Nationwide treated me like dirt for trying to pay money IN to my account

vet8

Excuse me, am I missing something here?

Banks are there to store money. It might only be coins and not great fat wads of notes, but it is still money and the Op was trying to pay it in. I think it is ludicrous for the bank to turn it down.

My local pub cashes cheques for customers as the landlady says she is charged a lot to pay in money. Um.. Maybe I am old fashioned, but I thought banks were all about money. Notes, coins etc. or is that too much bother when they would rather sell insurance, mortages (possibly!) and other stuff.

Lokolo

vet8 wrote: »

Excuse me, am I missing something here?

Banks are there to store money. It might only be coins and not great fat wads of notes, but it is still money and the Op was trying to pay it in. I think it is ludicrous for the bank to turn it down.

My local pub cashes cheques for customers as the landlady says she is charged a lot to pay in money. Um.. Maybe I am old fashioned, but I thought banks were all about money. Notes, coins etc. or is that too much bother when they would rather sell insurance, mortages (possibly!) and other stuff.

Well banks don't have unlimited space do they?

If every customer bought in 10+ bags each then where will the money be stored?

Also theres a time issue. If someone brings in 20 bags of coins, theres customers waiting etc. and it doesn't bother me but you know what people are like 'oh !!!!!! why are they taking so long, why bring in all these coins' etc.etc.

oxenryd

Banks are there to MAKE money, not store it.

If they could have no money in branches, they would love it as no cost of insurance for it, processing ..............

Long gone are the days of the banks like in Mary Poppins (Looking after your money)

vet8

Lokolo wrote: »

Well banks don't have unlimited space do they?

If every customer bought in 10+ bags each then where will the money be stored?

Also theres a time issue. If someone brings in 20 bags of coins, theres customers waiting etc. and it doesn't bother me but you know what people are like 'oh !!!!!! why are they taking so long, why bring in all these coins' etc.etc.

I agree it can be a pain standing in the queue behind someone paying in loads of coins, but in my local branch of Lloyds every damn customer seems to take ages regardless of what they are doing. I don't think paying in coins takes any longer than some of the other things they seem to do. :eek:

Also surely banks have safes for the cash!

opinions4u

vet8 wrote: »

Excuse me, am I missing something here?

Yes.

Banks are there to store money.

They are there to take deposits to lend on. They can't make profits if they store it.

It might only be coins and not great fat wads of notes, but it is still money and the Op was trying to pay it in. I think it is ludicrous for the bank to turn it down.

It's a clearly stated condition of doing business with certain banks.

My local pub cashes cheques for customers as the landlady says she is charged a lot to pay in money. Um.. Maybe I am old fashioned, but I thought banks were all about money. Notes, coins etc.

No, coins are designed to circulate within the cash economy. Not to sit in a bank vault.

or is that too much bother when they would rather sell insurance, mortages (possibly!) and other stuff.

Do you have the remotest grasp of economics? If they stopped selling stuff how would they operate as a business?

dacouch

I_know_my_ABC_and_my_CMYK wrote: »

I had to pay into my NW account shortly after I opened it approx. £6.50 to cover a DD. Anyway I got away with as the cashier said she would take it but only because they were actually short of cash that day.

Was the day she went in this day? http://www.money.scotsman.com/scotsman/articles/articledisplay.jsp?section=Banking&article_id=9965927

MadDogWoman_2

Damoandclaire - I've had exactly the same problem with Nationwide, I'm currently transferring to Abbey who have happily given me an Electron card.

I've spent the last 3 years trying to upgrade my account, never overdrawn etc, but no luck and no valid reason.

Nationwide also have the 5 bag rule for Childrens accounts. Fortunately I live 5 mins away with free car parks so it's not too much hassle.

MDW

dunstonh

They are there to take deposits to lend on. They can't make profits if they store it.

not only that, they are actually charged for having money held.

Damoandclaire - I've had exactly the same problem with Nationwide, I'm currently transferring to Abbey who have happily given me an Electron card.

Abbey also have the restrictions on coinage.

Extant

vet8 wrote: »

Also surely banks have safes for the cash!

To really hammer this point home: Nationwide is not a bank. They are a building society.

There is a marked difference in how the two operate, and how the two are handled - especially insurance wise.

Building societies do not typically handle large amounts of cash, because they do not typically handle businesses. This significantly impacts on the size and needs of a branch, and the reality is that they have smaller premises, smaller strong-rooms (if they have rooms at all, perhaps just a safe) and are thus insured for less.

It's a very serious reality that they may just run out of space for coin. If your attitude is that it's not your problem, it is your problem - Nationwide are not obligated to accept your cash in the same way that shops don't have to take your £50 notes.

If you don't like it from a service issue, then log your complaint and go to someone who can provide that service to you.

Roo_Roo_3

I too was humiliated by Nationwide while trying to pay money IN.
After handing the cheque over the counter, i was asked to sign the paying in form. This I did only to be told my signature did not match my signature on my card.
It was bloody cold outside and my hands were numb, I explained.
She handed me another form to sign. Again she questiobned it with colleagues at the other tills. "What kind of crook pays money into an account with a forged signature?" I asked. Finally the manager saw sense and allowed me to pay my money into my account. Pathetic service.