Depositing money at bank

Mansize_tissue · 8 Mar 2010 at 19:12

Is there a limit for how much money you can walk into a bank (Halifax, Barclays, whatever) with and deposit? My friend has about £1000 in cash and wants to take it to the bank tomorrow. Will this be ok?

Von Smallhausen · 8 Mar 2010 at 19:13

Should be no problem at all.

Unlight · 8 Mar 2010 at 19:14

As long as it's not in coins, it will be fine.

£1000 is not a lot in the grand scheme of a banks day to day affairs

BlueMhz · 8 Mar 2010 at 19:15

£1000 in cash isn't going to cause any problems.

molemole0 · 8 Mar 2010 at 19:16

Doesn't sound like it would cause a problem

xb8browney · 8 Mar 2010 at 19:18

Never had this problem with Barclays or HSBC

PhillyDee · 8 Mar 2010 at 19:19

Unlight said:
As long as it's not in coins, it will be fine.

£1000 is not a lot in the grand scheme of a banks day to day affairs

Cosimo · 8 Mar 2010 at 19:19

A grand is peanuts, they might ask where you got five grand from.

Unlight · 8 Mar 2010 at 19:20

PhillyDee said:

Didn't even notice that!!

d_brennen · 8 Mar 2010 at 19:20

Take photo ID just in case. I've deposited £14k odd before, but that's through work and I know all the girlies in the bank

D1ngd0ng · 8 Mar 2010 at 19:20

A grand is peanuts, they might ask where you got five grand from.

doubt it, thought the minimum was around double before they start thinking money launderer?

Spinal2k2 · 8 Mar 2010 at 19:20

Unlight said:
As long as it's not in coins, it will be fine.

Just wondering anyone know what is the max that banks would take in coins

Unlight · 8 Mar 2010 at 19:21

Spinal2k2 said:
Just wondering anyone know what is the max that banks would take in coins

I don't think there is a set amount, each branch will be different.

Some will grumble taking £20 worth of coppers, some will allow £100's.

Mansize_tissue · 8 Mar 2010 at 19:27

Cheers guys. I know it's not a lot, but the most him or I have either deposited before is a couple of hundred.

Raumarik · 8 Mar 2010 at 19:38

Unlight said:
I don't think there is a set amount, each branch will be different.

Some will grumble taking £20 worth of coppers, some will allow £100's.

That's more down to staff and the manager being lazy or not having space for it than the company.

Tomsk · 8 Mar 2010 at 19:51

£1,000 is not a problem for a bank.

Our (works) bank, HSBC, don't like it if the notes are bundled into £100 lots with another note folded around them. They prefer the notes just in a simple stack sorted by denomination.

qqg3 · 8 Mar 2010 at 19:53

Make sure to take off the 'securicor' bands

Moredhel · 8 Mar 2010 at 20:09

And try and wash out the dye pack!

Andy90 · 8 Mar 2010 at 20:09

Spinal2k2 said:
Just wondering anyone know what is the max that banks would take in coins

http://en.wikipedia.org/wiki/Legal_tender

Explains "Legal Tender" - i.e the a payment that by law cannot be refused as settlement for a debt and have the debt remain in force.

As for the amount of coins that can be accepted - the article above cites the following:-

British history

In the 19th century, gold coins were legal tender to any amount, silver coins were not legal tender for sums over 2 pounds, nor bronze for sums over 1 shilling.

This provision was retained in revised form at the introduction of decimal currency, and the Coinage Act 1971 laid down that coins denominated above 10 pence became legal tender for payment not exceeding 10 pounds, coins denominated not more than 10 pence became legal tender for payment not exceeding 5 pounds, and bronze coins became legal tender for payment not exceeding 20 pence.

If you offer these coins and do not exceed the above then they cannot be refused as payment. Over that amount they can.

PhillyDee · 9 Mar 2010 at 00:15

Exept at a bank its a deposit, and not a payment