Apr 24, 2024 -- 4:01PM, Munter 69 wrote:
Got the dreaded letter...:( As you use your account to pay in cash, we wanted to let you know from 1 July 2024, we’re introducing a maximum £20,000 cash limit you can pay into your personal accounts each year. This will restart each January.If you have more than one personal account with us, this means the total amount of cash you can pay in across all of them is £20,000, including any children’s savings accounts.This doesn’t include cash you’ll pay into any business current account you might have.If you run a business but don’t have a separate account for it and need a higher cash deposit limit, search ‘Barclays business banking’ to find out more about our business accounts. It’s important to keep your business and personal accounts separate.Why we’re doing thisThe National Crime Agency estimates that over £35 billion has been laundered in the UK. Introducing our cash deposit limit will help us fight financial crime.For joint accountsAny cash paid into your personal joint account counts towards the yearly cash deposit limit for each account holder.Here’s an example of how the limit would work if you have a joint account and a sole account with us:•