Nationwide charging to draw cheque?!

noh

opinions4u wrote: »

I find it a little uncomfortable that a building society, effectiely a savings and mortgage company, should charge a member to withdraw their own money from a savings account. Bank accounts and other non-traditional building society services - fair game I say. But when cash or cheque are the only ways to withdraw - I think it should be something accounted for in the price of the account (interest rate set)..................................................................................
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Although the OP hasn't stated which account it was I suspect the account in question is the Cash Card account which is Nationwides basic current account which has no cheque book.
http://www.nationwide.co.uk/current_account/managing_your_account/cash_card_account.htm

I cant find the info on their site but believe there are counter restrictions on this account including minimum cash withdrawal amounts and charges for counter cheques below 1K.
I thought these changes were introduced last year. I remember seeing posts on here.

Edit:
Found this on BBC website from April last year. See last paragraph.
http://news.bbc.co.uk/1/hi/business/8613166.stm

katy2

mhhm, the cheque I wanted written was for more than 1K, it was a withdrawal from cashbuilder book account.

Fenchurch1981

It was an instant access savings account, btw. Spoke to Mum last night to gently suggest internet banking, and she rightly pointed out that besides anything else she likes to put cheques in birthday/Christmas cards and that internet transfers 'aren't the same'. So she's going in today to draw her Christmas cheques and in future she'll take cash out to give to my Dad, who can write cheques, and think about moving to a different bank - which she can't do before Christmas as it's such a hassle!

Gromitt

Wouldn't it be easier to open a FlexAccount and use the cheque book you are given with the account?

opinions4u

Gromitt wrote: »

Wouldn't it be easier to open a FlexAccount and use the cheque book you are given with the account?

It would be for many. But little old ladies are quite attached to their savings passbooks.

So much so that they are prepared to miss out on more interest or convenience.

Bernard_Coleslaw

Might be worth looking at other building societies that have passbook accounts from which you can draw cheques over the counter. Interest rate might not be great, but at least she'll have the functionality.

callum9999

opinions4u wrote: »

It would be for many. But little old ladies are quite attached to their savings passbooks.

So much so that they are prepared to miss out on more interest or convenience.

She could have one of each. Leave the flexaccount dormant until you want a cheque, then go in and transfer the money across in-branch whenever you need to.

Though I do realise what seems incredibly simple for us doesn't necessarily seem so for those stuck in their ways!

MoneySaverLog

opinions4u wrote: »

I suppose what they're saying is £1,000 or less take cash, over £1k it's a cheque.

I certainly don't like walking around with large amounts of cash on me, let alone a pensioner. You don't know who is watching.

Though I take the point £15 is rather on a the small side for a cashier cheque. May be she could open a flex account which comes with a cheque book I believe. That would allow her to write her own cheques and does not have to come with internet banking.

samwsmith1

If you have a Skipton Building Society near you they issue cheques for free on their branch based passbook accounts, albeit the interest is only 0.5% last time I checked.