Banks' customer rules to change

[Legal Beagles]

Limits are being set on counter withdrawals and internet transfers at two major UK banks in the coming months.

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[natweststaffmember]

Re: Banks' customer rules to change

HSBC and Alliance & Leicester set new banking rules

Page last updated at 12:19 GMT, Wednesday, 26 May 2010 13:19 UK

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Waiting at the bank counter was more common in the 1970s Limits are being set on counter withdrawals and internet transfers at two major UK banks.
Basic account customers will not be allowed to take out amounts of less than £300 from the counter at Alliance & Leicester from 1 July.
And, from August, HSBC customers may be required to make a telephone call to confirm internet transfers people they rarely send money to.
The bank said the move was designed to tackle fraud.
Counters A number of banks and building societies have made changes to their counter services in an attempt to cut queues at branches.
From 7 June, Nationwide Building Society customers with cash cards who want to withdraw amounts of less than £100 will have to use a cash machine. The change will not apply to people with debit cards, or those who still use a passbook.
Now Alliance & Leicester has announced that, from 1 July, the counter withdrawal minimum for customers with the basic bank account will rise from £250 to £300.
The change aims to bring the bank brand in line with other banks in the Santander group, which already have the £300 level set.
The 278 branches of the Alliance & Leicester will be renamed as Santander later this year. More than a thousand former branches of the Abbey and Bradford & Bingley banks are already undergoing the name change.
Online banking In a separate move, HSBC said some of its customers may be required to make a telephone call for security checks for rare cash transfers made on the internet.
Alliance & Leicester is changing its rules on counter withdrawals From 1 August, payments to somebody who has not previously received a transfer from the account for 13 months may be blocked until the call is made.
Payments for utility bills or regular direct debits will be unaffected.
However, if, for example, somebody wants to pay a friend who they have not paid money to over the previous 13 months, then the payment will be blocked until the payer calls telephone banking or visits a branch.
The upper limit on such payments remains the same at £10,000 a day.

[Amethyst]

Re: Banks' customer rules to change

Just came across this whilst looking for something else.

This is terrible and discrimatory against basic account holders. The cash machine has to be used for lower withdrawals, but of course can only be used to withdraw in multiples of £10. So if you have £68 in your account and want £65 to pay an urgent bill, you have to take £60 out the cash machine and try find the £5 from somewhere else ????????????

Or what if you lose your card ? forget your pin ? etc. Takes days to sort out and what if you need to take money out in the meantime (yes you can over counter with out card using ID etc) Basic account customers dont have £300 to take out ffs.

Quote BBC June 2010
'' For example, Santander has a minimum withdrawal of £300 across most of its outlets, which include the Abbey. Alliance and Leicester will introduce the limit at the beginning of July.
At HSBC, basic bank account holders cannot make cash withdrawals at the counter, but they can make other transactions. ''


Nationwide have a £100 minimum counter withdrawal.




So basically they are restricting access to your money which you CANNOT get (under £10) and mainly on people who would want to take out lower and more precise amounts as these restrictions are on in the main, basic bank accounts, especially as people with these accounts may be in receipt of benefits, after the government have pushed them into having an account. When you are on £65 a week you need to take out £65 a week from the bank - now you just can't, you have to take out £60 one week and £70 the next via a cash machine. ALSO with my Lloyds account, I have to travel to a lloyds machine to use the ATM anyway because they wont let basic accounts use LINK - so thats money down the loo on travel just to get your money out.



They really arent getting any better are they. Is this new practise being investigated ?

[enaid]

Re: Banks' customer rules to change

OH went to hole in wall RBS and that would only payout in £20 so if you had £15 in your account you were stuffed.

[WendyB]

Re: Banks' customer rules to change

Have recently discovered a HSBC cash machine that dispenses £5 notes!! It's been a godsend, especially when it's the day before payday and I've only got 5.23 in my account - like today lol. I will have to pop down there later otherwise my car will be attempting to travel to work on fresh air and petrol fumes in the morning......

[Amethyst]

Re: Banks' customer rules to change

There has been some discussion recently about having £5 note machines, I havent found one yet. Which bank was it that was going to have £5 note ONLY machines ?

[WendyB]

Re: Banks' customer rules to change

Barclays always used to dispense fivers but that stopped a few years ago. This one is HSBC they have 3 ATMs outsde the branch, but only 1 which dispenses £5 notes.

[leclerc]

Re: Banks' customer rules to change

A cash dispenser supplying only five pound notes is to be installed in Oakham.

Only 21??
------------------------------- merged -------------------------------
http://www.independent.co.uk/news/uk...s-2012471.html

Or a more recent article.....

[pompeyfaith]

Re: Banks' customer rules to change

That will be a slow uptake because dispensing £5 notes will lose the banks money in charges.

And as Ame has just proved people will forget about it and nothing will be done indeed that announcement was just a smoke screen to show that measures are being taken to even the fairness.

PF