People who bank with Halifax need to be aware of a certain cash rule that applies to every customer. When depositing money into the bank, there is a limit that people cannot go beyond, with different rules applying to cash and cheques.
With banks often having limited staff and resources, self-serve options have made some tasks easier to complete. One such way is for customers to deposit cash directly into their accounts using ATM-style machines at branches that count and collect notes without needing to queue up for an assistant to help.
In branches across the country, these self-service machines have a strict limit of £2,995 on the maximum deposit amount. Account holders can get around this restriction by going to the bank counter, where staff can handle larger cash amounts.
People should double-check that the amount of cash they want to deposit fits into the ‘rules’, as there are some other methods, all with slightly different rules.
Different rules may apply to other banks. If you need further help, visiting a Nationwide branch may be advisable. There are currently 605 branches in the UK.
All of these cash deposit methods are listed online and include:
- At PayPoint stores: Using the app, customers can pay in up to £300 once a day. If using a debit card, people can pay in up to £300 per transaction. Visit PayPoint to find the nearest location for you.
- At a Post Office: Halifax customers can pay in up to £2,995 in a single deposit at their local Post Office. You can locate your nearest branch on the Post Office’s website here.
Banking Hubs are options for people who do not live close to a physical branch of their chosen bank provider. These are shared banking spaces in local communities where people can do their everyday banking.
The Halifax website explained: “They’re owned by Cash Access UK and run by the Post Office®. Banking Hubs are open Monday to Friday, 9am to 5pm. There’s a full list of Banking Hub locations on the Cash Access UK website.”
One day a week, Halifax might also have a Community Banker in a hub near you. They can help with banking services and account support, with details about finding your nearest available here.
Most banking branches have these cash restrictions in places, such as Lloyds, Nationwide, NatWest, and Ulster Bank to name a few. Banks put these in place to protect customers from fraud and to comply with anti-money laundering (AML) regulations.
These limits manage risk by flagging, auditing, and investigating large or frequent cash transactions.
How can I protect myself when paying in money?
A Halifax spokesperson said: “When using your phone, be aware that criminals may stand close behind you to get your passwords. Always keep your phone and card in a safe place and don’t share devices.”
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