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Nationwide restricts cash withdrawals over counter

Limitation on withdrawals under £100 from 7 June

Nationwide Branch

Nationwide Building Society is to stop some customers from withdrawing less than £100 over the counter at its branches.

The move, which will come into effect on 7 June, will mean people with cashcards who want smaller amounts will have to use a cash machine.

Nationwide said the measures were needed to cut queues at its branches and insisted people would be provided with alternative ways to get their cash.

The building society has said that the change would not apply to customers with debit cards or those who used a passbook.

For more information on the best current accounts read our expert reviews.

An attempt to cut down queues

Nationwide’s divisional director of the branch network, Graeme Hughes, said the change was essential, commenting: ‘About a third of all counter transactions are carried out by less than 8% of our customer base and the other 92% say “what can you do to speed up the queues?” So what we’re trying to do is to look at alternative ways of dealing with these customers.’

He said people could change accounts or use cash machines and added that the lender was giving customers two months’ notice so that it could help them use the cash machines. His comments came as fears were raised over the ability of elderly people to learn to use the cash machines and remember their Pin.

Which? research on Pin safety

Recent research from Which? has indicated that one in ten consumers are placing themselves at risk because they write down their Pin or tell it to someone else. Keeping the written Pin in your handbag or wallet can compound the problem. You should change the number to something that you can remember.

If you’re unhappy with Nationwide’s move on cash withdrawals, it’s worth considering another of our current account Which? Recommended Providers.

pound coins

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