Can someone else deposit money into my An Post deposit account?

Worztron

Hi. Can someone else deposit money into my An Post deposit book account if I gave them my book? Thanks.

Soulsun

Yes, my wife does mine.

Princess Calla

Can't see there being any problems.

Withdrawal, definitely not!

bcklschaps

Worztron wrote: »

Hi. Can someone else deposit money into my An Post deposit book account if I gave them my book? Thanks.

No..... but they can lodge money into my account ;-)

Worztron

Thanks, guys.

Worztron

Does the other person just need my An Post Deposit Book & cash and not need to sign anything?

coylemj

Worztron wrote: »

Does the other person just need my An Post Deposit Book & cash and not need to sign anything?

The counter clerk may ask them to sign a deposit slip but they won't ask for ID or anything like that.

I don't know why you think there may be a problem with the proposed transaction, tenants lodge money to their landlords' accounts all the time.

Mrs OBumble

coylemj wrote: »

The counter clerk may ask them to sign a deposit slip but they won't ask for ID or anything like that.

I don't know why you think there may be a problem with the proposed transaction, tenants lodge money to their landlords' accounts all the time.

Anti-money laundering policies apply no matter who does the depositing. I don't know what the threshold is for being asked to identify yourself and the source of the cash, but I know there is one.

Okon

Mrs OBumble wrote: »

Anti-money laundering policies apply no matter who does the depositing. I don't know what the threshold is for being asked to identify yourself and the source of the cash, but I know there is one.

There probably is a threshold but other people can definitely lodge money in to somebody elses's An Post deposit account with the book, 100%. Members of my family put money in to mine all the time, usually because they are going to the post office before me... they are asked to sign a receipt slip at the post office counter and get a receipt back with the deposit amount and book total etc. but they are never asked for ID. However, we are only talking amounts between €20 - €200, so nothing major.

Maybe if people were lodging ten grand in to my book they might get asked for ID, but then again, if they were lodging ten grand they wouldn't be members of my family!

Worztron

Good article here on money laundering: https://www.citizensinformation.ie/en/money_and_tax/personal_finance/banking/money_laundering_in_ireland.html

Worztron

coylemj wrote: »

...I don't know why you think there may be a problem with the proposed transaction...

Hi coylemj.

I was just curious. I haven't deposited money in An Post for a very long time.

Worztron

At the end of the POSB Deposit Receipt, it says 'Signature of Account Holder'. I signed this today. Does it also say that if someone else lodges cash into my account? How can they sign on that receipt?

Worztron

Anyone?

Okon

My family members sign the receipt, but I wouldn't think the post office staff care if it's small amounts of money going in. They would check signatures and ask for ID for withdrawals obviously, but somebody putting €30 in to a deposit account with the passbook wouldn't raise too many eyebrows I'd say. (In my case I'm sure the staff are aware that the people lodging money for me are members of my own family... I can't say how it would work for everyone, especially very large amounts.)