CFarmer Posted October 14, 2008 Share Posted October 14, 2008 Recieved a notification today from Nationwide telling me there were changes to my terms and conditions. It highlighted a change which forces you to use a cash machine for withdrawals less than £30, but also stated it was adding the following to the T+Cs: Limits apply to the amount you can withdraw at a cash machine or branch counter and the amount you can withdraw from your account each day Their website has further details; turns out the upper limit is £500 a day although "You may be able to withdraw more than £500 at a Nationwide branch counter if you give us at least two full working days’ notice" withdrawal limits I wasn't sure if there was an upper limit on it before, and I didn't know if there are any other banks with an upper limit either. Anyone know of any more? It does seem sensible to restrict hard cash withdrawals to limit the effects of a run and prevent them running out of £20 notes in branch, however I thought Nationwide were a lot safer than NR, B+B etc so wouldn't have expected them needing to put anti-run terms in place. Quote Link to comment Share on other sites More sharing options...
Jason Posted October 14, 2008 Share Posted October 14, 2008 Halifax will only let you have £1k before you have to book it. Although you can get £300 from a cash machine each day too, so £1.3k max per day. When I bought my car a year ago, circa £6k, I gave 4 working days notice with Barclays (cost me a fortune ringing and booking this on my mobile) and they claimed I had never booked it when I went to collect the money so wouldn't give it to me. Of course I kicked up a big stink (I'd agreed to buy it that day) and after a 30min wait they came up with the cash. They did question me loads though. Also, when I bought my jet ski I had the same problems and couldn't wait the 3 days required. So I got out 1.3k each day... Quote Link to comment Share on other sites More sharing options...
CFarmer Posted October 14, 2008 Author Share Posted October 14, 2008 Not too bad if banks had it in place a year ago then. Was it a response to NR or have these limits always been in place? e.g. were people queueing all day to draw £500/£1000 in cash from NR last year?! Quote Link to comment Share on other sites More sharing options...
OMG Posted October 14, 2008 Share Posted October 14, 2008 I wasn't sure if there was an upper limit on it before, and I didn't know if there are any other banks with an upper limit either. Anyone know of any more? I bank with Abbey and have experienced similar, and it's not new. Well, I've tried a few times in the past to get £2-£3K for a car purchse and have been told that I needed to book in advance. Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 14, 2008 Share Posted October 14, 2008 Their website has further details; turns out the upper limit is £500 a day although "You may be able to withdraw more than £500 at a Nationwide branch counter if you give us at least two full working days’ notice" 500 sheets have been there daily withdrawal limit for a longgggg time , it's for your own security ....the notification was mainly centered around people who withdraw £30 or less at the counter , telling them to use the ATM . Quote Link to comment Share on other sites More sharing options...
Letsdance Posted October 14, 2008 Share Posted October 14, 2008 Halifax will only let you have £1k before you have to book it. Although you can get £300 from a cash machine each day too, so £1.3k max per day.When I bought my car a year ago, circa £6k, I gave 4 working days notice with Barclays (cost me a fortune ringing and booking this on my mobile) and they claimed I had never booked it when I went to collect the money so wouldn't give it to me. Of course I kicked up a big stink (I'd agreed to buy it that day) and after a 30min wait they came up with the cash. They did question me loads though. Also, when I bought my jet ski I had the same problems and couldn't wait the 3 days required. So I got out 1.3k each day... I had the same problem with my yacht, 1.3k every day for 6 months, what a pain Quote Link to comment Share on other sites More sharing options...
Wimbledon88 Posted October 14, 2008 Share Posted October 14, 2008 Their website has further details; turns out the upper limit is £500 a day although "You may be able to withdraw more than £500 at a Nationwide branch counter if you give us at least two full working days’ notice". Hmm, why do I find myself humming "Don't cry for me, Argentina" ? Quote Link to comment Share on other sites More sharing options...
CFarmer Posted October 14, 2008 Author Share Posted October 14, 2008 £500 seemed low for over the counter.. Some people can withdraw that from ATMs! Think reading some of the posts on here over the past few months has made me too twitchy.. thought they were trying to sneak it in through the back door, and couldn't see any similar limits on the Lloyds or Natwest websites! Nationwide do seem fairly strict with money. they wouldn't even give me a cheque book when I asked for one a few years ago! Quote Link to comment Share on other sites More sharing options...
