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Author Topic: Post office money deposit cap  (Read 8734 times)

amy

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Re: Post office money deposit cap
« Reply #15 on: 09 October 2022, 03:52:15 pm »
I was about to switch banks anyway for similar reasons (two of the branches I use regularly have closed and the remaining one is now only open 9.30-3pm), so I'll get on with that tomorrow.

I don't mean to derail the thread since it's specifically about the Post Office, but NatWest and Nationwide are two near me that definitely open 9am-4.30pm :)
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Mirror

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Re: Post office money deposit cap
« Reply #16 on: 09 October 2022, 04:00:35 pm »
Quote from: amy on 09 October 2022, 03:52:15 pm
I was about to switch banks anyway for similar reasons (two of the branches I use regularly have closed and the remaining one is now only open 9.30-3pm), so I'll get on with that tomorrow.

I don't mean to derail the thread since it's specifically about the Post Office, but NatWest and Nationwide are two near me that definitely open 9am-4.30pm :)

For any one using bank transfer (and I know you aren't Amy), transfers from Nationwide can take half a day to arrive (compared to instantly for most banks (even thought most quote 2 hrs it is in practice instant)) and sometimes not until following day or after the weekend(longer if bank holiday) . I am however considering a similar bank move.
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sultress000

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Re: Post office money deposit cap
« Reply #17 on: 26 November 2022, 09:23:56 am »
I'm with HSBC and this will be a nightmare for me too. Using post offices has been so convenient for me. I don't want to have to keep going  into town centres to the few remaining bank branches. I hope to god they aren't restricting the atm deposits too, my local branch doesn't even have a counter now  :FF
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Schwiftysquancher91

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Re: Post office money deposit cap
« Reply #18 on: 09 January 2023, 08:39:34 am »
Yep, it finally happened! I tried to deposit £450 and the person there said it had been declined. I tried again with £300 and it went through. They said it was maybe a £300 a day limit and I said thats ridiculous and she agreed lol. I have no local TSB banks here at all and I am not in London or drive so I have resorted to asking a friend to take my money to put into her bank to then transfer over to me  ::) I am lucky as everyone knows what I do so they can help me out but its still very inconvenient. At this rate I may stop turning down people wanting to opt for a bank transfer!
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ana30

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Re: Post office money deposit cap
« Reply #19 on: 09 January 2023, 12:13:11 pm »
Weird. I just stopped at the post office at my local branch in Central London after reading this thread this morning and asked them about any new restrictions in cash deposits and they said "absolutely not".

 ???
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Blossom_midlands

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Re: Post office money deposit cap
« Reply #20 on: 09 January 2023, 01:49:18 pm »
I've literally just paid £1100 into my business account, via post office. No problems at all..
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Mirror

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Re: Post office money deposit cap
« Reply #21 on: 09 January 2023, 02:05:51 pm »
Quote from: Blossom_midlands on 09 January 2023, 01:49:18 pm
I've literally just paid £1100 into my business account, via post office. No problems at all..

It's fine for business accounts i was told the cap for business accounts is much, much higher. It's personal accounts that are being limited.
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Mirror

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Re: Post office money deposit cap
« Reply #22 on: 09 January 2023, 06:44:04 pm »
Quote from: ana30 on 09 January 2023, 12:13:11 pm
Weird. I just stopped at the post office at my local branch in Central London after reading this thread this morning and asked them about any new restrictions in cash deposits and they said "absolutely not".

 ???

The staff don't actually know they just see cash deposits declined. Staff at the branch I use are unaware because the banks have not told them, and they don't know the limits for the same reason.
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Melo29

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Re: Post office money deposit cap
« Reply #23 on: 28 January 2023, 10:00:56 am »
I'm with NatWest they changed their policies. last time I had to deposit at the counter( machine unfortunately was off) twice 3k in 2months period and they suggested me to get business account they've even looked me strange... Ive told them that I'm not working 12 month a year. I would just keep some in cash have it in a safe secured place far away and waiting. I've never tried post offices before
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Schwiftysquancher91

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Re: Post office money deposit cap
« Reply #24 on: 30 January 2023, 08:27:53 am »
Quote from: Mirror on 09 January 2023, 06:44:04 pm
The staff don't actually know they just see cash deposits declined. Staff at the branch I use are unaware because the banks have not told them, and they don't know the limits for the same reason.

This is true, I even went into the bank itself as I had no choice and even THEY didn't know! The person at the counter had to try and look it up online. It rolls over at the beginning of each new month for my bank and the limit is £3000pm. She said that if I have other accounts like separate savings accounts I could just order cards for each of them as I would have a separate cap on each card so I might just do that instead.
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VoluptuousCurves

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Re: Post office money deposit cap
« Reply #25 on: 30 January 2023, 10:45:58 am »
My Lloyds personal account has now been limited to £2995 per month max pay in at post office. I'm going to switch to using my business account.
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Mirror

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Re: Post office money deposit cap
« Reply #26 on: 30 January 2023, 12:49:58 pm »
Quote from: Schwiftysquancher91 on 30 January 2023, 08:27:53 am
This is true, I even went into the bank itself as I had no choice and even THEY didn't know! The person at the counter had to try and look it up online. It rolls over at the beginning of each new month for my bank and the limit is £3000pm. She said that if I have other accounts like separate savings accounts I could just order cards for each of them as I would have a separate cap on each card so I might just do that instead.

My bank suggested different accounts, ordered new cards, only to find out the cap was a total across all accounts with that bank when I next tried to pay in.
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Schwiftysquancher91

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Re: Post office money deposit cap
« Reply #27 on: 30 January 2023, 12:53:20 pm »
Quote from: Mirror on 30 January 2023, 12:49:58 pm
My bank suggested different accounts, ordered new cards, only to find out the cap was a total across all accounts with that bank when I next tried to pay in.

Oh ffs, thanks for the info. Saves me ordering more cards!
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Mirror

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Re: Post office money deposit cap
« Reply #28 on: 30 January 2023, 02:33:29 pm »
Quote from: Schwiftysquancher91 on 30 January 2023, 12:53:20 pm
Oh ffs, thanks for the info. Saves me ordering more cards!

You could try just in case it's changed, or your bank is different. Huge disappointment and waste of my time.
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Mirror

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Re: Post office money deposit cap
« Reply #29 on: 24 March 2023, 09:58:29 am »
To manage this paid into a different bank bank account at the PO, now that bank has flagged me for using their account for business - I was deposited no more than £1000 per month for 6 months this way. I am appealing the decision, but could lose a current account I have had for several decades. When I first opened the account all those years ago I paid regular cash amounts in I suspect it's the sudden change and likely their terms & conditions have changed. Anyhow I have given a reason for the paying in, and explained the deposits have now stopped (think the last was almost 1 month ago).
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