Property News · September 12, 2015

Want to make a big cash withdrawal? Don’t bank on being allowed


The case of a Barclays customer denied access to an amount larger than £1,100 lifts the lid on secret withdrawal rulesIf you had £12,000 sitting in your current account, and you walked into your local branch to make an over-the-counter cash withdrawal, what’s the maximum you would expect to be able to take out? Would you be surprised to be told that each branch of your bank has its own “secret” no-notice maximum withdrawal? And would you be shocked to discover your branch has opted not to keep much cash on the premises … even though it is, after all, a bank?These are questions some bank customers may wish to ponder after hearing about the experience of retired civil servant Nick Robinson. He has accused Barclays of effectively “denying customers access” to their money after he walked into his local branch to withdraw £1,570 in cash in order to pay a bill. Continue reading…

Source : theguardian.com
Read more…Want to make a big cash withdrawal? Don’t bank on being allowed

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