lodging cash in First Active

[mjg]

We have a First Active current account mortgage for a house that we are currently renting. The tenant for this property wishes to pay rent by cash and so was asked to do so directly at the First Active branch. But First Active have a policy of not accepting cash and will only accept a cheque / postal order etc. I was astounded by this and am waiting to hear from the bank manager as to what can be done (nothing I imagine). Alternatives to this would be to open another bank account to allow for the transfer of funds from cash to mortgage account. But I cant believe the bank charges! I have a free NIB account but there are no NIB branches in this town. I live in a bank charge free UK and am horrified by the state of current account banking in Ireland. Can FA really not accept cash (legal tender)? Is there an economical way of lodging cash?

 

[moneyhoney]

Whatever about the rights/wrongs on FA not accepting cash, are you sure you want to run the risk of allowing your tenant to pay rent by cash? Would it not be better to ask him/her to set up a standing order into your mortgage account every month?

 

[daltonr]

Vote with your feet. Get the details on moving your mortgage elsewhere. I've heard a number of stories about funny practices at First Active when it comes to Mortgages particularly on investment properties.

-Rd