✅ Depositing Cash at the Post Office

My local post office is the same. I understand it’s because they’re run as two separate businesses but at the same counter, so they have to go through separately.

I have to withdraw cash from the post office to then spend in the shop/cafe. All at the same counter with the same member of staff!

This may the case with your PO too.

THIS! 100%!

The problem with some people on this forum is that you can’t critise Monzo without people getting funny with you. Like many, I love Monzo, and so want it to work and be a bank for everyone, yet whenever we talk about bank deposits/withdraws we get questions like;

‘Why do you need cash?’
‘Why do you need to deposit cash?’
‘Why don’t you have an ATM?’
‘If you don’t live in a City, maybe Monzo isn’t for you!’

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Hi can Monzo please make it possible to deposit cash at a Post Office as most banks do this so why cant Monzo? This is the only feature I will miss from my old bank account.

no time line when it will be possible, thier in talks with the post office about that

I think it’s even more unlikely after the PO was contemplating more charges for banking services.

I think this is a must as I went to a paypoint as directed by Monzo and the guys didn’t have a clue about depositing cash and advised me they couldn’t do it and I went to a few more even Co-Op and again non of them knew how to do it and told me this couldn’t be done which was really annoying

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Please enable this!
I have a Starling card that I use to deposit cash and then transfer lol

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I think the post office is great for depositing cash, so convenient and feels more secure than PayPoint. I have a Starling bank account i use for paying in cash at the post office, and have to transfer it to Monzo. I would much rather do that with Monzo - I also don’t agree with paying £1 to deposit cash, all other banks i’ve held accounts with don’t charge for this.

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Thing is, why would Monzo want to stop you doing that? It’s letting Starling bear all the costs.

I mean, I don’t agree with it, but commercially it’s genius, making your competitor do all the heavy lifting.

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Because eventually your going to wake up one day and wonder why you’re using two banks when you can just use one that supports all your needs.

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I think most people on the forums have more than 1 bank account, especially those who have packaged accounts elsewhere. So it’s pretty common to take the features you want from various places

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That’s very true, same could be said for Cheque Imaging & lots of other convenience features other banks have though, but i guess like @Eden said, one day you will realise another bank could have more convenience. I think in particular, when Monzo launches it’s Business Account fully, they would be mad not to have Post Office cash/cheque depositing services. If i was Monzo, i wouldn’t want my customers at all thinking they need to open/maintain a bank account elsewhere because of services i can’t or don’t offer that they need/want.

Sure. Presumably that’s the risk assessment that Monzo has done. The decision not to support certain functions isn’t made in isolation, it’s a trade off with other features of the app, and what the opposition is bringing to the market.

As @j06 says, it’s a calculated trade-off they’ve made. Someone who frequently pays in cash or cheques may indeed find another account more convenient, but I imagine the majority of banking customers are not doing much of either of these things these days. On the flip side, the convenience of bill-pay pots and instant notifications are likely to have a much higher value as they address things people are doing regularly and frequently.

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Completely agree. Coincidentally, a colleague and a friend both switched to Monzo quite a bit before me; one of them went to a local PayPoint location and they said they couldn’t take cash deposits/didn’t know how, and another didn’t want to pay the £1 charge so twice now they asked me if they could give me the cash and i could transfer it to their account :joy:.

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Be careful. Depending on the amounts you’re depositing, paying–in cash and then immediately transferring to another account not in your name could trigger an anti–money laundering block on your account.

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What’s the maximum with Starling and what MCC does it use?

I never deposited it, i kept the cash, but i know what you mean! I’ve seen all-sorts in my profession (Accountant). :+1:

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Cash deposit limit at PO? I’m not sure there is one. I deposit business takings at Post Office, and have deposited up to £10k before now in one transaction. I don’t think Starling impose a limit, but i know they charge £3 for up to £1000 for business account deposits and then a percentage after. Free for personal and Joint accounts though i believe.

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Ah it has to be cash, you can’t fund with debit or CC? Cash is also good but that would be convenient without a limit too.