How do you pay cash in at a bank?

B0bbyEwing

"Cash is king"

But with seemingly (to me) online banking being pushed more & more and then seeing more bank branches closed around the country, what do you do in the event you have cash to pay in at a bank but no bank to pay in at?

This was a question asked to me this week & I didn't know the answer. Doesn't really bother me too much as I tend not to deal in cash plus I'm with a lot of banks so I'd pretty much find one to suit myself I'd have thought.

But the person asking deals quite a lot in cash & they're not with many banks. They've done a lot of selling of things recently, cash in hand & have this to pay in at a bank.

So what'd they do when banks are being shut?

Have to travel the required distance to the next town that has their bank or is there an alternative way to that?

la531983

Post Office.

surreysaver

Find an acquaintance who wants some cash. Give them the cash and get them to transfer you the money

sheilavw

I always use my local Post Office when I want to pay in to my Nat West account

Rob5342

Most banks let you pay in cash at a list office, or they could ask people to pay by bank transfer or PayPal instead.

TimeLord1

Post office or alternative cash machine some still do envelopes, rare now or just cash in. Depends on your choice of cards and accounts really. I've noticed various businesses have cash machines in Iceland are pushing it heavy nowadays.

vacheron

https://forums.moneysavingexpert.com/discussion/comment/81861196#Comment_81861196

Similar. I'll ask around to see if anybody needs some, then just paypal or bank transfer them. Also if I am out with a group of friends for a meal or we usually split the bill, so whoever has excess cash pays with that and then we all transfer our share over.

I do the same with holiday currency too, especially as you both get the mid rate so the bureau doesn't profit both ways.

It depends how much though, a good few years ago I had someone buy a watch with cash (about £6K) and pay with £50 notes 🤦‍♂️. I took that to the bank and put it in over the counter as it would have took an eternity to find someone willing to take that lot! I thought they would be suspicious or do a lot of counterfeit checks given the notoriously forged denomination, but they just threw it straight in their counting machine and into a drawer!

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81861226#Comment_81861226

One of very few occasions when I'm really not sure if you mean the country or the shop.

Section62

So what'd they do when banks are being shut?

Building societies (for the time being) are generally keeping their branches open, so if it is personal money rather than business then they could open an account with whichever BS has a local presence and pay their cash in there.

I would be cautious about doing anything other than paying it in to my own account. I.e. don't do something for convenience which might give the impression of wrongdoing.

If I sell my grandmother for cash and pay it into my own account then I can evidence the source with emails/text messages/website listings if anyone were to ask where the money came from. Getting someone else to pay the money in for me would leave that someone needing to give the (honest) answer "I'm doing it for a mate/relative" which always looks dodgy. I also might have to account for why a third party is (regularly) transferring money into my account and the answer "I get them to pay cash in for me" looks equally dodgy. It isn't that there is anything legally wrong with doing that, it is just the impression it might give.

friolento

Lloyds, and presumably Halifax/BoS customers, can deposit small amounts of cash at PayPoints

Zinger549

If you have a Monzo account you can deposit at PayPoints.