Is this yearly amount only for personal account? As i know 2 businesses that operate in cash, complete legit business and they not had their accounts closed as of yet?

I know they want a cashless society but if it's a business account and you trade mostly in cash how can this work especially if other banks follow suit.

So grateful for (Nige) highlighting the issues which has put more pressure on government and banks to make changes. It's terrible how they are punishing people for dealing in cash or political views.

spoke to natwest at the branch. the 24k limit is for personal only. if you hv a business account there's no limit on how much cash you can put

Hi

I think it may be under umbrella. For example HSBC also owns first direct. So they be in contact with each other.

But Barclays and LLoyds separate.

But just taking a guess. Any updates let me know.

The inevitable happened to me a few weeks ago when trying to pay into my usual  First Direct personal account at the PO and the screen said 'payment declined'. The PO worker seemed baffled and kept trying but it kept saying same so I'm guessing it's because I'd exceeded 24K cash in this year.

It did however accept payments into my back up First Direct personal account and has continued to do so ever since. So far so good, same bank, but I really must set myself up with another bank  as well - not linked to HSBC -  just in case.

I spoke with a client recently who works at a building society about this, as I use Santander for the rent and council tax for my working flat. I couldn’t pay in cash at the machine as I hit £10,000 which is their new yearly limit. I went to the counter and asked why. They said new money laundering rules but I could still pay in more cash at the counter.

My client said to have several accounts in several places, they do not link up. Or to put some cash into savings accounts and then transfer to the current account as they are not monitored as heavily as current accounts. Same with business accounts, cash is not monitored the same way either.

Is there an account that would let me pay in cash at the post office? That would be convenient.

Most UK high street banks will.let you deposit cash at the Post Office; the problems people are having are because the limit is now relatively low. There is a thread about it here

Even my bloody Barclays business has limited me to 20 thousand a year cash deposit. WTF!!

This is sort of what my other thread was about re sex workers going digital

I wouldn't mind using a card machine but worried about charge backs and privacy etc

Maybe I'll bite the bullet and get a PO account too. Although don't like them after their scandal but guess beggers can't be choosers.

The other thing that bugs me is I have friends (escorts and otherwise) that earn their money cash in hand but then spend their money using card and to me that doesn't help.

 I spend cash wherever I can so that I don’t hit the cash limits
It’s not hard to do
 I removed my card details from Amazon 😂
I buy Amazon vouchers in cash to use on my Amazon account
I buy gift card vouchers  in cash for Netflix so I upload the voucher and use that 😂
I buy hotels .com vouchers to pay for my hotels on hotel .com
I always check at hotel if I can pay cash and a surprising lot will accept cash

I pay for my holidays in a travel agent so pay cash
I buy neosurf vouchers if I need them for Adultwork
If I want something of asos /bo hoo I get the vouchers in cash
Petrol /eating out buying food I pay for in cash
I always keep a min of a £100 in cash in my purse
I only use my cards if I really really have to

 I just keep all the receipts for hotels .com Amazon for my expenses 
Birthday presents for nieces and nephews  I just give them  cash in a card


This week I think I’ve only spent less 80  quid on my card and that was in a restaurant
It also means I don’t spend nowhere near as much as I used to on random shit online