Discussion
With Santanders announcement of a swathe of bank closures it seems we’ll be seeing more of these banking hubs.
Not sure if I’m missing something?
They say that as there is still need for cash then hubs will be set up. The one time I tried to use a hub they told me that cash withdrawals were subject to the same daily limits as ATMs.
So what exactly is the point of a hub if an ATM can serve the same purpose. Is it just for deposits?
Not sure if I’m missing something?
They say that as there is still need for cash then hubs will be set up. The one time I tried to use a hub they told me that cash withdrawals were subject to the same daily limits as ATMs.
So what exactly is the point of a hub if an ATM can serve the same purpose. Is it just for deposits?
Well, one near us has 5 different banks each having a day of their advisor their for face-to-face business.
So a shared facility at which you get a one in five chance of getting your banker!
Beyond that, they offer regular things: “Transactions available at the counter
Counter services:
Withdraw cash (notes and coin)
Deposit cash (notes and coin)
Deposit cheques
Pay utility bills
Check account balance
Collect change (registered business customers)”
So a shared facility at which you get a one in five chance of getting your banker!
Beyond that, they offer regular things: “Transactions available at the counter
Counter services:
Withdraw cash (notes and coin)
Deposit cash (notes and coin)
Deposit cheques
Pay utility bills
Check account balance
Collect change (registered business customers)”
All the branch closures I keep seeing say 'use the post office' for deposits/withdrawals, as the half-arse efforts they make to set up replacement 'drop-in centres' in nearby libraries or similar are usually just a bod with a tablet - which is f
k all use to anyone actually using cash.
k all use to anyone actually using cash.
RSTurboPaul said:
All the branch closures I keep seeing say 'use the post office' for deposits/withdrawals, as the half-arse efforts they make to set up replacement 'drop-in centres' in nearby libraries or similar are usually just a bod with a tablet - which is fk all use to anyone actually using cash.
The Post Office is withdrawing this facility in July 2025. I got a letter from Barclays yesterday stating this. My nearest branch is 8 miles away. Even more of a problem depositing cheques after July.k all use to anyone actually using cash.R.
The Leaper said:
RSTurboPaul said:
All the branch closures I keep seeing say 'use the post office' for deposits/withdrawals, as the half-arse efforts they make to set up replacement 'drop-in centres' in nearby libraries or similar are usually just a bod with a tablet - which is fk all use to anyone actually using cash.
The Post Office is withdrawing this facility in July 2025. I got a letter from Barclays yesterday stating this. My nearest branch is 8 miles away. Even more of a problem depositing cheques after July.k all use to anyone actually using cash.R.
.
Vasco said:
Most ATMs take cheque deposits.
.
We have a major contractor at work that still insists on sending us cheques, I used to use HSBC's ATM's for this, they were a pain to line up the paying in slip etc but ok, then one day on a rejection only the cheque came back out! So a lucky escape and now I see the teller to bank it as I'm not sure how quickly a swallowed cheque situation would be resolved!?.
Vasco said:
The Leaper said:
RSTurboPaul said:
All the branch closures I keep seeing say 'use the post office' for deposits/withdrawals, as the half-arse efforts they make to set up replacement 'drop-in centres' in nearby libraries or similar are usually just a bod with a tablet - which is fk all use to anyone actually using cash.
The Post Office is withdrawing this facility in July 2025. I got a letter from Barclays yesterday stating this. My nearest branch is 8 miles away. Even more of a problem depositing cheques after July.k all use to anyone actually using cash.R.
.
RSTurboPaul said:
Vasco said:
The Leaper said:
RSTurboPaul said:
All the branch closures I keep seeing say 'use the post office' for deposits/withdrawals, as the half-arse efforts they make to set up replacement 'drop-in centres' in nearby libraries or similar are usually just a bod with a tablet - which is fk all use to anyone actually using cash.
The Post Office is withdrawing this facility in July 2025. I got a letter from Barclays yesterday stating this. My nearest branch is 8 miles away. Even more of a problem depositing cheques after July.k all use to anyone actually using cash.R.
