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Mike Flaherty
Admin, Ops, IT & Finance
Banking limits for cash
Gerry Toner Executive Officer at North Ayrshire Cancer Care Posted 1 year ago
Hi, I am the Executive Officer for a Cancer Charity .
We have 6 shops which deal predominantly in cash transactions, therefore we bank a reasonable amount weekly through the Post Office hub into our bank account.
We use the hub as our small towns have no bank offices anymore .
We have , without us knowing anything about this , reached our maximum cash limits that we can credit to the account using the PO hub which apparently is £10k per annum.
We are at our wits end trying to figure out an alternative solution as these limits are set by the FCA .
Has anyone experienced this and is there a solution ?
We already have card readers in each shop but our area is 2nd in the Scottish Govt poverty index and many people still use cash as their means of paying .
Gerry
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