Always remember anyone can post on the MSE forums, so it can be very different from our opinion. The building society says that third parties can continue to pay in cheques. You can easily transfer money into a friend’s or relative’s account through a service such as Venmo, PayPal or Square Cash. Even if your PayPal is empty, PayPal will be able to draw payments from your bank. If you have the Whilst working on a clients accounts and reconciling the net wages account I have noticed that a new employee has instructed our client to pay his wage into his another persons bank account (girlfriend) and this was done last month. You can get the money paid into any bank, building society or credit union account, apart from a Nationwide cashbuilder account (sort code 070030) in someone else’s name. If the cheque has AC PAYEE ONLY printed on the front it can be difficult with some banks. Deposit cash at the bank The most basic way to move money into someone else's account is to walk into the bank and tell the teller you'd like to deposit cash. Which? You can do a bank TRANSFER by phone or internet, if it's secure. With the current postal issues they asked if I knew whether it was possible without having to send the cheque back and have it reissued. The move has caused confusion for many, including grandparents trying to deposit gifts into children’s savings accounts and renters making payments to their landlords. When did it become an issue for someone to pay money into an account if it’s not their account — Amy (@amwest1987) April 16, 2018 The new rules mean grandparents are being turned away from paying cash into children’s savings accounts, including Junior Isas. The following are the facilities available through an ATM: * Cash withdrawal * PIN change * Mini statement upto last ten entries Whether it’s a one-off payment or regular monthly income, money can be sent directly to your account. var pymParent = new pym.Parent('which-signup', 'https://www.which.co.uk/static/tools/new-reviews/money-signup/money-signup-rhythmyx.html', {}); You might find it bizarre that banks would have a problem with someone paying money into your account – but the move is part of the banks’ larger obligation duty to combat financial crimes, such as money laundering. The new rules mean grandparents are being turned away from paying cash into children’s savings accounts, including Junior Isas. Barclays has also changed the way third parties can deposit cash. I need too pay someone some money from my bank account into there's how do I do that Just to let you know, this thread is 6 years old so I’m not sure anyone would get back to you! You can easily transfer money into a friend’s or relative’s account through a service such as Venmo, PayPal or Square Cash. Assuming you know the account number, address, and other personal identifying information, it is possible. TSB said it carefully reviews when someone is paying money into another person’s account and examines this on a case-by-case basis to undertake due diligence. contacted other major banks with a high street presence to check their rules on cash deposits from third parties. I did TransferWise in the past but it so happens that I will have a 13h lay-over in London next week so instead of paying the transfer fee I would like to deposit cash at a branch. This isn’t just paranoid thinking on behalf banks: Cifas reported there were 8,652 cases of young people aged 18-24 being targeted to help move cash as ‘money mules’ between January and September last year. I do not have an account in the UK but I need to transfer some money to a Lloyds’ client. The situation is a cheque has been made out to someone without a bank account. Whether it’s a one-off payment or regular monthly income, money can be sent directly to your account. Paying … I know when I go to the bank I can deposit money in my mama's account by having her name, date of birth, and current address. Up until 1992, there was no reason why a person could not hand over a cheque, made payable to themselves, to someone else for them to pay into their own bank account. By continuing to browse you consent to our use of cookies. Tesco Bank, which allows customers to pay in cash at selected stores, told Which? I want to send money from my paypal account to another persons bank account. If you want to deposit cash into another person's account, follow the steps for making a check deposit. They usually pay into a cheque but I asked for the money to be paid into my account. Since cash transactions are hard to trace, be extra sure to get a receipt for any cash deposits. Now he has received a letter from the HMRC confirming that they owe me money and the amount will sent by cheque. You CAN deposit into someone else's account in person. They would like to pay it into their daughter's bank account. Discover what a basic bank account is and how they compare to other types of bank accounts. Lloyds Bank, Halifax and Bank of Scotland will also accept both cash and cheque deposits from third parties as long as they are able to provide a valid sort code and account number to credit. You cannot deposit cash into any account including your account through an