.
.
RizzoTheRat said:
Vasco said:
Most ATMs take cheque deposits.
.
So do most* banking apps without even having to leave your house. Dunno about for business accounts though.
* Santander, HSBC and Lloyds certainly do, I'd assume most others as well.
Barclays, Monzo & Starling certainly do.
Can’t see it in Chase…
mikeiow said:
My Santander banking app certainly doesn’t allow any cheque deposits. Does yours??
I haven't actually tried it in about 10 years, but the option is there under "Pay and transfer". Says it's limited to £1000/day so probably fine for most individuals but maybe not small businesses.The Leaper said:
Unfortunately, banking apps do not process any cheques denominated in a non £ currency, eg USA $. I have to take these to a bank branch. I'm not even sure if such cheques will be processed at a banking hub.
R.
Correction: Barclays no longer process any cheques that are not denominated in UK £. They will not even process a bank transfer from another country in that county's currency. The transfer is acceptable only if it is in UK £.R.
R.
The Leaper said:
The Post Office is withdrawing this facility in July 2025. I got a letter from Barclays yesterday stating this. My nearest branch is 8 miles away. Even more of a problem depositing cheques after July.
R.
Just to clarify, the letter was about a particular Banking Hub closing?R.
I thought that every Post Office branch could provide basic 'Everyday Banking' services for individuals and businesses? Apparently, there's an agreement with the banks which lasts until the end of 2025: https://corporate.postoffice.co.uk/en/blogs/2022_0...
C69 said:
Just to clarify, the letter was about a particular Banking Hub closing?
I thought that every Post Office branch could provide basic 'Everyday Banking' services for individuals and businesses? Apparently, there's an agreement with the banks which lasts until the end of 2025: https://corporate.postoffice.co.uk/en/blogs/2022_0...
It was a letter from Barclays amending various banking facilities in general, and it mentioned that the Post Office facility was being withdrawn in July, on 24th I think, and sets out ways to bank cheques, pay in cash etc after that date.I thought that every Post Office branch could provide basic 'Everyday Banking' services for individuals and businesses? Apparently, there's an agreement with the banks which lasts until the end of 2025: https://corporate.postoffice.co.uk/en/blogs/2022_0...
This will affect all banks, of course.
R.
The Leaper said:
C69 said:
Just to clarify, the letter was about a particular Banking Hub closing?
I thought that every Post Office branch could provide basic 'Everyday Banking' services for individuals and businesses? Apparently, there's an agreement with the banks which lasts until the end of 2025: https://corporate.postoffice.co.uk/en/blogs/2022_0...
It was a letter from Barclays amending various banking facilities in general, and it mentioned that the Post Office facility was being withdrawn in July, on 24th I think, and sets out ways to bank cheques, pay in cash etc after that date.I thought that every Post Office branch could provide basic 'Everyday Banking' services for individuals and businesses? Apparently, there's an agreement with the banks which lasts until the end of 2025: https://corporate.postoffice.co.uk/en/blogs/2022_0...
This will affect all banks, of course.
R.
Presumably the (few) remaining branches will be the only option?
My Tin Foil Hat wonders if this withdrawal of the ability to pay in cash ties in somewhat with EU plans to launch a CBDC by October 2025 (IIRC).
RSTurboPaul said:
May I ask what other options the letter suggested for paying in cash now, if the branch is closing and the Post Office option will no longer be a thing?
Presumably the (few) remaining branches will be the only option?
My Tin Foil Hat wonders if this withdrawal of the ability to pay in cash ties in somewhat with EU plans to launch a CBDC by October 2025 (IIRC).
Cash was certainly king last week when all the terminals in my local supermarket went down. A member of staff was posted at the door warning people the store was cash only until they got it fixed. It actually felt quite nice and 'retro' handing over cash, Dunkirk spirit and all that.Presumably the (few) remaining branches will be the only option?
My Tin Foil Hat wonders if this withdrawal of the ability to pay in cash ties in somewhat with EU plans to launch a CBDC by October 2025 (IIRC).
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