LBG - restrictions on cash deposits

NoMoneyNoWorries

I have heard that with the upcoming banking hubs (currently in the first stages of rollout) that LBG will be limiting cash deposits to £2995 p/m or £20000 per year,
There may have been rumours about this sort of thing in the past but it looks like it is going to happen in earnest.
Watch this space...

WillPS

NoMoneyNoWorries said:

I have heard that with the upcoming banking hubs (currently in the first stages of rollout) that LBG will be limiting cash deposits to £2995 p/m or £20000 per year,
There may have been rumours about this sort of thing in the past but it looks like it is going to happen in earnest.
Watch this space...

Operationally Banking Hubs are just Post Office counters - there is already exactly the limit you state for paying in with a debit card among others:

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/post-office.html

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/banking-hub.html

No need to watch this space

etienneg

Why would anyone have a LEGITIMATE need to pay in more cash than that?

NoMoneyNoWorries

WillPS said:

NoMoneyNoWorries said:

I have heard that with the upcoming banking hubs (currently in the first stages of rollout) that LBG will be limiting cash deposits to £2995 p/m or £20000 per year,
There may have been rumours about this sort of thing in the past but it looks like it is going to happen in earnest.
Watch this space...

Operationally Banking Hubs are just Post Office counters - there is already exactly the limit you state for paying in with a debit card among others:

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/post-office.html

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/banking-hub.html

No need to watch this space

I'll keep an eye out anyway as I'll be the one picking folded/ripped/sellotaped back together notes/receipts/coins  out of the dammed things. keeps me in a job I guess

WillPS

NoMoneyNoWorries said:

WillPS said:

NoMoneyNoWorries said:

I have heard that with the upcoming banking hubs (currently in the first stages of rollout) that LBG will be limiting cash deposits to £2995 p/m or £20000 per year,
There may have been rumours about this sort of thing in the past but it looks like it is going to happen in earnest.
Watch this space...

Operationally Banking Hubs are just Post Office counters - there is already exactly the limit you state for paying in with a debit card among others:

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/post-office.html

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/banking-hub.html

No need to watch this space

I'll keep an eye out anyway as I'll be the one picking folded/ripped/sellotaped back together notes/receipts/coins  out of the dammed things. keeps me in a job I guess

I'm confused. What are you going to keep an eye out for? Where are you picking these defaced bank notes from?

jimjames

etienneg said:

Why would anyone have a LEGITIMATE need to pay in more cash than that?

Selling a car? I've had more than that to pay in before

oldagetraveller1

jimjames said:

etienneg said:

Why would anyone have a LEGITIMATE need to pay in more cash than that?

Selling a car? I've had more than that to pay in before

Exactly. It was 12 years ago though, but I sold my late F in L's car and the buyer paid cash - £4000+. Paid into my Lloyds account, over the counter, in branch. I think there was a form to complete confirming where the cash had come from.

NoMoneyNoWorries

WillPS said:

NoMoneyNoWorries said:

WillPS said:

NoMoneyNoWorries said:

I have heard that with the upcoming banking hubs (currently in the first stages of rollout) that LBG will be limiting cash deposits to £2995 p/m or £20000 per year,
There may have been rumours about this sort of thing in the past but it looks like it is going to happen in earnest.
Watch this space...

Operationally Banking Hubs are just Post Office counters - there is already exactly the limit you state for paying in with a debit card among others:

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/post-office.html

https://www.lloydsbank.com/help-guidance/everyday-banking/banking-near-you/banking-hub.html

No need to watch this space

I'll keep an eye out anyway as I'll be the one picking folded/ripped/sellotaped back together notes/receipts/coins  out of the dammed things. keeps me in a job I guess

I'm confused. What are you going to keep an eye out for? Where are you picking these defaced bank notes from?

I'm an ATM maintenance guy

MEM62

etienneg said:

Why would anyone have a LEGITIMATE need to pay in more cash than that?

Because there are still trades and businesses that are LEGITIMATELY cash business.  

Ballard

MEM62 said:

etienneg said:

Why would anyone have a LEGITIMATE need to pay in more cash than that?

Because there are still trades and businesses that are LEGITIMATELY cash business.  

Businesses have different limits, the below link is for Post Offices but I suspect that the same would be true for the banking hubs. Whether or not that’s sufficient for most operations, I don’t know. Five years ago I’d have said not, but with so many card transactions it may be fine now. 

https://www.lloydsbank.com/business/retail-business/banking-with-us/post-office.html