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| Version 0 | Version 1 |
|---|---|
| Nationwide bans small withdrawals | Nationwide bans small withdrawals |
| (4 days later) | |
| Nationwide Building Society is to stop some customers taking out less than £100 over the counter at its branches. | Nationwide Building Society is to stop some customers taking out less than £100 over the counter at its branches. |
| From 7 June customers with cash cards who want smaller amounts will have to use a cash machine. | From 7 June customers with cash cards who want smaller amounts will have to use a cash machine. |
| The change will not apply to people with debit cards, or those who still use a passbook. | The change will not apply to people with debit cards, or those who still use a passbook. |
| Nationwide said the change was needed to reduce queues in its branches and that there were alternatives for those affected. | Nationwide said the change was needed to reduce queues in its branches and that there were alternatives for those affected. |
| But Mike Ivatt, from Kent, told Radio 4's Money Box his 83-year-old father would not feel happy taking out cash in the street and probably could not remember his PIN. | But Mike Ivatt, from Kent, told Radio 4's Money Box his 83-year-old father would not feel happy taking out cash in the street and probably could not remember his PIN. |
| 'Sad indictment' | 'Sad indictment' |
| "The service my father has received at the counter has been excellent," he said. "Older people need that service." | "The service my father has received at the counter has been excellent," he said. "Older people need that service." |
| He said his father may have to stop doing his own financial transactions. | He said his father may have to stop doing his own financial transactions. |
| "Building societies were established to look after their members and it's a sad indictment when a large proportion of those members are going to have to hand over the running of their accounts to other people," Mr Ivatt added. | "Building societies were established to look after their members and it's a sad indictment when a large proportion of those members are going to have to hand over the running of their accounts to other people," Mr Ivatt added. |
| Nationwide wants customers to make more use of cash machines | Nationwide wants customers to make more use of cash machines |
| Nationwide's divisional director of the branch network, Graeme Hughes, told Money Box that the change was essential. | Nationwide's divisional director of the branch network, Graeme Hughes, told Money Box that the change was essential. |
| "About a third of all counter transactions are carried out by less than 8% of our customer base," he said. | "About a third of all counter transactions are carried out by less than 8% of our customer base," he said. |
| "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." | "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. | He said people could change accounts, or use cash machines. |
| "I do recognise that for some customers, what we're asking them to do won't be particularly good for them," he said. | "I do recognise that for some customers, what we're asking them to do won't be particularly good for them," he said. |
| "What we are looking to do is help them use the cash machines, so we are giving them two months' notice so that we can talk to customers to help them." | |
| However, Nationwide is telling another group of customers that they will have to queue up. | However, Nationwide is telling another group of customers that they will have to queue up. |
| On principle, I thought the building societies might be different Steve Harrison, Nationwide customer | On principle, I thought the building societies might be different Steve Harrison, Nationwide customer |
| It is withdrawing the use of FAST/Selfserve machines for the paying-in of cheques of more than £1,000 - the current limit is £10,000. | It is withdrawing the use of FAST/Selfserve machines for the paying-in of cheques of more than £1,000 - the current limit is £10,000. |
| The reason given is that larger cheques are more likely to be fraudulent and counter staff would be more likely to spot them. | The reason given is that larger cheques are more likely to be fraudulent and counter staff would be more likely to spot them. |
| But Steve Harrison, a Nationwide customer from Lancashire, thought there was another reason. | But Steve Harrison, a Nationwide customer from Lancashire, thought there was another reason. |
| He said: "It seems like they're trying to get rid of relatively poorer customers and the low value transactions, and trying to focus on selling products, which the banks have done for a long time. | He said: "It seems like they're trying to get rid of relatively poorer customers and the low value transactions, and trying to focus on selling products, which the banks have done for a long time. |
| "On principle, I thought the building societies might be different." | "On principle, I thought the building societies might be different." |
| The Nationwide leaflet which explains the change says it will "fight fraud as well as giving you the opportunity to talk to one of our consultants to try to help you get the most from your money". | The Nationwide leaflet which explains the change says it will "fight fraud as well as giving you the opportunity to talk to one of our consultants to try to help you get the most from your money". |
| Mr Hughes denied that the change was to do with selling better-off customers other services. | Mr Hughes denied that the change was to do with selling better-off customers other services. |
| "By reducing the amount to £1,000 we are trying to protect our members," he said. | "By reducing the amount to £1,000 we are trying to protect our members," he said. |
| Nationwide is also introducing a £10 charge for drafts of less than £1,000 obtained at the counter, and the same charge for stopping a cheque. | Nationwide is also introducing a £10 charge for drafts of less than £1,000 obtained at the counter, and the same charge for stopping a cheque. |
| What do you think of this new policy? | What do you think of this new policy? |
| Is it reasonable to turn customers away from the counter if they are withdrawing £100, or less? | Is it reasonable to turn customers away from the counter if they are withdrawing £100, or less? |
| How important is it that building societies offer a more personal service to customers than banks do? | How important is it that building societies offer a more personal service to customers than banks do? |
| Do you think building societies are becoming more like banks in their approach to customers? | Do you think building societies are becoming more like banks in their approach to customers? |
| Tell us your experiences. | Tell us your experiences. |
| Send us your views | Send us your views |
| The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions | The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions |
| The comments we publish are not necessarily the views of the BBC but will reflect the balance of views we have received. It is helpful if contributors state if they work for any organisation relevant to an issue discussed. Readers should form their own views on whether messages published represent undeclared interests, or views prompted by a common source. Occasionally Money Box or Inside Money may wish to contact Have Your Say contributors about future programmes. If you find this acceptable we ask you to include your e-mail address. | The comments we publish are not necessarily the views of the BBC but will reflect the balance of views we have received. It is helpful if contributors state if they work for any organisation relevant to an issue discussed. Readers should form their own views on whether messages published represent undeclared interests, or views prompted by a common source. Occasionally Money Box or Inside Money may wish to contact Have Your Say contributors about future programmes. If you find this acceptable we ask you to include your e-mail address. |
| BBC Radio 4's Money Box is broadcast on Saturdays at 12 noon, and repeated on Sundays at 2100h. Download the podcast. | BBC Radio 4's Money Box is broadcast on Saturdays at 12 noon, and repeated on Sundays at 2100h. Download the podcast. |