automated teller machine. Yes, in some Lodgement ATMs (LATMs) you can put money into another person’s Bank of Ireland current account. familiarise yourself with the latest version. Why banks won't let you pay cash into your own account e-mail Some links in this article may be affiliate links. But if you pay a CHEQUE or CASH in some banks charge you for paying it into a different bank (i.e. To deposit cash or a check in someone else's account in person, visit a branch of the recipient's bank and complete a deposit slip. Santander says if a customer who is not named on the account asks to pay money into that account, staff will discuss alternative ways of completing the transaction. If you have cheques to pay into your account, you don’t need to come into a branch – you can do this easily using the HSBC UK Mobile Banking app. However, some customers have taken to Twitter to vent their frustration at the change. Is there a way he can do this even though it's We’ve also seen reports that renters who normally pay cash into their landlord’s account have been turned away. My dad is happy to pay the cheque into my my bank account. Probably the best the OP can do is pay in the cheque on the friend's behalf (as described in Ben Millwood's answer) and then either lend the friend some money until they are mobile and can get some cash to repay the OP (or have the friend write one of their own cheques which the OP can pay into their bank account). You can even deposit money into someone else’s bank account if you wish. Some people, however, prefer to have money in their own PayPal account. Putting money into your PayPal account, Log in and click “Transfer Money” on your account. No. Paying cash directly into someone's bank, in branch Reply Reply Author Discussion Wing Commander Original Poster 2,099 posts 193 months Monday 26th August 2013 So, can this be done? Yes you can - although there are some rules. Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News. Royal Bank of Scotland (RBS), NatWest, HSBC and TSB told us that they still accept third-party credits into savings and current accounts, and had no plans to change this policy. Go to a bank, complete a deposit slip, and provide the cash to the teller. You simply had to write the name of the person on the back of the cheque and that was it … Some branches have machines you can use for this Nationwide and Santander both say they have introduced the ban on cash deposits in order to crackdown on money laundering and track cash more closely. You'll need the recipient's … Money: ‘From 2 April 2018, to address a risk of money laundering, we stopped receiving cash deposits into personal banking and savings accounts unless the person making the cash deposit is named on the account.’. The basic information you need to deposit money into a third-party bank account is: Payee’s name Bank, building society or credit union (though this isn All someone needs to pay you is your sort code and account number – or just your mobile number to pay you with Pingit. Editor, Marcus Herbert. You can make a deposit in someone else's bank account the same as you would in your own, as long as you provide relevant information about the recipient's account. We often link to other websites, but we can't be responsible for their content. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. You can pay cash and cheques into your bank account over the counter at your local branch. Find out what is necessary to do for that specific bank branch to put money in someone's account. To deposit money into someone else's bank account, you can send a money order for amounts under $1,000, or a cashier's check for larger amounts. company). There will be paying-in slips available, fill one out and hand it over with your cash. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. In the meantime I made the decision of moving abroad, so I called the HMRC and left a "care of" address at a friend's of mine. Is it possible to pay-in money to someone else’s account at Lloyds Bank? Something to think about before posting in future. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. Non-customers will need a printed paying-in slip from the recipient’s account. You can pay cash and cheques into your bank account over the counter at your local branch. Nationwide and Santander both say they advertised the changes to their policies in branches so that customers had advance notice. You'll get a receipt. takes a look at why cash is being banned, whether other major high street names accept third-party credits and what to do if you need to deposit money into someone else’s account with these restrictions. I’d encourage you to You can … Money: ‘Our Instant Access Savings Account and Current Account allow electronic payments from third parties, but not cash payments.’