Cash into IF

student100

If you have an account with another bank you could pay in the cash to them, then log in to your online banking and make a BACS transfer to the IF account. Shouldn't cost anything.

When you pay in cash it should be available in the account you pay it into straight away, then the BACS transfer may take 3-4 days to go through.

FieryBlondeScot

i switched from barclays to IF in june and it never occured to me that i owuld not be able to pay money into my if account in the same way as i used to with barclays, i am finding it a nuisance and am thinking about switching current account AGAIn, i was considering the Alliance and Leicester but am jus about to read the top topic and it does not look encoraging!!

if i want to put money into my IF account i have to pay it into barclays first then transfer it over to If online, so similarly i have the IF isa and when i wanted to pay in £2400 i had to first pay it into barclays, then transfer it to the IF account THEN transfer it from the if current accoun to the If ISA ARRGGGGGGH >:(

Aark

I found this same problem with Intelligent Finance. I was expecting to be able to pay in cash at Halifax counters/ATMs but you can't.

At least I now have a use for my First Direct account opened to get the free £25, as you can pay-in to these at HSBC branches.

Unbelievable_2

IAt least I now have a use for my First Direct account opened to get the free £25, as you can pay-in to these at HSBC branches.

I think, as M Thomspson pointed out earlier, you can pay cash into IF (fee free) using an IF paying in slip if you do it at a bank where you already have a current account. I have a LLoyds current a/c and I paid cash straight into IF - no charge. :-/

akh43

I have only paid cheques into my IF account, which I post using the prepaid envelopes they provided. I have never had a problem doing this. As for cash I have never yet had to do that, but I would probably pay into my other current account as it seems easier.

Lychee

IF is a subsidary of HBOS and Halifax/BOS branches are unable to accept credits for IF accounts as they are seperate from branch based accounts. Its best to either pay in cash at a clearing bank which you have an account with using an if payment slip. Or pay into another bank account, and do a BACS trasfer over to the IF account,

Forgive my ignorance, but what's a clearing bank? Is this any brick-and-mortar bank I have a current account with?

Also..........
I have an a/c with IF but no pre-paid envelopes for paying in cheques. Anyone know how I can get a few? Do I contact them?

Thanks

akh43

I sent them an e-mail via the IF website (contact us link I think) and they replied a couple of days later and sent me about 10 prepaid envelopes.

hope this helps.

MarkyMarkD

Forgive my ignorance, but what's a clearing bank? Is this any brick-and-mortar bank I have a current account with?

A clearing bank is a bank you have a current account with, but not Halifax, Abbey, Nationwide or A&L (or, by implication, IF or Cahoot).

jkp_3

Intelligent finance used to provide pre-paid envelopes but no longer offer this service. Now, they will only provide self-addressed ones.
If we all complain about this, they may change their policy.

Lychee

Thanks for the replies...

I sent a message to IF, asking for the envelopes and they've arrived today, NOT pre-paid:P I did ask for paying-in slips as well but these were not included. They certainly don't encourage existing customers to send them cheques! A quick look at their FAQ and found this :

2. Can I make deposits by cheque?

Your initial deposit can be made by cheque. Any further deposits should be made by direct debit or by transferring money between your Intelligent Finance jars.


:-/