I have recently sold some company assets (not a large figure) and the buyer insisted on paying cash.

My question is, my BUSINESS bank charge 0.6% on cash deposits, which is annoying - In theory, is there anything wrong with paying the cash into my personal account (I am the sole director of the company) and then doing a bank transfer (which they do not charge for) of that amount direct to the company account? as long as this is documented, is there any reason I shouldn't?

Both accounts are in my name, and with the same bank (HSBC, UK).

(This is a hypothetical question really, I will almost definitely just deposit the cash direct to the account) I Know I COULD just hold the cash, and use it for bills etc, but then there is an accounting gap that would need to be addressed.

  • If you asking about laws, you really need to indicate the locale. Countries, states, etc - all have different rules and laws. Feb 27, 2014 at 13:44
  • Good point - amended Feb 27, 2014 at 13:52
  • When you say "both accounts are in my name", do you mean that the business one has your name as the holder, and not the business name? Feb 27, 2014 at 14:23
  • It is in the company name, but my name is on the only debit card, and all correspondence is in my name (all statements etc) I set the account up. Feb 27, 2014 at 14:40
  • 1
    How about changing banks to one that doesn't charge for you depositing cash at a branch.
    – Victor
    Feb 27, 2014 at 19:38

2 Answers 2


Let me do the math. .6% * (not large) = really tiny. Since "not large" = "small" , etc.

I suggest that even a small chance that you need to explain this to anyone in the future is a sign to avoid the risk. Yes, there are times that it's illegal. A real estate office may not deposit escrow funds into anything but a segregated escrow account. In your case, even if legal, it messes up 'the books' and can cost you more in grief than the 'tiny amount' saves you in cash.


buy a cashiers check with the cash (a CRT will be nec if over 10 K) and deposit the cashiers check

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