What is with the very low cash limit? I’m basically stuck in with my Starling business account for one reason and one reason only, the extremely low limit on how much cash you can deposit. My business is in the entertainment industry, providing entertainment to the hospitality sector, the majority of which pay cash. I do a weekend of singing, DJing, Karaoke and take my cash payments. Each Monday I have to bank it all, take out what is required to build up an income tax fund and pay any agencies that need paying, as well as for repairs of equipment or new equipment. Why are the limits so low? Over the Christmas period I would hit my 6 month limit in just one night. If Starling can do it why can’t Monzo?
I’m really keen to move over, I have a business account for this but I can’t currently use it. Are there plans to change this? If so, when? If not, why not?