Cash deposit limits

We’re making this change to help keep our customers safe from potential fraud and financial crime.

We are replacing the current daily cash deposit limit of £5,000 per account with a new annual cash deposit limit of £20,000 per customer.

If you wish to, you can pay in the full £20,000 in one transaction. But you will then not be able to deposit again until the limit resets on 1 January the following year.

No. When it comes to sole accounts, the £20,000 limit applies to the customer. And applies across all their personal current accounts and savings accounts.

For joint accounts, the limit applies to the account itself. So, the account has a £20,000 annual limit. And not £20,000 for each account holder. So, if you put £20,000 into the joint account, the other account holder cannot put in any cash until the limit resets on 1 January the following year.

If you have both sole accounts and joint accounts, the £20,000 limit on the joint account is in addition to your own £20,000 limit.

No. The cash deposit limit does not currently apply to Virgin Money accounts.

No. The cash deposit limits do not currently apply to business savings accounts.

The limit applies to the account holder and not the person managing the account. So, each person has their own £20,000 limit across their personal current accounts and savings accounts.

This is also true for Third Party Mandates, Court of Protection or similar orders.

It depends on the type of account.

If the account is in the child’s name, or is a Child Trust Fund, then the money will count towards the child’s annual cash deposit limit. If the child is a beneficiary on an account, it will count towards the account holder’s annual cash deposit limit.

There are several ways you can deposit cash into your Nationwide accounts.

You are able to pay in £2,500 cash a day via a Nationwide cash machine or ATM. And if you come into branch and pay in at the counter, the daily limit is £5,000 a day. After 29 July, you will be able to transfer £20,000 at a branch counter.

We also offer deposits at over 3,000 PayPoint sites across the country. This option has a £300 daily limit.

Find out more about our cash services.