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Turning cash into electronic

  • 23-01-2022 10:04am
    #1
    [Deleted User]
    Posts: 0 ✭


    I don't have any bank accounts that accept cash lodgement and would prefer not to have to pay for banking. Since ESB is considering leaving the current account market not sure it makes sense to open a moneymanager account.


    What's the best/cheapest way to turn €5k into "electronic money" so I can transfer into my account?



Comments

  • #2
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    On a one-off basis, find a friend to help you.

    On an ongoing basis, you'll need a legacy bank for this.



  • #3
    Wheety
    Registered Users, Registered Users 2 Posts: 5,516 ✭✭✭Wheety


    Have you tried the credit union? Not their current account but the shares account? I can go in and deposit cash and electronically transfer it online. Can set up standing order etc. Has an IBAN so could get my salary paid there too.

    Not sure what the difference, apart from ATM card, between this account and their current account offering is. €4 a month for my CU's current account v free for the shares account. With Revolut and N26 I can just withdraw money that way.



  • #4
    Bosco26
    Registered Users, Registered Users 2 Posts: 38 ✭Bosco26


    Open a free savings account in a legacy bank, deposit the cash and transfer online to your 'electronic' accounts?



  • #5
    Boardnashea
    Registered Users, Registered Users 2 Posts: 868 ✭✭✭Boardnashea


    Agree with all WHeety's above, but my CU has a cash lodgment limit of €1000 per day so you would need to go in over a few days to lodge that amount.

    It looks like large cash transactions are being discouraged at every opportunity, in all institutions.



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