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Nationwide Sets Counter Limit At £100 For Basic Account

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http://news.bbc.co.uk/1/hi/business/10253426.stm

Nationwide Building Society customers with cash card accounts will now have to take out a minimum of £100 if they use the counter service in its branches.

The limit only applies to those with the most basic card account.

It does not include customers with pass books or debit cards.

Customers with cash card accounts will still be able to take out smaller amounts, but only by using the cash machine.

The move brings Nationwide in line with a number of its competitors, who already have similar - or stricter - restrictions on counter service use in place.

For example, Santander has a minimum withdrawal of £300 across most of its outlets, which include the Abbey. Alliance and Leicester will introduce the limit at the beginning of July.

At HSBC, basic bank account holders cannot do any banking over the counter.

Nationwide said the change was needed to reduce queues in its branches and that there were alternatives for those affected.

Nationwide says about a third of all counter transactions are carried out by less than 8% of its customer base.

More and more banks appear to be putting in these limits.

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http://news.bbc.co.uk/1/hi/business/10253426.stm

More and more banks appear to be putting in these limits.

Who wants to go to a counter to draw less than £100 anyway? Even if people say old people feel safer etc, why cant they be taught how to use a cash machine, and alot of cash machines are inside bank buildings so they can feel safer. Or am I missing something?

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Erm people with less than £100 in their account...?

It won't affect debit card users I think... and old/blind/mad people will still be allowed to use the counter

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Who wants to go to a counter to draw less than £100 anyway? Even if people say old people feel safer etc, why cant they be taught how to use a cash machine, and alot of cash machines are inside bank buildings so they can feel safer. Or am I missing something?

Yes, clearly you are.

But you keep using your bank issued cards and direct debits like a nice compliant little prole. ;)

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I've got no problem with this, as long as counter staff don't refuse to serve you in the event of ATM malfunctions.

As for the being a compliant little prole angle, the bank's computer is going to register the details of transaction whether you interact with it directly, or you interact with a human who interacts with it; and so I can't see any difference there.

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Yes, clearly you are.

But you keep using your bank issued cards and direct debits like a nice compliant little prole. ;)

So drawing from a cash machine is different from drawing from the counter, how is that other than being served by a person?

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Who wants to go to a counter to draw less than £100 anyway? Even if people say old people feel safer etc, why cant they be taught how to use a cash machine, and alot of cash machines are inside bank buildings so they can feel safer. Or am I missing something?

Signed reciepts.

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This is a non-story.

In fact the limit should be your single transaction cash machine limit.

Most people can do up to 2 £350 withdrawals from a cash machine per day.

So unless you already used your limit, why on earth would you need to go to the counter for withdrawals?

Nationwide also have some cool paying in machines too... you slide in wads of cash or a cheque and it does everything automatically... far less hassle than going to the counter.

They should put in more machines and just have the staff fill/empty the machines. The staff are really only there now to offer you products you don't want.

By the way, have you considered getting identity protection insurance?

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All about reducing counter staff by getting rid of small transactions.

It is mainly the elderly that don't withdraw using cards and use the till, taking out their weekly pension or equivalent from savings, this is a blocking move to prevent this type of transaction taking up time.

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Nationwide also have some cool paying in machines too... you slide in wads of cash or a cheque and it does everything automatically... far less hassle than going to the counter.

The HSBC have them in most branches too and they bite!

I am glad not to have to go to the counter anymore and be sold crap.

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So drawing from a cash machine is different from drawing from the counter, how is that other than being served by a person?

Have you ever tried arguing with a cash machine?

Max cash limits falling.

Min cash limits rising.

Cheques phased out by 2017.

Electronic transactions can (and are!) controlled remotely, instantly. So too can ATMs.

It's access to YOUR money we're talking about here - use it or lose it!

Don't forget we were within minutes of the UK banking system being closed down, including ATMs. with currency controls being implemented according to Lord Myners. If/when that happens next time they will want to ensure they are prepared for it. The more transactions that are electronic - including cash ATM withdrawals - the easier it will be for them to control it.

These apparently insignificant incremental changes play into this bigure picture, if you care to pay attention.

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This is a non-story.

In fact the limit should be your single transaction cash machine limit.

Most people can do up to 2 £350 withdrawals from a cash machine per day.

So unless you already used your limit, why on earth would you need to go to the counter for withdrawals?

Nationwide also have some cool paying in machines too... you slide in wads of cash or a cheque and it does everything automatically... far less hassle than going to the counter.

They should put in more machines and just have the staff fill/empty the machines. The staff are really only there now to offer you products you don't want.

By the way, have you considered getting identity protection insurance?

You don't think it's a simple job to change 2 x £350 to 1 x £10?

Seriously?

Man, it's enough to turn you all Injin. :(

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Have you ever tried arguing with a cash machine?

Max cash limits falling.

Min cash limits rising.

Cheques phased out by 2017.

Electronic transactions can (and are!) controlled remotely, instantly. So too can ATMs.

It's access to YOUR money we're talking about here - use it or lose it!

Don't forget we were within minutes of the UK banking system being closed down, including ATMs. with currency controls being implemented according to Lord Myners. If/when that happens next time they will want to ensure they are prepared for it. The more transactions that are electronic - including cash ATM withdrawals - the easier it will be for them to control it.

These apparently insignificant incremental changes play into this bigure picture, if you care to pay attention.

So if the banking system shuts down, you won't be able to draw from a counter anyway.

So why don't you keep your money under the mattress so you have complete control of it.

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  • 141 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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