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  1. #1
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    You can't put cash into someone else bank account

    My bank has informed me that no one can pay cash into my bank account, to stop money laundering. As I am a landlord and some of my tenants pay their rent, in cash, into my bank account. This will not be allowed from 2nd April.

    Some tenants do not have bank accounts and by paying over the counter at the bank, they get a receipt and I have records for the tax man.

    One of my tenants, works at a farm and is paid weekly, I organised her council tax, water rates and electricity to be paid weekly at the post office. Which took some time to do.

    Anyone heard of this?





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  3. #2
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    Quote Originally Posted by susanb View Post
    My bank has informed me that no one can pay cash into my bank account, to stop money laundering. As I am a landlord and some of my tenants pay their rent, in cash, into my bank account. This will not be allowed from 2nd April.

    Some tenants do not have bank accounts and by paying over the counter at the bank, they get a receipt and I have records for the tax man.

    One of my tenants, works at a farm and is paid weekly, I organised her council tax, water rates and electricity to be paid weekly at the post office. Which took some time to do.

    Anyone heard of this?
    I did brief over a letter sent from my bank some while ago - but as it did not really affect me much, I took little notice of it. The idea, as always detrimental to the British - is an American one. Supposedly to prevent fraud but in reality to allow Banks to close more branches down to make higher profits. You could try changing your Bank - people paying into other's accounts is discretionary to each bank. The other move is for your customers to pay the money over by electronic transfer, which the banks prefer - but I guess in your case, this would not be an option.

  4. #3
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    Dec 2008
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    Southport, Merseyside.
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    Quote Originally Posted by susanb View Post
    My bank has informed me that no one can pay cash into my bank account, to stop money laundering. As I am a landlord and some of my tenants pay their rent, in cash, into my bank account. This will not be allowed from 2nd April.

    Some tenants do not have bank accounts and by paying over the counter at the bank, they get a receipt and I have records for the tax man.

    One of my tenants, works at a farm and is paid weekly, I organised her council tax, water rates and electricity to be paid weekly at the post office. Which took some time to do.

    Anyone heard of this?

    I did notice something in Barclays the other day when I went in.
    I guess you'll have to collect the cash, and if you want it recording you'll have to pay it in to your account, with some reference details so you can trace it.

    Which is basically what they are trying to get people to do. That way money is traceable.

  5. #4
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    Quote Originally Posted by Ceam View Post
    I did notice something in Barclays the other day when I went in.
    I guess you'll have to collect the cash, and if you want it recording you'll have to pay it in to your account, with some reference details so you can trace it.

    Which is basically what they are trying to get people to do. That way money is traceable.
    And fewer customers use the banks!

  6. #5
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    Unless someone is doing work for the public, there is no reason for anyone not to be paying staff through their bank account - simple enough to do if you have a passport/ID and address. Too many people pay their staff cash so they don’t pay tax, NI, holiday pay, pensions,ssp - so I am all for more of this. It protects all employees and stops some of these people employing illegal immigrants or paying less than the minimum wage, etc. Plus, it ensures they are paying towards public services like the rest of us.

  7. #6
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    Quote Originally Posted by VB123 View Post
    Unless someone is doing work for the public, there is no reason for anyone not to be paying staff through their bank account - simple enough to do if you have a passport/ID and address. Too many people pay their staff cash so they don’t pay tax, NI, holiday pay, pensions,ssp - so I am all for more of this. It protects all employees and stops some of these people employing illegal immigrants or paying less than the minimum wage, etc. Plus, it ensures they are paying towards public services like the rest of us.
    Don't really see how? Would they not give the employees the cash in their hand?

  8. #7
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    Mar 2014
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    Quote Originally Posted by Ceam View Post
    Don't really see how? Would they not give the employees the cash in their hand?
    Not sure which part you are referring to, but if it is the last couple of sentences - it protects all employees as it means it helps get rid of those employers who do not operate proper wage records to avoid paying tax, NI, holiday pay, pensions or the minimum wage/going rate (if you pay wages directly into bank accounts this provides a record for HMRC to check against wage records). They will not be complying with employment rights either and can sack at will, as no evidence of them working there. It also means they arent undercutting competitors due to not paying what they should be. With regard to ensuring they pay towards public services - tax and NI go towards public services - again, not sure which part you were asking about.

    I don't know what you mean by "Would they not give the employees the cash in their hand?" - as I was explaining why there was no reason for employers not to pay employees directly into their bank account - i.e. not cash in their hand.

  9. #8
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    Apr 2009
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    Slightly different but last year I asked the post office if I could have some money bags so that I could count up the money in my daughter's piggy bank and she could pay that money into her account - I was told then that they couldn't do this as it could be classed as money laundering, ie, people would change notes into small change and bank it so it doesn't look suspicious! There's probably less than £20 in there!
    Last edited by bambi275; 24/02/2018 at 08:20 PM.
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  10. #9
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    I have always banked with Barclays but it is so staff less there computers only.I don't like it.
    Devil in disguise,

  11. #10
    Join Date
    Dec 2008
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    Quote Originally Posted by VB123 View Post
    Not sure which part you are referring to, but if it is the last couple of sentences - it protects all employees as it means it helps get rid of those employers who do not operate proper wage records to avoid paying tax, NI, holiday pay, pensions or the minimum wage/going rate (if you pay wages directly into bank accounts this provides a record for HMRC to check against wage records). They will not be complying with employment rights either and can sack at will, as no evidence of them working there. It also means they arent undercutting competitors due to not paying what they should be. With regard to ensuring they pay towards public services - tax and NI go towards public services - again, not sure which part you were asking about.

    I don't know what you mean by "Would they not give the employees the cash in their hand?" - as I was explaining why there was no reason for employers not to pay employees directly into their bank account - i.e. not cash in their hand.

    What I was meaning is that I don't believe it would stop unscrupulous employers as they probably don't pay into any ones bank but rather give them the cash in their hand at the end of the week.
    It would be foolish of them to leave a paper trail of in recorded wages.

  12. #11
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    Mar 2014
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    Quote Originally Posted by Ceam View Post
    What I was meaning is that I don't believe it would stop unscrupulous employers as they probably don't pay into any ones bank but rather give them the cash in their hand at the end of the week.
    It would be foolish of them to leave a paper trail of in recorded wages.
    Yes, but as this shows, the landlord can’t have tenants pay theiir rent into their bank and most landlords won’t want to be going around collecting everyone’s rent, so it will help stop these employers as if people can’t pay rent they will have to find another job or force the employer to pay their wages into their bank.

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