Banks notice periods for cash withdrawal
Discussion
Didn't know where to post this so I've stuck it in the lounge.
I called my bank today to give notice I want to make a "large" cash withdrawal so I can buy a car. They tell me I can't have the cash till Tuesday next week - WTF? Where do I stand on a bank being required to give me my money when I ask for it?
Presumably I don't have a leg to stand on and I just have to bend over and take it?
:fuming:
I called my bank today to give notice I want to make a "large" cash withdrawal so I can buy a car. They tell me I can't have the cash till Tuesday next week - WTF? Where do I stand on a bank being required to give me my money when I ask for it?
Presumably I don't have a leg to stand on and I just have to bend over and take it?
:fuming:
Nationwide, who in the past have been great to deal with.
Tried to phone my branch, you can't do that any more you have to go through a call center, who told me it takes 48 hours notice. Fine says I, I'll collect Friday.
Ho, no, it's 48 hours from the end of today. Fine says I, I'll collect Saturday. Ho, no, it's only on working days and Monday is a Bank Holiday.
Bugger.
Tried to phone my branch, you can't do that any more you have to go through a call center, who told me it takes 48 hours notice. Fine says I, I'll collect Friday.
Ho, no, it's 48 hours from the end of today. Fine says I, I'll collect Saturday. Ho, no, it's only on working days and Monday is a Bank Holiday.
Bugger.
i had this the other week, i transferred the money from the savings to the current and then went in to ask for it the next morning.
1st they said i was too late to get it in 24hrs as it was after 10am in the morning, luckily its recently changed to 10:30 cut off (but still in this day and age).
then i had to jump through hoops to prove the money was mine and where it had come from.
all for a poxy £3k that i had saved up the last few months for a new (to me) car.
as if someone money laundering would do it this way anyway.
1st they said i was too late to get it in 24hrs as it was after 10am in the morning, luckily its recently changed to 10:30 cut off (but still in this day and age).
then i had to jump through hoops to prove the money was mine and where it had come from.
all for a poxy £3k that i had saved up the last few months for a new (to me) car.
as if someone money laundering would do it this way anyway.
The one and only time I withdrew a large amount of money I was required to give 3 days notice (this was the Woolwich) the reasoning behind this is that if you walk in and ask for (lets say £5000) it's a fair chunk of cash, which then depletes the stock of cash for others.
Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
michaeljclark said:
Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
The point is I did order it up front - I need it for Saturday so I phoned up Wednesday. Am I supposed to believe a bank can't get a few poxy grand in to a branch in less than 6 days?If you order it up front, they put a special request in for the extra so that everyone is kept happy!
Balls to them, I'm closing my accounts and moving to another bank.
Some sellers are iffy about bankers drafts. Luckily I've got a mate who is selling his car so he is going to give me the cash, so I'm sorted now.
Edited by _dobbo_ on Wednesday 26th August 16:11
michaeljclark said:
The one and only time I withdrew a large amount of money I was required to give 3 days notice (this was the Woolwich) the reasoning behind this is that if you walk in and ask for (lets say £5000) it's a fair chunk of cash, which then depletes the stock of cash for others.
Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
Obviously the above is hypothetical, but if my bank was out of cash after a 5k withdrawal I would seriously question who i keep my money with!Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
Can you not ask for a Nationwide cheque. That is both free and same day, the same as a bankers draft so should be acceptable to the seller. If it is under 10k you don't even need ID. This is what I do these days. Anything over 10k and I handover my passport.
Saying that, I phoned HSBC the other day and asked for £14.5k in cash same day, and they kicked up a fuss, first about the fact that I had to have a cheque book with me for ID (?!) and then said they didn't keep that sort of money on the premises. I threatened to close my account with them and they finally gave in and paid out. Rather annoyingly it was £50.00 short when I came to pay the guy, so made me look like a bit of a dick, and HSBC has denied it.
Saying that, I phoned HSBC the other day and asked for £14.5k in cash same day, and they kicked up a fuss, first about the fact that I had to have a cheque book with me for ID (?!) and then said they didn't keep that sort of money on the premises. I threatened to close my account with them and they finally gave in and paid out. Rather annoyingly it was £50.00 short when I came to pay the guy, so made me look like a bit of a dick, and HSBC has denied it.
I had exactly this when I wanted 6k to pay for a car, Halifax reason was that they are a building society not a bank, I said 'but you offer a current account on the high street', got nowhere with them so I left them and now bank elsewhere.
You might find a bank more able to do it.
Dont do what I did...send the money from the building society to the bank, thinking it would be done by faster payment, then it got stuck in the banking systems for 3 days....grr.
