Don’t have a limit for money being deposited into business accounts. I’ve had to stop taking cash from my business because of this no other bank does this
Plenty of business accounts charge for cash.
It’s to prevent money laundering etc. Bank transfers and card payments are better traced.
Understandable but it actually causes more “tax dodgers” as they can’t put the money in the account so they just keep the cash as well. I have to tell my clients I can’t take cash which a lot of my clients do not like. I think at least make the limit higher as my friend has a business account and she can deposit cash whenever she likes and her business is more busy because of this. In the beauty industry a lot of people pay by cash for their treatments.
I’d rather be charged for cash then not be able to deposit it in my account
You’d need to find another bank at the current time. Starling have higher limits, and charge for deposits outside of this.
Move to Starling Bank.
Have you got a card machine
The FCA are proposing to reduce the cash deposit limits at Post Offices, in order to reduce fraud, so they’re unlikely to let Monzo increase their limits at PayPoints.