Sunday, April 11, 2010

Nationwide restricts cash withdrawals

Nationwide restricts cash withdrawals

Nationwide said the change was needed to reduce queues in its branches and that there would be alternatives for those affected. It said that about a third of all its counter transactions were carried out by less than 8pc of its customer base.

Posted by mark @ 03:10 PM (2493 views)
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18 thoughts on “Nationwide restricts cash withdrawals

  • ATMs are cheaper to operate than staff at a counter so it’s not surprisng that Nationwide want to discourage their customers from using this expensive service for small sums. The spin about “improving other services and to focus on resolving complaints quickly and locally” is complete nonsense of course – it’s all about saving money.

    Tesco’s introduction of the self service checkouts is another example of this trend – labour competing with capital.

    I’m not sure what this has to do with HPC (‘banking holidays’ or ATMs mysteriously not working are a different matter.)

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  • Regarding self service checkouts… I refuse to use them as they are obviously designed to enable the big stores to save money on employing staff. I like to think that “Every Little Helps” when it comes to saving a few jobs!

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  • Much easier to flick an ATM switch to refuse en-masse cash withdrawals during a bank run than to deal with angry customers vocalizing their concerns about bank stability in long lines at the cash desk.

    But of course, its not about that is it. Besides if it was I’m sure they’d tell us … wouldn’t they … ?

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  • @paul

    Nah, I don’t see a conspiracy here. Personally, I expect to see a ‘banking holiday’ if there’s another big retail bank crisis. No need to worry about arguing with angry mobs because the bank will be closed. The ATMs and debit cards won’t work either, of course, which is why having a little paper cash tucked away might be a good idea.

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  • the logic for placing this article on here quiet guy nearly got it..

    reduction in the need to labour in shops = less people employed = greater unemployment

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  • Paul – not sure I’d be taking money out in <£100 chunks if there was a bank run....

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  • little professor says:

    Good riddance. Fed up of doddery old pensioners holding up the queues to get their £20 out when they could have just gone to the ATM. They need to move with the times.

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  • LP. You sound like that Labour candidate who has been chucked. Sick of the coffin dodgers at the post office on pension days 🙂

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  • tenant super says:

    To join LP in his grumbliness – I don’t get people who say they can’t use computers. ATM phobia is a bit like PC phobia but PCs and ATMs are as easy to operate as a fan oven. People wouldn’t have much sympathy with someone who refused to learn how to use an oven.

    The post office should have one counter for such refusers (remember free internet is available in libraries) so they can stand in line all day to get their pension or sort out their car tax, so the remaining counters can be kept open for postal services only. Better still, online label printing from the post office should automatically give an electronic proof of posting so I don’t have to go in the first place.

    I do agree that the connection of this article with HPC is somewhat tenuous.

    If someone invents technology that reduces need for staff, we shouldn’t suppress the technology just to save jobs, particularly souless jobs that are by nature very automated. That makes no sense at all. By the same logic, the whole industrial revolution was a bad idea. The truth is, if standards of living improve due to technological development, birth rates will drop so we won’t need so many jobs anyway. The birth rate of the indigenous briton is 1.8 below the 2.2 needed to sustain the population so if we had strict immigration, we’d be on a slow but steady population decline.

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  • Elderly apartheid?

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  • tenant super says:

    Not necessarily… I know lots of technophobic middle aged and younger folk

    and the semi-retired professor who supervised my undergraduate dissertation was well into his seventies and successfully persevered with getting to grips with the latest electron microscope, far more complex than an ATM!

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  • TS, don’t know if you remember decimalisation, but that caused a lot of confusion initially, these things take time and guidance and of course money. The average professor is probably more inclined to learn new tricks than someone who has spent most of his or her life
    shoveling coal or working on a production line. Old people have been through a lot already don’t forget.

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  • tenant super says:

    The charge often laid is that I grew up with computers but I didn’t. I learned to use them for the first time in my early twenties and it didn’t seem much different for me than my father who learned in his early sixties.

    My mother, a housewife and former care home assistant of average intelligence was a technophobe. Once we explained ebay to her, the lure of second hand designer shoes acted as a great motivation for her and she very quickly learned how to use a PC. Mr TSs elderly parents (a former metal worker and housewife) learned because skype was the only way of staying in touch with their grandchildren in Australia. The moral being that almost everyone can and will learn when there is sufficient motivation. There are lots of free courses available to those without children or grandchildren to show them. The truth is as long as we continue to patronise people by acting as though they can’t learn and therefore providing alternatives we reinforce the belief that it is in someway difficult and remove any incentive for them to learn this basic skill.

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  • TS you have made a good argument. It is time for me to catch some zzzz,s, good night. NP.

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  • tenant super says:

    Thank you NP. I have lots of OAP friends (I mean real friends not people I patronise by feeling sorry for and befriend in a kind of ‘help the aged way’) and I was often surprised when I found out how old they were (the eldest has just turned eighty). My surprise was due to the dissonance between the way society describes older people (mentally deficient, emotionally retarded, stuck-in-a-set-way, lonely, dependent and waiting for God) and the reality I found (within the normal range of intelligence, articulate, independent, happy to try new things and enjoying life)!

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  • I mean real friends not people I patronise by feeling sorry for and befriend in a kind of ‘help the aged way’

    A great song. Especially for a Monday morning. Has the line: “Help the aged. At one time they were just like you … drinking, smoking, sex and sniffing glue …”

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  • This is just a publicity stunt by NW. Occasionally they like to be in the news about something to make sure no one forgets they are there.

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  • I am a Nationwide customer and the staff attitude to customers is appalling-beyond appalling! They are a total loss to understand why they are so hated! The staff treat every customer in a patronising manner, the less they have in their account, the more patronising. When you ask for cash they tell you to go to the post office next door.

    Please, if they do this top you say “OK, but I want my £50,000 in the savings account moved there too, the interest rates are better”, and they will quickly serve you.

    Banking is money for nothing. Business can’t lend a penny so where are they “investing” our money.

    At the “Casino” of fuel price, house price and commodity price speculation, forcing up petrol pump prices every day that passes.

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