Account deposit cash for relative

stphnstevey

I have an elderly relative who doesn't trust and won't even register for internet or phone banking & likes to still draw out large amounts of cash and pay bills & shopping with cash where she can

She wants to help her grandson with university by giving him varying amounts of cash when she has some left over in a month. She was going to send cash in the post. I told her this was not a very safe way & she should make a bank transfer, but she can't without registering for internet or telephone banking & simply doesn't trust it.

The nearest branch is quite far & with covid she doesn't want to travel

She has a local post office which possibly will allow cash deposits

Obviously, she would prefer no fees to transfer the money so the grandson gets all of what she is giving

The grandson currently has a Lloyds account. I was wondering if it was possible for her to make cash deposits into his account someway?
The grandson is happy to open another account with another bank if it is any easier

Thanks for your help

Edi81

Unfortunately many banks don’t allow non account holders to deposit money due to anti money laundering. 

Does she have a cheque book?

smashinglynaive

stphnstevey said:

I have an elderly relative who doesn't trust and won't even register for internet or phone banking & likes to still draw out large amounts of cash and pay bills & shopping with cash where she can

She wants to help her grandson with university by giving him varying amounts of cash when she has some left over in a month. She was going to send cash in the post. I told her this was not a very safe way & she should make a bank transfer, but she can't without registering for internet or telephone banking & simply doesn't trust it.

The nearest branch is quite far & with covid she doesn't want to travel

She has a local post office which possibly will allow cash deposits

Obviously, she would prefer no fees to transfer the money so the grandson gets all of what she is giving

The grandson currently has a Lloyds account. I was wondering if it was possible for her to make cash deposits into his account someway?
The grandson is happy to open another account with another bank if it is any easier

Thanks for your help

She needs to give someone Lasting Power of Atorney at this stage.  There is nothing other than an inevitability that she will lose the ability to be able to make those decisions at some point.  And it will make it at lot easier when that time comes, Court of Protection orders are not cheap.

maxsteam

She can write a cheque and put it in the post. This is how it used to be done in the days before the internet. Your elderly relative will know what "write a cheque" means. Banks and building societies will write the cheque for her if there's any reason why she cannot write the cheque herself.

Yes, sending cash through the post should be avoided at all cost. 

Emily_Joy

I have a cheque book from Lloyds which also has a few paying in slips. I believe one can use a paying in slip to deposit cash at the Post Office.  So if the grand son sends the elderly relative the paying in slips, she should be able to use those.

mgdavid

could she give you the cash, you either use the cash or pay it in to your account, and you do a bank transfer to the grandson?

maxsteam

... or here's a compromise suggestion if the payer wants to use old payment methods and the payee wants to use modern methods... 

Grandma writes a good old-fashioned cheque. She then takes pictures of the front and back of the cheque and sends these to grandson (by email, Whatsapp or post, as preferred - post is being silly but it would still work). Grandson can then "pay" the cheque into his bank account using his mobile banking app (assuming he is using a bank that is up-to-date with the services they offer and assuming that the amount is within the limit for this service). 

cx6

maxsteam said:

... or here's a compromise suggestion if the payer wants to use old payment methods and the payee wants to use modern methods... 

Grandma writes a good old-fashioned cheque. She then takes pictures of the front and back of the cheque and sends these to grandson (by email, Whatsapp or post, as preferred - post is being silly but it would still work). Grandson can then "pay" the cheque into his bank account using his mobile banking app (assuming he is using a bank that is up-to-date with the services they offer and assuming that the amount is within the limit for this service). 

wonder if grandma has a smartphone and whatsapp....

cheque in the post sounds perfect and also a 'letter' is a nice thing to receive from your grandma

grandson can prob use his smartphone to pay the cheque in

mab3000

maxsteam said:

... or here's a compromise suggestion if the payer wants to use old payment methods and the payee wants to use modern methods... 

Grandma writes a good old-fashioned cheque. She then takes pictures of the front and back of the cheque and sends these to grandson (by email, Whatsapp or post, as preferred - post is being silly but it would still work). Grandson can then "pay" the cheque into his bank account using his mobile banking app (assuming he is using a bank that is up-to-date with the services they offer and assuming that the amount is within the limit for this service). 

All the banking apps I use require you to take a photo of the cheque not upload it. Not sure how well a photo of a photo of a cheque will work when you pay it in via a banking app. That’s without emailing or whatsapping the image with grandmas reservations about technology 

As others have said, either sending a cheque, or the grandson orders a paying in book for his account, gives it to his grandma, then cash can be paid in at the post office 

Zanderman

Another vote for using a cheque, it is the obvious solution. 

Easily written, easily posted and easily paid in at (most) banks via apps. Or at at an actual bank or PO.

(taking a photo of a cheque and sending the photo as suggested by Maxsteam is pointless and won't work!)

Zanderman

smashinglynaive said:

stphnstevey said:

I have an elderly relative who doesn't trust and won't even register for internet or phone banking & likes to still draw out large amounts of cash and pay bills & shopping with cash where she can

She wants to help her grandson with university by giving him varying amounts of cash when she has some left over in a month. She was going to send cash in the post. I told her this was not a very safe way & she should make a bank transfer, but she can't without registering for internet or telephone banking & simply doesn't trust it.

The nearest branch is quite far & with covid she doesn't want to travel

She has a local post office which possibly will allow cash deposits

Obviously, she would prefer no fees to transfer the money so the grandson gets all of what she is giving

The grandson currently has a Lloyds account. I was wondering if it was possible for her to make cash deposits into his account someway?
The grandson is happy to open another account with another bank if it is any easier

Thanks for your help

She needs to give someone Lasting Power of Atorney at this stage.  There is nothing other than an inevitability that she will lose the ability to be able to make those decisions at some point.  And it will make it at lot easier when that time comes, Court of Protection orders are not cheap.

She may already have LPA in place.  But it's irrelevant to the thread.

The thread is about how to gift her grandson some money regularly, not about her overall financial future.