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  • Mortgages & Finance

    What a world we live in - daft bank rules!

    What sort of country have we become when I cant pay cash into my wifes Bank Accoutt we are both with Nationwide and I some times go to the branch to pay some cash into sharons account the Branch has done it for years but today I was told due to reguations I can not put cash in anyone elses account they said it was due to money laundering rules.

    I cant even use her card to put cash in her account it has to be sharon and sharon only This world has flipped what utter nonsence the Minority who do things wrong effect the majoritys way of life its totaly unfair by the way it was £90 not a huge sume for money laundering is it

    It was going to be a little surprise for her

    This country is becoming unbearable

    So there you have it Guys and Girls you can not put cash in anyone else's account

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    The DM is simply WRONG about Barclays.

    With an appropriate new style ATM I can deposit as a 3rd party any amount of cash to a 3rd party account at a Barclays branch.

    It is very easy to feed cash into 3rd party accounts.

    Do it all the time .

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    Not exactly correct.

    I have researched the issue.

    Not every bank is the same.

    But as you have cited Nwide then you are totally correct as you would be for Santander but NOT for First Direct or HSBC.

    However with Nwide and Santander if you have access to the card and PIN then as a 3rd party you can credit cash because you are magically transformed into the account holder.

    I work that system thoroughly!!!

    I am all sorts of people.

    Crediting cash at a Post Office is another way to beat the system.

    But you are correct that it is not easy to credit cash like previously.

    Not a problem

    DYOR it is easy.

    I can walk into any Barclays as a 3rd party and input the ac details and credit cash as a 3rd party to their new ATM no questions asked!

    Nwide is choosing to adopt a more rigorous approach but it is not required.

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    You can pay the money in if the account is linked to yours, so that may be an option.

    Parents do this sort of thing with childrens accounts quite often.

    Joint account perhaps?

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    you can do a transfer that's allowed

    but you cant go into the branch with cash and put it in anyone's else's account but your own

    its the cash they don't like

    The world has gone mad

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Thank you Paul

    the problem I have is the banks you have listed are not on our high st

    I have lodged a complaint with Nationwide Online and I know they will come back with rubbish

    Just the UK we live in

    sad

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    Yep I appreciate as a general principle this 3rd party thing is a pain.

    But you just have to adapt as per one of your favourite sayings!!!

    Perhaps check out all the branches near you to ascertain their policies and then consider opening accounts with those.

    Once the cash is in then it may be fast paid to whoever even a Nwide ac belonging to the 3rd party!

    It is easy to beat the financial system legally

    Been doing it for 40 years now.

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    We will just open a joint account and it will cost them because it wont be used much

    Its a sad day when you cant leave a surprise in your wife's account because I may be laundering money

    again no Commonsence

    the truth is its a tactic to make customers go on line

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Governments want to make it a cashless society. That way they can control the system and catch out those thousands who collect cash and do not declare it for tax.  Its thats simple. Still its going to be a very long time before we go cashless but one day it will come.

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    In my opinion this is a side show / propaganda from the government and banks.

    Think about the bigger picture its about control on a mass scale, not tax evasion. The amount of cash in circulation is miniscule and not of significance and evasion a very small percentage of the total. If the use of cash is outlawed then the loss of individual freedom has begun. The government and the banks while cash is used cannot control your decision making, if they were to proceed at some point on to negative interest rates we would effectively pay the bank to loan them money and in cashless society (they could do this on mass) and you could not do anything about it. Who in the right mind would do that normally, most would withdraw and go elsewhere (freedom of choice) for this reason they cannot significantly implement negative interest rates with a cash society.

    If there is no cash you could not withdraw it out of the banking system. If this cashless direction continues they will have us all by the short and curlies. As soon as it is a cashless society interest rates will plummet into negative territory and the real inflation will be 3-5%, the government will attempt to inflate away its unserviceable debt, banks will be able to control your money on mass and hence control you, what would you do if the bank limited your withdrawals or transfers ? and if you think it can't happen it has in the last few years in both Grease and Cyprus 2 countries right on our doorstep one in the European Union.

    Its about control that's it, the rest is blarney.

    If you think about the younger generation they live through their phone, pay bills with it, buy coffee with it etc etc rarely carry cash as its hassle and not the technology they have grown up with.

    Its coming quicker than you think by each new adoption of technology the removes the use of cash.

    It scares me to death where we are heading, I am not a technophobe I think the technology is great but it the plan has been set and the government and banks play the long game and we are falling right into their trap.

    If you think this seems an extreme view, I hope I am wrong but actions speak louder than words and all the government actions I have witnessed so far have laid the path and we are walking down it blindly.

    Rant done enjoy your evenings.           

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