In the UK, you can put cash into a bank account by using a bank’s self-service Cash & Deposit Machine (CDM) (often instantly credited), visiting a local bank branch counter, or using any Post Office branch with your debit card and PIN. Most high-street banks (Lloyds, NatWest, Barclays, etc.) allow these methods for both personal and business accounts.
If you have cash or a cheque to pay into your bank account, you can:
Most banks will charge currency conversion fees when you deposit foreign currency, both for cash deposits and wire transfers. The fee can come in the form of a markup on the exchange rate or a separate charge.
Key Takeaways. There is no legal limit on cash deposits in the UK, but banks may question large sums to comply with anti-money-laundering (AML) regulations. Deposit limits vary by method (ATM, branch, self-service machine) and by bank.
Banking and bills
Access your personal or business bank account at any of our Post Office branches. Pay in cash and cheques, make withdrawals or check your balance. Manage your personal finances and borrowing.
Federal regulations require specific reporting when physical currency deposits into your financial institution exceed certain amounts—not to restrict your deposits, but to help combat money laundering and financial crimes. The key number to remember for 2025 is $10,000.
Banking services at the Post Office
If you're paying in cash and cheques at the same time, you'll need to deposit cash separately. You can't use cheque envelopes to deposit cash.
The source of funds – Large amounts from unexplained sources may raise red flags. Your banking history – A sudden deposit that is significantly larger than usual can trigger scrutiny. Type of deposit – Cash deposits are scrutinized far more than electronic bank transfers.
Any cash paid into your personal joint account counts towards the yearly cash deposit limit for each account holder. There's already a £10,000 cash deposit limit at the Post Office, which will still apply.
You can deposit up to $10,000 cash at a time without having to report the deposit. This applies to deposits of US coins and currency, as well as cash equivalents like money orders and cashier's checks, or any combination of these. If you deposit $10,000 or more in a single transaction, you must report it to the IRS.
Banks don't accept them – UK banks may accept US dollar banknotes, but not coins.
To put money in a bank abroad, you first need to open a current account in it. This is required by many foreign banks. It is a payment account and allows you to move deposited funds. And if you don't have to open the current one, the actions for opening a deposit are similar.
Our fees are applied at the time you use our services. *Note: Cash withdrawals and deposits are only available on Euro, US Dollar, Australian Dollar, Canadian Dollar, Danish Krone, Hong Kong Dollar, Japanese Yen, New Zealand Dollar, Norwegian Krone, South African Rand, Swedish Krona and Swiss Franc accounts.
Cash deposits over $5,000 don't automatically trigger a government report. But they do put the transaction into a higher scrutiny bucket inside your bank. Tellers are trained to watch for patterns that look unusual for you. A single large deposit tied to a clear explanation rarely raises eyebrows.
You can pay in up to £2,995 in a single deposit. There is no limit when paying in cash over the counter. Deposit machines have a limit of £2,995.
Multi-bank ATM deposit machines
They also offer free cash deposits to customers of AIB, Barclays, Bank of Ireland, Bank of Scotland, Danske Bank, first direct, Halifax, HSBC, Lloyds, NatWest, Royal Bank of Scotland, Santander, TSB, Ulster Bank and Virgin Money.
Banks in the UK do not automatically notify HMRC of large deposits; however, they are legally required to report suspicious transactions to the National Crime Agency (NCA) through Suspicious Activity Reports (SARs), which may indirectly reach HMRC if tax evasion is suspected.
A paper trail of potentially suspicious deposits is created after Form 8300 is transmitted to the IRS. Depositing cash at an ATM or with a bank teller, so long as it is below the $10K threshold, will usually not be reported.
You can deposit cash into your account through various channels, each with specific limits: At a Post Office® or Cash & Deposit Machine (CDM): Daily limit: £3,000. Annual limit (rolling 12 months): £24,000.
Unlike some other countries, there's no official threshold where banks must report large deposits directly to HMRC. However, large or unexplained deposits that do not align with declared income can, and often do attract scrutiny.
A saving account is usually the safe option. You can calculate the return you'll receive and decide how long to lock your money away to further increase its worth. As the Bank of England base rate falls, interest rates on savings accounts tend to fall too. Investments are generally more risky.
It is not illegal to keep cash at home in the UK, but it should be stored securely to mitigate risks. The amount of cash to have on hand varies, but a small amount for emergencies is recommended while keeping most in a secure bank account.
When you deposit more than $10,000 in cash, the bank is required to file a Currency Transaction Report (CTR) with the U.S. Treasury. That's not a penalty or a sign of wrongdoing; it's just part of federal banking rules. These reports help track large cash movements that might be tied to tax evasion or illegal activity.
Yes, almost everyone with a UK bank account can deposit money into it at a Post Office branch. This makes it more convenient if you do need to pay in a cash deposit, without having to find your nearest bank branch - which could be quite a distance away.
How To Make an ATM Deposit. The steps for making a deposit can vary by ATM. Just follow the on-screen instructions as you would when completing other ATM transactions. Note that ATMs that are Cash & Check Deposit do not require an envelope to make the deposit.