Jason Posted October 14, 2008 Share Posted October 14, 2008 I had the same problem with my yacht, 1.3k every day for 6 months, what a pain Also, when I worked at a bookies in my youth, they only would pay out £500 to each punter each day. Any more would be the following day. Quite simply, banks etc only have so much money on the premises. Quote Link to comment Share on other sites More sharing options...
Guest happy? Posted October 14, 2008 Share Posted October 14, 2008 Recieved a notification today from Nationwide telling me there were changes to my terms and conditions. It highlighted a change which forces you to use a cash machine for withdrawals less than £30, but also stated it was adding the following to the T+Cs:Their website has further details; turns out the upper limit is £500 a day although "You may be able to withdraw more than £500 at a Nationwide branch counter if you give us at least two full working days’ notice" withdrawal limits I wasn't sure if there was an upper limit on it before, and I didn't know if there are any other banks with an upper limit either. Anyone know of any more? It does seem sensible to restrict hard cash withdrawals to limit the effects of a run and prevent them running out of £20 notes in branch, however I thought Nationwide were a lot safer than NR, B+B etc so wouldn't have expected them needing to put anti-run terms in place. Limiting the amount of cash withdrawn at the counter places an upper limit on the amount of cash to be held on the premises - deterring robbery. Most banks/building societies have a limit between £500 - £1k. You can get more if you ask in advance. Quote Link to comment Share on other sites More sharing options...
HappyNudist Posted October 14, 2008 Share Posted October 14, 2008 This is a reduction - N/Wide used to allow £300 per day from ATM PLUS £500 from counter - I had the same this morning, it's a right pain in the 'arris now Quote Link to comment Share on other sites More sharing options...
bendy Posted October 14, 2008 Share Posted October 14, 2008 sort of makes you wonder about injins mad theories - if you want hard cash you need to 'book' to get it out when it is a large value. however, should you want to buy a 20k car and stick it on either the credit/debit card where it's just numbers on a screen - no problem sir! Quote Link to comment Share on other sites More sharing options...
JOliver Posted October 14, 2008 Share Posted October 14, 2008 I've posted this at 10 am today as it's major development IMO (shame it was moved to ISA section). Just to repeat, "other" BS limiting withdrawals to £500/day, £1000/week. It's not publicly announced yet so no link. Clearly they already experience or expect a shortage of cash. Make of it what you will. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted October 14, 2008 Share Posted October 14, 2008 The nationwide 30 quid thing is for the very basic account. It's part of a cost cutting exercise - less staff needed at the counter. Quote Link to comment Share on other sites More sharing options...
Girly girl Posted October 14, 2008 Share Posted October 14, 2008 I'm not sure paying £6k in cash for a car is a good idea, what if it was stolen, surely a bankers draft would at least give you a paper trail and somewhere to start ? Am I the only one who feels sick with more than a ton in my purse in case it gets nicked ? Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted October 14, 2008 Share Posted October 14, 2008 I've posted this at 10 am today as it's major development IMO (shame it was moved to ISA section). Just to repeat, "other" BS limiting withdrawals to £500/day, £1000/week. It's not publicly announced yet so no link. Clearly they already experience or expect a shortage of cash. Make of it what you will. Daily limits or requirements to book are legal on the basis that there is only a certain amount of "cash" you can have in a bank. A weekly limit would not be, in any way, legal, and would FORCE a run on that bank when news got out. Quote Link to comment Share on other sites More sharing options...
yawnIHateSundays Posted October 14, 2008 Share Posted October 14, 2008 Am I the only one who feels sick with more than a ton in my purse in case it gets nicked ? No, I tread wary but I've walked about with £10K in my pocket before.... Quote Link to comment Share on other sites More sharing options...
