:

Bank won't take cash to repay debt.

The Co-operative Bank is quoted in today's Sun newspaper at
formatting link
as saying that they are unable to accept cash payments for credit card bills following a recent EU directive.
I have not found the actual directive to check it out myself but I find it hard to believe that cash is a no-no. I thought that bank notes were legal tender for all debts.
Most people will not be affected by this but it will badly hit poor people who don't have bank accounts and who may not be eligible to get them for one reason or another.
Does that mean that John Smith of Park Bench No. 5, People's Park, Grimsby will have to get a postal order at considerable expense to pay for his Vanquis credit card bill?
--
Alasdair.
Reply to
Alasdair
formatting link
"Maurice Dunbar, 69, was told new Euro rules meant his £60 in notes could not be accepted.
He had paid his bills with cash at the Co-operative branch for 25 years.
"What kind of bank does not accept cash?"
He didn't see *that* coming. Maybe he should be rethinking his occupation.
Reply to
martin

formatting link
I can't help thinking that a person who's so poor that they can't get a basic bank account is unlikely to have a credit card.
Reply to
Sam

ISTR that if you offer to pay in legal tender, and they decline to accept, your debt is discharged. And that legal tender is £1 coins.
Maybe I got that wrong.
Most people can get a "Basic banking account", even poor people with poor credit histories.
Reply to
cobble
Somebody will be along to correct in a minute but ISTR that if you offer legal tender and they refuse to take it they cannot take you to court for non payment.
BoE Notes are legal tender and I think it is also coins up to a liit of 20. So they can send you away with your £10k in 2ps and say "don't be silly."
Reply to
Rob
On Mon, 09 Nov 2009 22:55:45 +0000, Alasdair wrote:
Mr Hate Europe Murdock says, this old man says that The Coop says that there is this EU directive, that nobody can be bothered looking up, that says that good old British Pounds are no good round here no more. Yea right!
Reply to
Keith2.0

formatting link
Add to the fact I think everyone is now entitled to a basic bank account so they can have benefit payments paid in to them.
Reply to
Theodore
Theodore posted
But basic bank accounts do not usually provide chequebooks or DD cards.
--
Les 
If by creating a police state we can save just one child, then it will all have 
 Click to see the full signature
Reply to
Big Les Wade
No, the debt is not discharged until it is paid. However, if the bank chose to sue you for the debt, then you could simply pay the cash into court, and at that point the debt is legally discharged.
Correct. Copper is legal tender for amounts up to 20p. Silver coins of 5p or 10p are good for up to £5. Silver coins of 20p or 50p are good for up to £10. Higher denominations, that is, coins of £1, £2, or £ 5 denomination, or notes of £5, £10, £20, or £50 denomination, are le gal tender for unlimited amounts. [Coinage Act 1971]
Reply to
Ste

It is probably something to do with this:
formatting link
(read the column headed background)
There are various links from the above, to be followed if you are that way inclined. Probably some dimwitted jobsworth at Coop Bank has misread something somewhere, probably some internal communication from the higher echelons of the bank, that, more than likely contained spelling mistakes and poor grammar. See
formatting link
--
brightside S9
Reply to
brightside S9
Alasdair posted
It's probably just the old "Sorry we have to do this because of X" routine you get from organisations when they decide they don't want to do something for their own reasons.
"New European rules" is just one of the possible values of X; others are "health and safety", "the insurance", "the computer", "data protection", "security" and "child protection".
--
Les 
If by creating a police state we can save just one child, then it will all have 
 Click to see the full signature
Reply to
Big Les Wade


No, but you can set up DD's And if you go into the branch, they'll give you a printed cheque subject to the funds being available in your account, which is a lot cheaper than getting a postal order from the PO.
Reply to
Sam

formatting link
If the ard is isued by or through the co-op bank and the bank refuse to accept cash as payment they can not then add charges to the account
Reply to
steve robinson
Sam posted

That's probably the reason the Co-op has invented this special new rule. Suppliers would love to force DDs on as many people as possible. There's nothing as handy as having access to your customers' bank accounts.
Never heard of that, my A&L basic account doesn't offer it (not explicitly anyway). How much does it cost and how long does it take to arrange?
But probably a lot less convenient than paying cash.
--
Les 
If by creating a police state we can save just one child, then it will all have 
 Click to see the full signature
Reply to
Big Les Wade
In article , Big Les Wade writes
Ah the old DPA ploy, Virgin Medicre have taken to using this excuse when asked a non specific question about general pricing and accounts, saves them having to deviate from the crib sheet.
Mike
--
Michael Swift           We do not regard Englishmen as foreigners.       
Kirkheaton              We look on them only as rather mad Norwegians.     
 Click to see the full signature
Reply to
Michael Swift
On Mon, 09 Nov 2009 22:55:45 +0000, Alasdair wrote:
The above link does not work for me. This one goes to the Birmingham post where the Sun probably snitched the article from
formatting link

I have a credit card with the coop and got a letter about 2 months ago which said they were stopping cash payments for settling credit card accounts. No real explanation and when I went into the bank the cashiers couldn't explain it either. They said they would fix me up with a payment account to transfer money from that to the credit card account. I still don't know why. I stopped using the credit card and am in the process of looking for another supplier. Unless all banks are doing this in which case I'd be wasting my time. Does anyone know if other banks are doing this?
I have also found this
formatting link

and this
formatting link

Twisted English and acronyms. Gobbledygook for anyone not in the finance industry
I'm still baffled as to why I can't take a bill and cash into the branch and pay the bill.
Reply to
AlanG

I've had to do it twice because of an emergency, once got mugged and lost all my cards, canceled them at the bank and had the bank raise a counter cheque made out to cash for me to get hundred quid.
Just ask them to raise a counter cheque and make it out to whoever you like. It didn't cost me anything and was done there and then.
Reply to
martin
"Rob" wrote
If so, then who decides whether you're telling the truth or not?...
NOT telling truth => CAN take to court for non-payment.
But... Telling the truth => canNOT go to court, so court cannot even decide if you're telling the truth that you offered & they refused!
Reply to
Tim
martin posted
Mmm. My A&L account T&Cs forbid me from using counter services. I have to use their phone helpline for stuff that I can't do at an ATM. I'll try ringing them and see if it's possible.
--
Les 
If by creating a police state we can save just one child, then it will all have 
 Click to see the full signature
Reply to
Big Les Wade
AlanG posted
snip
Now that I think of it, a year or two I tried paying cash over the counter at a Nationwide branch to pay my Nationwide credit card bill. They accepted it, but said it would take three days to clear, just as if it were a cheque.
So it may be part of the CC companies' efforts to get people to miss a monthly payment and thus incur a charge.
--
Les 
If by creating a police state we can save just one child, then it will all have 
 Click to see the full signature
Reply to
Big Les Wade

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.