. I’m a builder and most of my clients pay cash.

I think the answer here is for the OP not to use a toytown bank for business banking.

colsten

Deltascort1 wrote: »

I deal in cash. I get paid for jobs in cash. I’m a builder and most of my clients pay cash.

The HMRC will love you.

meer53

OP, expect more checks than your usual bank customer then. You're using personal accounts for business purposes, checks will probably become more frequent and you may find your account is closed.

It's all over their website that payments can take one working day, sometimes 2 working days dependant on other banks operating hours.

Also, why, if you get paid in cash would you open a bank account where you can't pay cash in ? Doesn't make sense to me.

masonic

Deltascort1 wrote: »

I deal in cash. I get paid for jobs in cash. I’m a builder and most of my clients pay cash.

I'm surprised you would choose to run your business using a bank that doesn't have a convenient way to pay in cash. Did you not know you'd get paid for jobs in cash when you opened your account?

Others have mentioned that using a personal account for business banking is a no no. Sadly it is your partner who will face the consequences. The money might even be treated as her untaxed income until she proves otherwise.

NewToTheUkAgain

Why do you not have a secondary personal account yourself with a high street bank rather than using your partners account?

Secondly if it’s new breed of banking your after Starling do both personal and business banking.