Cash is not king: unwelcome depositors seek new homes

Cash may have been king a few years ago, but it has fallen on hard times. Facing a raft of new regulatory costs, banks are turning customers away – seven out of 11 depositors that spoke to Risk for this article said their bank has become reluctant to do the business. The alternatives are not always attractive.

Cash not welcome: the bizarre world of banking, post-Basel III

In mid-2014, a treasurer at a UK insurance company found himself in an unexpectedly tense conversation with one of the firm's banks, after trying to deposit the proceeds of a share sale – a total of several hundred million pounds.

"The relationship director said, ‘What are you doing? What is this money? Take it out! We don't want it. It's going to cause issues for our half-year reporting," says the firm's head of treasury. "My initial reaction was ‘What are you talking about? You're a bank! This

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here