Best business bank account for cash deposits
Best business bank account for cash deposits
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colinrob

Original Poster:

1,199 posts

268 months

Saturday 27th March 2021
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Looking to change my banking, currently bank with Santader and Barclays but they both charge 0.7% for banking cash, I bank between £10-£20,000 a week so my monthly charges are quite high, still want to be able to deposit in the Post office. Anyone any advice on the best and cheapest bank, as trying to find cash deposit charges online is not easy

megaphone

11,260 posts

268 months

Saturday 27th March 2021
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Have a look at Starling Bank. No branches but they use the PO for deposits. Are these rates competitive?

We will charge you the following fees to deposit money into your account using the Post Office counter service:
Deposits of up to £1000: £3, and:
Deposits of £1000 and above: 0.3% of the amount deposited.

https://www.starlingbank.com/our-fees-rates-and-ch...

colinrob

Original Poster:

1,199 posts

268 months

Saturday 27th March 2021
quotequote all
Looked at starling but still 0.3% hoping to find a fixed price one

Spidersleg

708 posts

100 months

Sunday 28th March 2021
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Can't you open a personal account and put the cash in there, then online transfer to business account? Then only the charge of the transfer, 20p or similar.

colinrob

Original Poster:

1,199 posts

268 months

Sunday 28th March 2021
quotequote all
fesuvious said:
I wouldn't fancy having HMRC ask to go through everything. I also would not fancy having the bank report your suspicious activity.

OP : 0.3% is a fixed amount ;-)
You are right i dont fancy HMRC asking to go through everything, when a said fixed amount, i meant like electronic transactions always cost the same mo matter what value, with cash if i deposit £1000 it cost me £3 but £10,000 £30 so to me it is not a fixed amount, i know what it will cost me but is varies depending on how much I deposit