AffordableHousing Posted October 14, 2008 Share Posted October 14, 2008 QUOTE (MrlyingOutHis@rse @ Oct 14 2008, 09:24 PM) * "I've posted this at 10 am today as it's major development IMO (shame it was moved to ISA section)". SHOULD HAVE BEEN TOTALLY ERASED. Due to latter part of it being TOTAL FABRICATION lies continue...."Just to repeat, "other" BS limiting withdrawals to £500/day, £1000/week. It's not publicly announced yet so no link. Clearly they already experience or expect a shortage of cash. Make of it what you will". Yea, I will make of it what I will. AND it's a pile of cr@p. Many Building Societies already limit cash withdrawls to £500/day, that part is true. But. WHAT 'other' building Societies are limiting cash withdrawls to £1000/week??????. UTTER CR@P, total fabricated twaddle. "It's not publicly announced yet so no link". that is a shame, now we can't verify it. There isn't a building society in the Country that limits cash withdrawls to £1000/week. I'll even bet £1000 there isn't one. Some People on this HPC site just make the twaddle up as they go along. It's one thing having a laugh about things, poking fun at the Icelandic's stuff like that. But WHAT A WHOPPA. "other" BS limiting withdrawals to £1000/week. --------------------------------------------------------------------------- It's one thing to say, I think in 2012 the average house in Britain will be worth £95,000. great, maybe it will, maybe it won't. But spreading WHAPPA's like this £1000/week stuff it's totally nowhere man, it's just unworthy. Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted October 14, 2008 Share Posted October 14, 2008 (edited) . Edited October 14, 2008 by Steve Cook Quote Link to comment Share on other sites More sharing options...
The Spaniard Posted October 14, 2008 Share Posted October 14, 2008 I went to my bank and withdrew my entire deposit on Saturday. They were warned by me the previous day of my intention. when i went down on Saturday morning they told me they would onyl give me a cheque. I went ballistic with them and said very loudly withg a huge ques behind me that I was deeply concerned that a major high street bank in the #centre of the city appeared unable to pay me may moiney in legal tender.They quickly paid up. Money in a friend's business safe up north. Out of the banking system for the immediately forseeable future. I intend to take myself "off-grid" as much as is humanly possible from now on in with regards to my financial transactions. Not easy in this day and age. But I am going to do my damnest to get as close as possible to the above ideal. Steve, well done for standing up to the bank. However, don't you think it was a bit risky letting everyone know that you would be walking out loaded with cash? Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted October 14, 2008 Share Posted October 14, 2008 (edited) . Edited October 14, 2008 by Steve Cook Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted October 14, 2008 Share Posted October 14, 2008 (edited) How can you get to insist to utility companies that they provide you with the measn to pay your bills in cassh. also, how can you force them not to penalise you for doing so? anybody got any info? Edited October 14, 2008 by Steve Cook Quote Link to comment Share on other sites More sharing options...
jonpo Posted October 14, 2008 Share Posted October 14, 2008 I dont trust im going to get it all out just so i can see it ! Quote Link to comment Share on other sites More sharing options...
scuuzeme Posted October 14, 2008 Share Posted October 14, 2008 Recieved a notification today from Nationwide telling me there were changes to my terms and conditions. It highlighted a change which forces you to use a cash machine for withdrawals less than £30, but also stated it was adding the following to the T+Cs:Their website has further details; turns out the upper limit is £500 a day although "You may be able to withdraw more than £500 at a Nationwide branch counter if you give us at least two full working days’ notice" withdrawal limits I wasn't sure if there was an upper limit on it before, and I didn't know if there are any other banks with an upper limit either. Anyone know of any more? It does seem sensible to restrict hard cash withdrawals to limit the effects of a run and prevent them running out of £20 notes in branch, however I thought Nationwide were a lot safer than NR, B+B etc so wouldn't have expected them needing to put anti-run terms in place. This is because you are a terrorist funded by drugs and illegal immigrant smuggling, as are we all, hence the need for ID cards and restrictions on "funny money" (cash, yours,as in). Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted October 14, 2008 Share Posted October 14, 2008 This is because you are a terrorist funded by drugs and illegal immigrant smuggling, as are we all, hence the need for ID cards and restrictions on "funny money" (cash, yours,as in). you're not wrong my friend..... Quote Link to comment Share on other sites More sharing options...
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