Banks

wmb194

Middle_of_the_Road said:

wmb194 said:

I would go back to first principles and ask why I have so much cash and is there some way to minimise or eliminate the amount I need to deal with.

In their post from last year, they were trying to easily deposit coins saved up over a period of time, so possibly not a regular problem.

Could probably pay by card instead and avoid the whole problem? Could use e.g., Chase or NatWest/RBS roundups to effectively save the pennies automatically in an online savings account.

JLMartin

Thank you everyone. I’ll try the post office 🤞.

Rob5342

wmb194 said:

Middle_of_the_Road said:

wmb194 said:

I would go back to first principles and ask why I have so much cash and is there some way to minimise or eliminate the amount I need to deal with.

In their post from last year, they were trying to easily deposit coins saved up over a period of time, so possibly not a regular problem.

Could probably pay by card instead and avoid the whole problem? Could use e.g., Chase or NatWest/RBS roundups to effectively save the pennies automatically in an online savings account.

That would be far easier, or just tip it.into the self service checkout when you go shopping and transfer the equivalent amount to your savings account. Thats what I do when my daughter gets given cash for Christmas or her birthday and wants it paying in so she can spend it online.

penners324

What bank?
Nearly all of them let you use a post office 

35har1old

DullGreyGuy said:

JLMartin said:
How on earth can people bank any more.  Yes I do have digital but that’s not the point.  I often still need to do this. It makes me so angry.

If you do it often how have you solved for it before?

It's in part why increasingly people don't accept cash if they can avoid it, its a risk holding/handling it, its time consuming/costly and inconvenient. 

The last time I had to go to a branch was years ago when the battery failed in my HSBC security token and they hadn't sent a replacement automatically. Before that would have been to deposit a cheque but that can now be done by App too. It's inevitable that as the majority rarely attend a branch that branches cease to be economical to run. They're no different to shop branches, if one isn't profitable then it gets closed down. 

Limit on cheque deposit £2000?

Rob5342

35har1old said:

DullGreyGuy said:

JLMartin said:
How on earth can people bank any more.  Yes I do have digital but that’s not the point.  I often still need to do this. It makes me so angry.

If you do it often how have you solved for it before?

It's in part why increasingly people don't accept cash if they can avoid it, its a risk holding/handling it, its time consuming/costly and inconvenient. 

The last time I had to go to a branch was years ago when the battery failed in my HSBC security token and they hadn't sent a replacement automatically. Before that would have been to deposit a cheque but that can now be done by App too. It's inevitable that as the majority rarely attend a branch that branches cease to be economical to run. They're no different to shop branches, if one isn't profitable then it gets closed down. 

Limit on cheque deposit £2000?

It depends on the bank, with Halifax it's £10,000.

eskbanker

Rob5342 said:

35har1old said:

Limit on cheque deposit £2000?

It depends on the back...

The front is normally the more significant side!

pridehappy

My local Nationwide ATM allows you to pay in cheques externally, but not cash. 

You could also consider local Post Offices or check if there’s a “Banking Hub” in your area.

Have you checked if you can post the cash to your bank? I believe Monzo offer this feature. I’d just make sure it’s tracked and you get insurance from your delivery courier though.

WillPS

pridehappy said:

Have you checked if you can post the cash to your bank? I believe Monzo offer this feature. I’d just make sure it’s tracked and you get insurance from your delivery courier though.

They don't: https://monzo.com/help/payments-getting-started/cash-deposit-how-to/

I've never seen a bank advise this as a method of cash deposit, for obvious reasons, and most postal services either refuse to carry it or at the least refuse to cover it in the case of loss.

pridehappy

WillPS said:

pridehappy said:

Have you checked if you can post the cash to your bank? I believe Monzo offer this feature. I’d just make sure it’s tracked and you get insurance from your delivery courier though.

They don't: https://monzo.com/help/payments-getting-started/cash-deposit-how-to/

I've never seen a bank advise this as a method of cash deposit, for obvious reasons, and most postal services either refuse to carry it or at the least refuse to cover it in the case of loss.

I'm 100% sure I saw it somewhere, but it's maybe long gone. I'm unsure if they put a limit on it however. Never mind.