Deposit Cash with PayPoint

Hey All,

I use Monzo as my main spending account but I’ve not gone FULL Monzo because 1. I want to utilise First Directs high interest savings account (5%) and I also want somewhere to be able to deposit cash.

So I’ve got about £300 from selling some stuff recently and I’ve been meaning to head to town to pay it in. Paypoint has been around for a while but I saw that I’d be charged £1 so thought fuck that, that’s almost the price of a bag skittles! I’ll just go to HSBC and deposit it there and get myself some sweets… However, I thought I might just check where these Paypoint places are and was interested to see how it works.

So it turns out the shop across the road is a Paypoint… there is one in pretty much every small shop around where I live… instead of driving into town, paying for parking, walking into town to the bank and paying it in… I could’ve paid it in when I picked up milk yesterday and the cost of parking would’ve been £3…

So I’m almost full Monzo… with FD I’m getting an extra £100 a year for just putting money away so as soon as Monzo have something like that I can finally go full Monzo!

Now off to get rid of this cash!

3 Likes

You’ll be interested to know that a high % on your balance is something Monzo are thinking about for Monzo Plus

Snap!

https://www.reddit.com/r/monzo/comments/bnb79u/deposit_cash_with_paypoint/

1 Like

Failed to pay money in this morning. The guys internet wasn’t working.

More interesting though was his response to “do you get lots of these cards?”

Shopkeeper, “yes, of late. We dont like them. We get PayPoint calling us all the time asking if we know the person - of course we don’t!” “We get lots of fake notes”

He looked very disappointed when I first presented my card.