Join the Community

22,714
Expert opinions
43,940
Total members
363
New members (last 30 days)
189
New opinions (last 30 days)
28,921
Total comments

Beating Nationwide's Over the Counter Ban

Brilliant initiative from Nationwide, to restrict peoples' in-branch access to their own cash.  It ignores those who don't want to draw £100 or more out and don't trust cash machines (like many elderly); nor does it help those who want coins for some or all of their withdrawal.  I know a number of people who have kids at school age, and they need to withdraw coins to pay bus fares, lunch etc.  None of them draw out as much as £100 in one go.  Luckily, none of them bank with Nationwide...  Likewise, those who go into branches to withdraw because they want £5 notes, which are pretty hard to get hold of through an ATM these days.

Anyway, there's an easy way round this - which will make the queues longer.  If you want £50, simply go in, draw out £100 and immediately pay £50 back in.  Doubles the length of time you are in the queue, but you still get the £50 over the counter you wanted.

If people did that, how long before they reversed the policy?

Maybe they just need more cashiers.  It's called customer service...

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

22,714
Expert opinions
43,940
Total members
363
New members (last 30 days)
189
New opinions (last 30 days)
28,921
Total comments

Trending

Nicholas Holt

Nicholas Holt Head of Solutions and Delivery, Europe at Marqeta

Navigating Financial Fluctuations with Flexible Solutions

Ivan Nevzorov

Ivan Nevzorov Head of Fintech Department at SBSB FinTech Lawyers

RWA Token Regulations in 2025: How to Launch Successfully

Now Hiring