Paying cash into a business bank account

[StratBee]

In my personal opinion I don't agree with banks charging business customers to deposit cash into their business bank accounts.

I was wondering if, anyone has found a way of getting around this, without switching or opening a new business account?

 

[Blue Steel]

In my openion you can use moneybooker or paypal. You can use these without opening a new business account. these are reliable and 1st funds transfer system.

Wasn't aware you could bank cash through these companies - how?

OP depends on the type of transactions, you could speak to some of your suppliers, smaller ones may be happy to take cash on delivery / collection.

 

[LMDServicesUK]

I would have thought the obvious get round is pay cash into your personal or savings account and then transfer electronically to your Business account.

I know with my Barclays Bus account electronic transfers between accounts are FoC.

Means a little more admin on the accounting side but saves you the fees.

Also when you need to draw cash reverse the process, as I found out recently when taking out some cash, the charges are even worse !

Hope this helps

Mark