Comparison
Best business accounts for cash deposits
If you take notes and coins, the cash line on the tariff decides your annual cost — not the monthly fee. The three charging models produce wildly different bills for the same money.
Our picks
Monzo Business
A flat fee per deposit rather than a percentage. Cheap for a few large deposits, expensive if you bank little and often.
Barclays Business
A per-£100 rate with counter access and a night safe. Once you are banking thousands weekly, the monthly fee is the smaller number.
Lloyds Business
Machine deposits are charged at roughly half the counter rate. Check your branch actually has a machine before choosing on this.
Compared
Scores use our seven weighted criteria. Run your own numbers on the true cost calculator.
| Account | Model | Rate | Cost/yr at £1,200/mth | Branch | Score |
|---|---|---|---|---|---|
| MoMonzo Business | Flat fee | £1 per deposit | £24 | No | 4.3 |
| TTide | Percentage | 0.5%, min £2.50 | £72 | No | 3.8 |
| SStarling Business | Percentage | 0.7%, min £3 | £101 | No | 4.2 |
| LLloyds Business | Per £100 | £0.85 machine / £1.50 counter | £122 machine | Yes | 3.5 |
| HHSBC Business | Per £100 | ~£1.00 (unverified) | £144 | Yes | 3.7 |
| Barclays Business | Per £100 | ~£1.20 counter | £173 | Yes | 3.6 |
| CCo-operative Bank | Percentage | 1.5% | £216 | Limited | 3.3 |
| RRevolut Business | Not supported | — | — | No | 3.6 |
Three models, three very different bills
Providers charge for cash in one of three ways, and which suits you depends entirely on your deposit pattern rather than your turnover.
- Flat fee per deposit. Monzo charges £1 whatever the amount. Brilliant for one large weekly deposit; poor if you bank small sums daily.
- Percentage with a minimum. Starling charges 0.7% with a £3 minimum per deposit. The minimum is what hurts — four £150 deposits cost £12, not £4.20.
- Per £100. The high street charges around £0.85 to £1.50 per £100. Predictable, scales linearly, and becomes the cheapest model at volume.
Worked example: £1,200 a month in two deposits
Using the figures above, the annual cash cost alone ranges from £24 at Monzo to £216 at the Co-operative Bank — a ninefold difference for identical banking. Add the monthly fees and the picture shifts again, which is what the true cost calculator is for.
Worked example: a café banking £2,500 a week
That is £130,000 a year. At 0.7% with a percentage model, roughly £910. At £1.20 per £100 on the high street, roughly £1,560 plus about £102 in fees. At 1.5%, roughly £1,950.
So the digital account still wins on pure cash cost — but at that volume the practical questions take over: can your local Post Office handle daily takings, is walking cash there acceptable on security grounds, and do you need a night safe? Those are what actually push cash businesses to the high street, not the tariff.
The Lloyds machine-versus-counter gap
Lloyds charges roughly £0.85 per £100 at a paying-in machine and around £1.50 over the counter — nearly double for the same money. Almost nobody notices this when choosing, and for a business banking £2,000 a week it is worth hundreds of pounds a year. Before choosing Lloyds on cost, confirm your branch has a machine that accepts your deposit type.
Accounts that cannot take cash at all
Revolut, Wise and Airwallex support no cash deposits. Allica’s cash handling is limited. If you take notes and coins, these are not candidates for your main account however good they look elsewhere.
The two-account answer
Plenty of cash businesses hold a high-street account for deposits and cheques alongside a free digital account for day-to-day banking and tooling. Both are FSCS-protected, neither is expensive to add, and you get a working account if one is ever frozen for a review.
Common questions
Which business account is cheapest for cash deposits?
It depends on your pattern. For a few large deposits, Monzo’s flat £1 per deposit is hard to beat. For frequent small deposits, a per-£100 model is often cheaper than a percentage with a minimum. At high volume the high street becomes competitive despite the monthly fee.
How much do banks charge to pay in cash?
Roughly £0.85 to £1.50 per £100 on the high street, 0.5% to 1.5% at the digital providers, or a flat fee per deposit at Monzo. The Co-operative Bank’s 1.5% is the most expensive mainstream option for cash-heavy businesses.
Can I pay cash into a digital business account?
Yes, through the Post Office network for Starling, Monzo, Mettle and Tide. Revolut, Wise and Airwallex do not support cash deposits at all. Check your local Post Office’s hours and deposit limits before relying on it.
Is it cheaper to pay in cash at a machine or a counter?
At Lloyds, machine deposits cost roughly £0.85 per £100 against around £1.50 at the counter — nearly half. Confirm your branch has a machine before choosing an account on that basis.
Do cash deposits have limits?
Yes. Post Office deposits have per-transaction and daily limits, and some free banking offers cap annual cash — Virgin Money’s is £250,000 a year. High-volume businesses should check the cap as well as the rate.