Cash Withdrawals & Deposits at the Post Office


#1

Is there scope to allow customers to deposit money at a Post Office and or withdraw money? Whilst the mobile aspect of Starling is a massive draw for people would it not open a bigger customer base specifically those that are not happy with the current banking offering in the UK?


Depositing cash via paypont
Starling Cash Deposit
Post Office Cash Withdrawals
Problems with cash deposits at NatWest
Problems with cash deposits at NatWest
Cash deposits
#2

I have to admit being able to pay in cash at post office would be very handy.


#3

Yep - I agree and it’s one of the things I was surprised wasn’t actually already sorted to be honest.

I don’t pay cash directly into my account that often - but it’s useful to still have that option fairly handily.


#4

You know you can pay in at a NatWest? 600001 48588725 and then the reference is your surname & Starling account number.


#5

Sadly though NatWest are closing a number of their branches to the tune of about 150. That includes the one nearest to where I live and work. The branch that is about a mile away from where I live is closing but a post office is roughly 600 yards down the road. The one a couple of miles from where I work has a post office on the same side of the road about 100 yards away.

I’m also lucky if I needed one to have a post office 300 yards from my front door.

As more banks close their doors the Post Office could be an opportunity:

The Post Office is required by government to meet the following five
‘Access Criteria:’

  1. 99% of the UK population to be within three miles of their
    nearest post office outlet;
  2. 90% of the UK population to be within one mile of their
    nearest post office outlet;
  3. 99% of the total population in deprived urban areas across
    the UK to be within one mile of their nearest post office
    outlet;
  4. 95% of the total urban population across the UK to be
    within one mile of their nearest post office outlet;
  5. 95% of the total rural population across the UK to be
    within three miles of their nearest post office outlet.
    In addition, the following criterion will apply at a local level to ensure a
    minimum level of access for customers living in remote rural areas:
  6. 95% of the population of every postcode district to be
    within six miles of their nearest post office outlet.

Starling have a product that can bring financial inclusion to many many people and the Post office could work towards that.


#6

Yes that’s a good point. Monese also let you use PayPoint to deposit too, which might be convenient for some people. I guess at the moment you’ll have to maintain a legacy bank account for things like cash/cheques then transfer the money over once cleared.


#7

FAQs state that cheques can be mailed to Starling Operations Team, PO Box 74202, London SW1P 9SG although I guess that adds the cost of the stamp etc. not quite offsetting standing in a post office queue.


#8

https://www.paymentsuk.org.uk/projects/cheque-imaging

Cheque imaging must be used from next year it was mentioned in slack other day, and Starling will support it.


#9

I like the idea of using the Post Office and putting your card in the machine is very quick when it comes to cash deposits.

However I understand Starling is in BETA and I’m sure they’re looking at better ways other than NatWest.


#10

You should try finding a NatWest in Scotland :joy:


#11

Thanks for this - do you just collect a paying in slip in branch? How long does it take for funds to clear?


#12

Sorry - I mean when paying in at NatWest


#13

@Simon_Harrison I wrote the Starling account number for paying in, the paying in sort code, my last name and my Starling account number down and verbally quoted them before paying my deposit in to counter staff in Natwest.

I made sure to grab a reciept because the Natwest staff looked at me weirdly for paying a as to the staff “unknown” bank via Natwest as a non Natwest account holder. I wasn’t sure they would handle it correctly so I requested a receipt just in case. (Am happy to say it all went perfectly!)

I paid in at around 1:30pm and the next morning at around 10am the money was in my Starling account. :slight_smile: (I believe I read somewhere on here that it can take up to 24hrs to be deposited from paying at Natwest to appearing in your Starling account.)


#14

Agreed - being able to deposit cash/cheques at post offices would be a huge win for Starling.


#15

Glad I read this. Deposited money in my nationwide account yesterday and pondered how it would work with Starling aside from turning up at the starling office with a sack of coins.


#16

Any ideas of this can be implemented?


#17

Definitely +1 on this one! There’s only a TSB in my town but there’s a Post Office branch within the Tesco Local which means it’s open until late 7 days a week. This is currently how I pay in with my Santander and Barlcays (and previously my Yorkshire Bank B) accounts.


#18

i asked on the in-app chat if they could add paypoint and they said they’ll pass it onto the team. Hope they add it !


#19

Would love this option too @DanieleDAdemo


#20

In our village there is an ATM at the local Co-op which I have used with no problem. There is also a chip and pin machine on the post office counter. My question is I know that I can draw money from the post office with my Lloyds card ( have done it many times ), but can I use my Starling card as well?