Paying cash into the account


#22

Yes but how much do they charge for a monthly fee for their accounts. When I enquired with Handlesbanken, they were talking £40 per month fees! For that I’d want a chauffeur collecting my cheques from home!

I very much got that they felt they were for the high net worth customer only. Shame though, they never asked me what I wanted to invest, but were very sniffy. I had a reasonable amount to invest but they never took the time or interest to find out, so I banked elsewhere for a lot less.

But Monzo has sparked my interest so far and seems fresh and very sensible.


#23

Don’t both Saintsbury’s and Tesco both have their own banking arms? Tesco for sure do their own brand bank accounts, so I don’t see any upside to them to assist Monzo.

Morrison’s don’t have many branches in the south so not really nationwide. Asda not bad all round north/south. Co Op are okay, but again have their own current accounts. Also Aldi/Lidl are so manically busy with so few staff that waiting times would be crazy. John Lewis/Waitrose probably wouldn’t want to get tied into helping with this, and can be a bit spread out.

I don’t know how Scotland and Wales fair with supermarkets and coverage. So it always comes back to the Post Office and/or Paypoint. Could Monzo offer both as a choice if costs were reasonable?


(Zain Jetha) #24

Slowly but surely - we are moving to a cashless society. But then again, it’s not all that slow, it’s happening daily, and quickly at that.

I will more than likely be closing my MetroBank Account down in the future, but then again it costs me nothing to keep it open, and it is so easy to pop cash/cheques in.

But then again, whatever birthday money I’m given, I could always give to a family member to bank and transfer to me.

With plastic money coming in soon, they are talking of not upgrading the £50 note, this in itself is a massive achievement!


#25

not sure as both Drummonds and Handelsbanken negotiated individualized tariffs so assume their set charges are a guideline your branch manager or account manager can vary.


#26

that certainly seemed to be the case before the global economic/financial crisis, but that global crisis set back the march to a cashless society in particular in the lower paid strata of society where there has been an increase in cash use.


(Simon B) #27

A post was merged into an existing topic: Paying in cash to Monzo account


(William Brown) #28

Maybe Asda as they don’t do anything like that just yet and Tesco do it with there Tesco bank savings and current account so either one or even both or more would work


(William Brown) #29

I use post office for my virgin Money accounts and it’s been instant deposit and available right away but that depends on the set up the bank has with post office I remember alliance and Leicester they had pay in slips and it took time but others didn’t and just used the card so it was instant


(William Brown) #30

Paying in cash at post office can be instant or not depends on banking arrangement on place between post office and banking provider I use post office for my virgin money current accounts it’s instant deposits available to spend right away