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durhamborn

No You Cant Have Your Cash Back!

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Decided today to empty several bank and building society accounts so trotted off down the high street.

First Brittania grand sum of £1956.00.Sorry you can only have £500 :blink: I want it all thankyou.So over comes "advisor" asking why i wanted it ?.0.3% thats why thankyou safer with me than you.In the end got it all.

Off down Natwest.Grand some of £1264.00.Id like to leave in £1 please.Sorry you can only have £500.No il have it all thanks.Once again "advisor" comes over.Why do you want it in cash?.Because your bankrupt thanks.Get it after wrangling.

Off to Halifax.Grand sum of £2231.00.Same again,you can only have £500.Ended up getting it all bar £1.

Into Barclays (current account) to pay in cash so i can invest it straight away far from sterling.Asked if id like some account paying about 1%.No thanks im emptying account later,and can i have an ISA transfer form please.

Her reply,"yeah anywhere is safer than a bank eh" :o

Anyone else noticed this?Seems to me banks are doing everything to stop people turning their computer digits to cash.

I used some to buy a years supply of basics like sugar,tins,tea,coffee,rice etc as i figure inflation in imported food will be much higher than the 0.8% i was getting on the cash.

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I used some to buy a years supply of basics like sugar,tins,tea,coffee,rice etc as i figure inflation in imported food will be much higher than the 0.8% i was getting on the cash.

If you've just blown a few grand on tinned food, then I can quite well see why there is going to be inflation in food prices - or just an anomoly in Durham County?!? :ph34r:

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Have you rung your insurance company? Banks are insured against theft and you should be too. You will also need a safe approved by the insurance company

Edited by moosetea

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If you've just blown a few grand on tinned food, then I can quite well see why there is going to be inflation in food prices - or just an anomoly in Durham County?!? :ph34r:

Haha well about £500 quids worth,car was a bit sluggish driving home.

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Decided today to empty several bank and building society accounts so trotted off down the high street.

First Brittania grand sum of £1956.00.Sorry you can only have £500 :blink: I want it all thankyou.So over comes "advisor" asking why i wanted it ?.0.3% thats why thankyou safer with me than you.In the end got it all.

Off down Natwest.Grand some of £1264.00.Id like to leave in £1 please.Sorry you can only have £500.No il have it all thanks.Once again "advisor" comes over.Why do you want it in cash?.Because your bankrupt thanks.Get it after wrangling.

Off to Halifax.Grand sum of £2231.00.Same again,you can only have £500.Ended up getting it all bar £1.

Into Barclays (current account) to pay in cash so i can invest it straight away far from sterling.Asked if id like some account paying about 1%.No thanks im emptying account later,and can i have an ISA transfer form please.

Her reply,"yeah anywhere is safer than a bank eh" :o

Anyone else noticed this?Seems to me banks are doing everything to stop people turning their computer digits to cash.

I used some to buy a years supply of basics like sugar,tins,tea,coffee,rice etc as i figure inflation in imported food will be much higher than the 0.8% i was getting on the cash.

I suggested this to my partner last night. When I have done so in the past (as recently as Saturday!) I have been ridiculed, and told we don't have the room to store it. Imagine my surprise last night; she started talking about the storage options! My partner has no interest in economics and only listens to the news if there is nothing else on; for her thinking to shift so dramatically and so quickly means the gravity of the situation must be seeping into the consciousness of the public now. However, I doubt whether the public will make the connection between low interest, high inflation in the pipeline) and stockpiled food.

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Off down Natwest.Grand some of £1264.00.Id like to leave in £1 please.Sorry you can only have £500.No il have it all thanks.Once again "advisor" comes over.Why do you want it in cash?.Because your bankrupt thanks.

:lol: Well I guess there was no way, they could attempt trying to deny that accusation. :lol:

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Have you rung your insurance company? Banks are insured against theft and you should be too. You will also need a safe approved by the insurance company

What, to store rice and tinned foods? How bad do you think things are going to get?

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Since it seems you were insisting on having all your payouts in cash, the £500 limit is standard practice unless you give them a few days notice.

Unless you think they'll fold within a week, surely cheques would have been safer? Walking around with over £5k in cash, and drawing attention to yourself in each place you did it was far riskier I think.

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It's always been the case that if you want to withdraw over a certain amount in one day then you have to give advanced notice to the branch. The don't just keep all your deposits in a safe in the back room, you know.

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part of me wants to go out and stock up on items such as these, but another part of me thinks it'll just then add to the self-fulfilling prophecy that it could become.

I already have the estate agent coming around today to see if I can sell before negative equity hits........ (if not I will just have to ride it out, but luckily i'm 5 years fixed at interest only for the next 4 years) ......... :lol:

This forum is crazy but also quite exciting.

We have £9k in halifax savings account, and £8k with NSandI .

I think it is sensible to keep around £1k in cash in the house for emergencies so we may try to get at least that amount out.

Edited by w_n_s

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It's always been the case that if you want to withdraw over a certain amount in one day then you have to give advanced notice to the branch. The don't just keep all your deposits in a safe in the back room, you know.

Of course but we arent talking 10s of thousands here,plus they werent suggesting coming back they were suggesting i left it with them.

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Last year, when I was having to pay my builder at least £3k a week in cash, the bank (HSBC) never once said there was a limit beyond which they couldn't allow withdrawals. Indeed I saw some pretty heavy duty withdrawals at the Victoria St branch the day it was announced that Boris had won the mayoral election............

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Decided today to empty several bank and building society accounts so trotted off down the high street.

