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More Banks Restricting Cash Withdrawals In The Uk

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http://www.thisismoney.co.uk/money/saving/article-2547286/High-street-banks-block-customers-taking-large-cash-sums-counter.html

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It comes as This is Money reported on one customer who was blocked from withdrawing more than £1,000 over the counter in an HSBC branch in Swindon.

This was despite the fact he was more than £50,000 in credit. HSBC confirmed that it may ask about the purpose of a cash withdrawal when the transaction is large, unusual and out of keeping with the normal running of a customer’s account.

Another HSBC customer who wanted to repay a family loan was told he couldn’t take £7,000 from his instant access savings account.

Counter staff informed Stephen Cotton, from Worcestershire – a loyal customer for nearly 30 years who was well-known at the branch – he had to produce a letter as proof.

A year earlier Mr Cotton had withdrawn a similar cash sum without any difficulties.

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18 months back I transferred large amounts from First direct without any hassle, but then again they have no branches.

And actually I got £5k out August last year cash at HSBC to pay for my wedding - from a first direct account via HSBC counter. Again no questions were asked.

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2 years agp i took £1600 out of a branch of santander, i was told i should have booked an appointment 24 hours prior for any withdrawal over £500. I kicked up a fuss and they let me have it that day. I got questioned about everything regarding the money and why i needed cash to buy a car from a private seller.

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2 years agp i took £1600 out of a branch of santander, i was told i should have booked an appointment 24 hours prior for any withdrawal over £500. I kicked up a fuss and they let me have it that day. I got questioned about everything regarding the money and why i needed cash to buy a car from a private seller.

It has been this way for years. Its because banks don't hold vast sums of cash within the building and need some notice of large sums that need to be withdrawn.

Cheque transfers are fine. I moved £100,000 just a few days ago.

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They barely have any tellers anymore..

You'd wait all day fr a machine to spit a few Gand out.

I'm restricted to 10K (Sfr) from the cash machines in geneva, it's a shambles I tell you.

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They barely have any tellers anymore..

You'd wait all day fr a machine to spit a few Gand out.

I went to the bank today to make a 'faster payments' payment- and had to wait ten minutes until a staff person could get hold of a private room to process the transaction.

Security issue? No- the problem was that the single girl now behind the counter can no longer carry out such exotic functions- and the rest of the staff are now wandering around the floorspace with the fixed grins of people whose job now consists mainly of wandering around the floorspace with a fixed grin.

The irony of having to wait ten minutes in order to make a 'faster payment' payment was not lost on me either- and I felt this odd nostalgia for the time when I could just go to the counter and get my business done without being pounced on by some poor girl who clearly has very little to do anymore except show people how to operate the automated teller that now does the job she used to do.

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  • 406 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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