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Author Topic: Post office money deposit cap  (Read 7815 times)

Cgiw

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Re: Post office money deposit cap
« Reply #45 on: 28 May 2023, 10:04:04 am »
Might be a good idea to calculate it as a running 12 month total then. Bit more complicated but still worth it.

Mirror

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Re: Post office money deposit cap
« Reply #46 on: 28 May 2023, 10:18:23 am »
Might be a good idea to calculate it as a running 12 month total then. Bit more complicated but still worth it.

Someone I spoke to who isn't a bank employee did suggest the banks may not want to disclose specifics regards dates etc, particularly if it's a prevention of money laundering - otherwise those who engaging in laundering would simply work the system.

Just supposition.

It is a long time since I paid into my main affected account via PO or ATM, but it continues to be rejected (tried recently). I have paid in over the counter whenever near a bank branch. I am wondering it it is £10k paid in anyway eg once you have paid in 10K even if all is over the counter in a branch, you simply cannot pay in at the PO.

ladyofthemansion

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Re: Post office money deposit cap
« Reply #47 on: 28 May 2023, 01:49:07 pm »
Someone I spoke to who isn't a bank employee did suggest the banks may not want to disclose specifics regards dates etc, particularly if it's a prevention of money laundering - otherwise those who engaging in laundering would simply work the system.

Just supposition.

It is a long time since I paid into my main affected account via PO or ATM, but it continues to be rejected (tried recently). I have paid in over the counter whenever near a bank branch. I am wondering it it is £10k paid in anyway eg once you have paid in 10K even if all is over the counter in a branch, you simply cannot pay in at the PO.


Some banks are like that so it’s best to deposit at post office till it stops letting you.
I'm glad I got all the Cynthia Payne books before the prices rocked to sky high.

KirstyKiss

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Re: Post office money deposit cap
« Reply #48 on: 28 May 2023, 03:11:59 pm »
It doesn’t matter whether you pay in via post office or bank. It’s the annual limit you can pay in, in cash to your account.
Limits vary.
NatWest is 24k
Santander is 10k

I gave two accounts with NatWest and the 24k limit is across BOTH accounts (so I can’t pay in 48k).

You can electronically transfer cash between banks as this doesn’t count towards the annual limits.

You either have to have several personal accounts and do electronic transfers once you’ve reached your pay in limit or open a business account.

Ps. It runs from April to April
« Last Edit: 28 May 2023, 03:26:45 pm by KirstyKiss »

Mirror

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Re: Post office money deposit cap
« Reply #49 on: 28 May 2023, 03:20:55 pm »
It doesn’t matter whether you pay in via post office or bank. It’s the annual limit you can pay in, in cash to your account.
Limits vary.
NatWest is 24k
Santander is 10k

I gave two accounts with NatWest and the 24k limit is across BOTH accounts (so I can’t pay in 48k).

You can electronically transfer cash between banks as this doesn’t count towards the annual limits.

You either have to have several personal accounts and do electronic transfers once you’ve reached your pay in limit or open a business account.

This doesn't match with my experience cash is declined at PO but accepted at the branch, same bank account. Has been like that for best part of 1 year and I've paid in more than the 'limit'.

KirstyKiss

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Re: Post office money deposit cap
« Reply #50 on: 28 May 2023, 03:28:08 pm »
Oh that’s strange, Mirror as not what my bank have told me.

Some banks haven’t introduced limits yet, I believe.

NatWest have made it clear that they won’t accept more than 24k paid in, in cash on a personal account.

Bloody banks!

Mirror

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Re: Post office money deposit cap
« Reply #51 on: 28 May 2023, 03:34:28 pm »
Oh that’s strange, Mirror as not what my bank have told me.

Some banks haven’t introduced limits yet, I believe.

NatWest have made it clear that they won’t accept more than 24k paid in, in cash on a personal account.

Bloody banks!

I have tried to send you a PM but got a message saying my PMs to you are blocked.
« Last Edit: 28 May 2023, 04:32:29 pm by Mirror »

KirstyKiss

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Re: Post office money deposit cap
« Reply #52 on: 28 May 2023, 04:08:57 pm »
I have tried to send you a PM but got a message saying my PMs to you are blocked. I am talking about i one of the ones you've listed.

I’ve messaged you x

Mirror

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Re: Post office money deposit cap
« Reply #53 on: 28 May 2023, 04:11:35 pm »
I’ve messaged you x

Tried to reply but I got a message saying 'User 'KirstyKiss' has blocked your personal message'.
« Last Edit: 28 May 2023, 04:32:01 pm by Mirror »

RB1

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Re: Post office money deposit cap
« Reply #54 on: 28 May 2023, 06:15:34 pm »
Someone I spoke to who isn't a bank employee did suggest the banks may not want to disclose specifics regards dates etc, particularly if it's a prevention of money laundering - otherwise those who engaging in laundering would simply work the system.

Just supposition.

It is a long time since I paid into my main affected account via PO or ATM, but it continues to be rejected (tried recently). I have paid in over the counter whenever near a bank branch. I am wondering it it is £10k paid in anyway eg once you have paid in 10K even if all is over the counter in a branch, you simply cannot pay in at the PO.

« Last Edit: 19 September 2023, 11:25:03 pm by RB1 »

KirstyKiss

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Re: Post office money deposit cap
« Reply #55 on: 29 May 2023, 10:27:52 am »
Tried to reply but I got a message saying 'User 'KirstyKiss' has blocked your personal message'.

I don’t know what’s going on with my messaging system. I’ve checked settings. Reading between the lines I’ll drop into my local bank at some point and ask them directly but I have other bank accounts I can transfer from.
My branch isn’t as local as I’d like.

VoluptuousCurves

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Re: Post office money deposit cap
« Reply #56 on: 09 June 2023, 01:03:57 pm »
Just standard on both. I'm about to send my info to Cashplus in the next couple of days. Fingers crossed.

Update after 2.5 months pissing about - they've closed my account, after asking me for all sorts of crap including my self-assessment returns (which I gave them) They didn't outright ask me if I was a sex worker but it's clear they put me in that bracket.

I'll consider opening a few new accounts with different providers, stay below the radar, and have a more well fleshed out cover story next time. (This time I randomly claimed to be doing massage which was probably stupid but they caught me on the back foot.)
And me, I am not a mess, I am a wilderness, yes
The undiscovered continent for you to undress

Mirror

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Re: Post office money deposit cap
« Reply #57 on: 13 June 2023, 05:55:27 pm »
One bank is writing to anyone who recently used the PO to pay in, announcing anything over £10k for the year can only be paid in in a bank branch. This bank does not have branches in every city - nearest one to me is 2 cities away (90 minute drive each way plus city centre parking if traffic is totally clear). I am not currently using this bank for depositing cash, I had started but they flagged me as using it the personal account for business (technically I wasn't I was only paying in earnings).

Lushblossom

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Re: Post office money deposit cap
« Reply #58 on: 10 July 2023, 12:02:07 pm »
I had a letter last week from my Co Op bank to say anything beyond 10k cash at a post office in a financial year must be paid in at an actual Co Op bank branch..

Mirror

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Re: Post office money deposit cap
« Reply #59 on: 10 July 2023, 12:50:29 pm »
I had a letter last week from my Co Op bank to say anything beyond 10k cash at a post office in a financial year must be paid in at an actual Co Op bank branch..

And those branches are few and far between.