. We sold some possessions for cash and have around £15,000 to pay into our accounts. You need their sort code, account number and account name. How do I transfer money to someone else's bank account? Then you can transfer money through the bank account linked to your account to your PayPal account. That's free. With Paysend you can transfer money from credit cards directly to a bank account. He's with NatWest and I'm with Lloyds TSB. An account holder who has mental capacity can authorise someone else to have access to their account. Existing Nationwide members can pay money into their own account and transfer this to another, which can be done in branch or online. If you click on them we may earn a small commission. A Santander spokesperson told Which? Compare the best business credit cards of 2021 Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. MARTIN LEWIS WARNS OF A TAX TRAP THAT COULD COST YOU £10,000s OFF YOUR PENSION, HMRC TO WAIVE MARCH LATE PAYMENT FEES FOR SELF-ASSESSMENT TAXPAYERS - BUT INTEREST WILL STILL BE CHARGED, EDF, E.ON, NPOWER AND SCOTTISH POWER TO HIKE BILLS FOR MILLIONS BY ALMOST £100/YR AFTER ENERGY PRICE CAP RISE. If … Some branches have machines you can use for this as well. Customers of Nationwide have been subject to the ban on third-party credits since 12 March 2018, while Santander closed this option just last month. This article has been updated to include information on Barclays, How to track down a will when a loved one passes away suddenly. Zelle is also a good option to move money into someone else’s … This is also called making a 3rd Party lodgement. Quick question on behalf of someone - is it still possible to endorse/countersign a cheque and have it paid into someone else's account? One Nationwide customer tweeted her frustration last week: Please explain how customers and society are protected by not allowing grandparents to pay cash into children’s accounts? You can electronically deposit money into another person's bank account by transferring money from your account, Western Union or your PayPal account. I checked the earlier message of the same title ( late 2013 ) and hoped that by now that it is possible .. Just fill in a paying-in form and give it to the cashier along with the cheque or cash. Online Banking; The Barclays app; Pingit; In branch – deposit cash or cheques; Cash machines – deposit cash or cheques Taking the cheque to a "We Cash Cheques" shop isn't viable as … This may be for convenience or because of the account holder’s long periods of travel or physical disabilities. Q. Read on for more information Make a Bank Transfer Most banks allow online banking customers to make online transfers between bank accounts, even if the account belongs to someone with a different financial institution. Here’s how it’s done: Credit cards became a more popular payment method than cash in the UK for the first time in 2019, thanks to the speed and simplicity they bring to in-store and online payments. If you have cash or a cheque to pay into your bank account, you can: Visit your nearest branch, you’ll find our current opening hours using our branch locator Visit your nearest Post Office, where you can deposit cheques and cash into your account., where you can deposit cheques and cash into your account. In the meantime I made the decision of moving abroad, so I called the HMRC and left a "care of" address at a friend's of mine. All someone needs to pay you is your sort code and account number – or just your mobile number to pay you with Pingit. We use cookies to allow us and selected partners to improve your experience and our advertising. Just write PAY MR If it does not, then endorsing the back of the cheque to pay into someone else's account is simple and easy. Most banks have fraud-prevention measures that won't allow a direct deposit into an account bearing a different name. The only account he has is a basic Post Office one and they said they will not accept the cheque totally nearly £9000. Walk into any branch of their bank with the account number and sort code. They would like to pay it into their daughter's bank account. If you decide to enter someone else's account information anyway, chances are the bank will reject the IRS's direct-deposit request because the name on the refund (yours) doesn't match the account holder's. For example, TD Bank will allow someone else to deposit your paycheck into your account but points out that the bank doesn't recommend sharing your account information with anyone. They usually pay into a cheque but I asked for the money to be paid into my account. What does post office have to do with a BANK. A bank transfer is when money is sent from one bank account to another. @AskNationwide discussed how my partner was spoken to at your Colchester branch… When did it become an issue for someone to pay money into an account if it’s not their account. Can you buy Premium Bonds for someone else? There will be paying-in slips available, fill one out and hand it over with your cash. If you don’t bank with Nationwide, you will be able to make a transfer from your bank’s branch or through online banking. Whether it’s to pay back a friend or family member, split utilities with a roommate, or maybe even make a payment to an overseas supplier, chances are there will come a time that you need to transfer money into someone else’s bank account. We have held current accounts with HSBC, Barclays and Lloyds for more than 30 years. Solved: What details do I give someone who wants to pay money into my paypal account ?