How do you pay cash into your Tide account?
Hi @Auston27, we do not support cash just yet. However, we’re working to introduce this soon. As a workaround, you need to deposit the cash into another bank account and transfer it over to your Tide account. If you have any other questions, do get in touch. I’d be happy to help.
Hi, thanks for that.
How does that sit with money laundering laws i wonder ??
You are perfectly entitled to deposit money in one account and move it to another of your accounts. Also money laundering not specifically related to cash but includes cheques, the proceeds of an insurance claim or property sale, etc.
Not sure that would be the case for a LTD company.
Yes it would. The accounts are in the same name, your book keeping shows a transfer between the accounts. Any auditor would find that acceptable. I have been a director of a ltd co registered at companies house and a ltd co registered under friendly society regs, and intra account transfers within a company are perfectly acceptable. Also having been a money laundering officer at a financial institution I can say that there were no rules preventing it, save of course usual record keeping requirements of source of funds and where transfered to
I’m excited to let you know that you can you can now make cash deposits into your Tide account!
You can learn more here.
Let me know if you have questions
Why are the daily cash deposit rates so LOW?? I was about to open an account but these limits are far too low. We usually deposit weekly anything up to £7500.