You might find a bank more able to do it.
Dont do what I did...send the money from the building society to the bank, thinking it would be done by faster payment, then it got stuck in the banking systems for 3 days....grr.
_dobbo_ said:
Nationwide, who in the past have been great to deal with.
Tried to phone my branch, you can't do that any more you have to go through a call center, who told me it takes 48 hours notice. Fine says I, I'll collect Friday.
Ho, no, it's 48 hours from the end of today. Fine says I, I'll collect Saturday. Ho, no, it's only on working days and Monday is a Bank Holiday.
Bugger.
Ignore them and go to the Branch would be supprised if they came out with the same answer Tried to phone my branch, you can't do that any more you have to go through a call center, who told me it takes 48 hours notice. Fine says I, I'll collect Friday.
Ho, no, it's 48 hours from the end of today. Fine says I, I'll collect Saturday. Ho, no, it's only on working days and Monday is a Bank Holiday.
Bugger.
This is the difference between building societies and banks. Nationwide etc dont like to give you quick access to large sums, you accept this when you move to them from 'real' banks.
Never had any problems with natwest. Last time I bought a car I called them the day before to let them know i would want £7k in cash. No need to ring they said just turn up with some good ID and take it away. SO I did. No hassle.
Never had any problems with natwest. Last time I bought a car I called them the day before to let them know i would want £7k in cash. No need to ring they said just turn up with some good ID and take it away. SO I did. No hassle.
bigdods said:
This is the difference between building societies and banks. Nationwide etc dont like to give you quick access to large sums, you accept this when you move to them from 'real' banks.
Never had any problems with natwest. Last time I bought a car I called them the day before to let them know i would want £7k in cash. No need to ring they said just turn up with some good ID and take it away. SO I did. No hassle.
Same experience here with natwest, I've been in twice in the last month to take out £2K cash. Just had to wait 3 minutes for the safe to open and away I went. They didn't bat an eyelid.Never had any problems with natwest. Last time I bought a car I called them the day before to let them know i would want £7k in cash. No need to ring they said just turn up with some good ID and take it away. SO I did. No hassle.
I encountered this a few years ago when I tried to withdraw £6k for a car. I phoned customer services after being told in the bank they couldn't give me anything over £x amount (don't remember exactly the amount they said).
I spoke to a very helpful representative who called my local Post Office who confirmed they could pay the amount. He then authorised my card for a £6k 'cash-back' transaction which I completed in the Post Office and got my cash within an hour of my bank refusing me.
I'm sure if the Abbey can do this for you then any other could, if they can be arsed!
I spoke to a very helpful representative who called my local Post Office who confirmed they could pay the amount. He then authorised my card for a £6k 'cash-back' transaction which I completed in the Post Office and got my cash within an hour of my bank refusing me.
I'm sure if the Abbey can do this for you then any other could, if they can be arsed!
^^ I had the same with Abbey last week. I tried to withdraw £5800 for a bike, over the counter. I was told I needed to give 48hrs notice.
I rang their banking line to arrange the withdrawal at a different branch. They couldn't do it for four days! I spoke to a second branch; five days for them!!!
I said to the second bank I couldn't believe how difficult it was for me to get MY money. He said Abbey had extra hoops to jump through on withdrawals over £5K. Ok, I said, I want £4995. He could do that two days later!!! I made up the difference with a few ATM visits.
Got to the bank at the pre-arranged time. 'Have you arranged this as there's nothing in the diary?'
'You are kidding....'
Got it in the end but fk they make it hard.
I rang their banking line to arrange the withdrawal at a different branch. They couldn't do it for four days! I spoke to a second branch; five days for them!!!
I said to the second bank I couldn't believe how difficult it was for me to get MY money. He said Abbey had extra hoops to jump through on withdrawals over £5K. Ok, I said, I want £4995. He could do that two days later!!! I made up the difference with a few ATM visits.
Got to the bank at the pre-arranged time. 'Have you arranged this as there's nothing in the diary?'
'You are kidding....'
Got it in the end but fk they make it hard.
The Nur said:
michaeljclark said:
The one and only time I withdrew a large amount of money I was required to give 3 days notice (this was the Woolwich) the reasoning behind this is that if you walk in and ask for (lets say £5000) it's a fair chunk of cash, which then depletes the stock of cash for others.
Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
Obviously the above is hypothetical, but if my bank was out of cash after a 5k withdrawal I would seriously question who i keep my money with!Lets face it, you be pissed off if you walked in and asked for £100 only to be told that the bloke infornt had just cleaned them out!
If you order it up front, they put a special request in for the extra so that everyone is kept happy!
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