Nationwide customers need to be aware of £2,500 rule | Personal Finance | Finance
Nationwide customers should be aware of a cap limiting the amount of cash that can be paid in at an ATM during a single day. Deposit restrictions vary according to the payment method and currency type, with different regulations applying to cash and cheques.
Whilst the building society’s guidance explains that members can pay in up to £50,000 daily in cheques at a Nationwide ATM, with a maximum of £2,000 per individual cheque, cash deposits are subject to tighter restrictions. Nationwide account holders are limited to depositing just £2,500 per day at its ATMs and can usually take out up to £500.
- Check an account balance
- Pay bills or transfer money to existing payees
- Change or unlock a PIN
- View and print a mini statement
Different rules may apply to other banks. If you need further help, visiting a Nationwide branch may be advisable. There are currently 605 branches in the UK.
According to a previous report by the Express, guidance from Nationwide’s website adds: “Visit our branch colleagues for help with cash withdrawals and deposits. You can also order counter drafts for higher amounts if needed.
“Our branches are a valued part of the community. That’s why all 605 of them are remaining open until at least the start of 2030. That’s our Branch Promise.”
The building society’s ‘Branch Promise’ comes amid a backdrop of widespread bank closures across the country. According to Which?’s figures, over 6,600 bank and building society branches have shut since January 2015, representing approximately 53 closures monthly.
Multiple banks, including Lloyds, Halifax, NatWest, and Ulster Bank, have contributed to this trend, though Barclays has been most dramatically affected, closing 1,236 branches.
Certain Nationwide account holders can also use their nearest Post Office to view their balance or withdraw up to £500. This applies to customers with the following accounts:
- FlexAccount
- FlexPlus
- FlexDirect
- FlexBasic
Online advice from the Post Office adds: “We work with most major UK banks to provide cash withdrawals and cash and cheque deposits in lots of our branches. You can also check your balance. With some business accounts, you can also request change.
“The services available for each bank and how they work may differ slightly from bank to bank.” It also continues: “Some banks may charge for selected services, so please speak to your bank for details if you’re unsure.”
More sophisticated services, including account opening and loan applications, are unavailable at Post Offices. You can locate your nearest branch on the Post Office’s website here.
Ensure our latest headlines always appear at the top of your Google Search by making us a Preferred Source.
Click here to activate or add us as your Preferred Source in your Google search settings.