I've been slowly draining my accounts over the last couple of months. Only £500 a time from cash machines though. I'm in danger of redundancy so need to get most of our savings off the radar so as not to disqualify ourselves from benefits. Trouble is what to do with it?

Got a safe but will only put a couple of £K there. Sure I could buy more safes and install them at the relatives houses but what if they're doing the same?

Should I pay down the mortgage? If we get bad inflation then as long as I've still got a job and the wages keep pace then my debt will shrink and thus overpaying the mortgage now would be foolish.

I can stock up on food etc but even if I go all Ray Mearsish that shouldn't use up more than £1-2K.

I'm thinking of investing more in food commodities as I've noticed my ETFS AGRICUL fund has gone up 23% in the last 3 months, nearly 17% in one month! This is probably due to the £ tanking though. Mind you the £ is going to tank more so maybe it's a good call. Only problem is that my share dealing account is visible to the DSS or whatever they're called now. Having said that if I'm getting 23% every qtr then who needs benefits?

Can't keep the money in the bank, what to do?

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Had the same problems trying to get my own money out of an Abbey current account.

Bearing in mind that the week previous I had paid a Halifax cheque of £50k into the account, waited for it to clear and went into the branch to get the £50k out in cheque form.

The conversation went like this:

(AT BRANCH)

'I would like to take out 50k please and make the cheque payable to me' (ME)

'50k (looks amazed) I'm going to have to get authorisation for this...... do you have an id?' (ABBEY STAFF)

' Yes, here it is' (ME)

'mmmmm, for some reason my computer isn't letting me do this, probably because it is such a large amount, I will have to contact the fraud department by telephone' (ABBEY STAFF.)

'That is okay, I only paid it in last week at this branch and it has cleared, but I can wait (as I swing my 1 year old over my shoulder)' (ME)

'Well I can not phone them now because as you can see there is a queque behind you and we have a policy that we don't make phone calls over the lunch period' (ABBEY STAFF).

'Look, I've travelled 10 miles to get here to my LOCAL Abbey branch to get MY money out that I put in at this branch last week! Can any other member of staff do this for me' (ME)

'No... there is noone else that can help you, if you leave your details here with me when I get a break later in the day I will phone through to HQ' (ABBEY STAFF)

'But I will still have to come back and sign everything' (ME)

' Yes, you will, in fact just phone the call centre yourself when you get home and do it yourself' (ABBEY STAFF)

So, I got home, called the Abbey call centre and they told me that they couldn't transfer MY money to another bank account... something to do with needing to show id at branch and it can only be done at the branch!!!!

I went back to a different Abbey branch later that day and I told them I had problems getting the £50k out earlier in the day. The Abbey Staff member told me..' oh yes, our computer system was down earlier today, but it is up and running again!'

I got my money out .... what a time wasting exercise.......... just hightened my annoyance of the Abbey and reminded me why I would never use them for a mortgage or anything ever again!!!! :angry:

Edited by sophia

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Guest sillybear2
Have you rung your insurance company? Banks are insured against theft and you should be too.

It's pretty clear tax payers aren't!

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Ever heard of online banking? Would have saved you a lot of hassle today.

I transfer larger sums than yours combined into my mortgage regularly emptying my bank account with no questions asked.

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Sounds to me they just dont want to convert bank credit into limited (at least so far) narrow money or legal physical tender.

I can't imagine why *cough* shell game..*ahem*.

p.s. no l dont want to open a debate about FRB and so on.

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Should I pay down the mortgage? If we get bad inflation then as long as I've still got a job and the wages keep pace then my debt will shrink and thus overpaying the mortgage now would be foolish.

Wages will not (in general) be going up in the near future, so don't rely on it.

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Sounds to me they just dont want to convert bank credit into limited (at least so far) narrow money or legal physical tender.

I can't imagine why *cough* shell game..*ahem*.

p.s. no l dont want to open a debate about FRB and so on.

I was goingto post a thread about this. Everyone should open an account with HSBC. 24 hours notice for unlimited amounts.

I rang up the branch and asked. All they need is 24 hours, 2 forms of ID eg passport and driving license and about half an hour in the back office. no paperwork other than handing over the loot. You can transfer cash from other accounts in 2 hours (UK based, certainly tescos).

Girl asked how much I wanted to pull. I said all of it. She said "all of it?" I said "all of it. All 47 thousand pounds worth please in used 20's"....

I have wanted to say that for such a long time !!! :lol::lol::lol:

To be stashed in an undisclosed very safe location.

Edited by mbga9pgf

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It's always been the case that if you want to withdraw over a certain amount in one day then you have to give advanced notice to the branch. The don't just keep all your deposits in a safe in the back room, you know.

Wow!

I must have been lucky then.

I live in Malaysia and was back in Yookay a few weeks ago. Wanted to empty my First Direct account 'cos they are scum-suckers and couldn't run a whelk stall. I had lost my cheque guarantee card.

Went into an HSBC with cheque-book and passport in Morley (Leeds) at 9.45 on Monday and withdrew 3K in cash against the cheque. They never turned a hair....but bit was all in 10s and 20s. :(

Then - went to the HSBC in Skipton two days later and did the same thing. The old lady behind the counter had to look up some "rules" or "guidelines" or something but handed over the dosh like a good 'un. Bless 'er.

I didn't even have to show a cheque 'guarantee' card or anything.

I've now got a total of 50 quid in UK banks. The rest is in Malaysian currency (US dollar linked) tax free earning 6.75% and guaranteed by the national bank up to US$60K per account.

I can recommend it! Especially as sterling has dropped 30% against the local currency in the last 10 months.

:P

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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