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Bank rules.... Rubbish
acliffe
Posts: 6 Forumite
Right time for a rant..........
I was wondering if anyone could give an explanation to this question, it involves banks, are favourite places
, I went to my local Natwest today to withdraw money from their ATMs and to then change it in their branch to coins, I am NOT an account holder with Natwest, but they asked if i had an account to which i replied "no" and they said they couldn't do it because i didn't have an account, which i find completely ridiculous because i took money (i have an account with Lloyds) out of their ATM but they can't change a £10 note into coins, to me this is completly stupid and needs to be changed, banks keep going on about "free banking" and "our banks are brilliant" but only if your an account holder.
I hope someone can help me with this please, as i've sent emails to both Natwest and Lloyds and neither can give me a straight answer, only its the banking regulations, but someone must have a reason to put this in the banking regulations for then all to do it!!?? There has to be a reason.
Hope some one can help, as its driven me mad with anger :mad:
Al
I was wondering if anyone could give an explanation to this question, it involves banks, are favourite places
, I went to my local Natwest today to withdraw money from their ATMs and to then change it in their branch to coins, I am NOT an account holder with Natwest, but they asked if i had an account to which i replied "no" and they said they couldn't do it because i didn't have an account, which i find completely ridiculous because i took money (i have an account with Lloyds) out of their ATM but they can't change a £10 note into coins, to me this is completly stupid and needs to be changed, banks keep going on about "free banking" and "our banks are brilliant" but only if your an account holder.I hope someone can help me with this please, as i've sent emails to both Natwest and Lloyds and neither can give me a straight answer, only its the banking regulations, but someone must have a reason to put this in the banking regulations for then all to do it!!?? There has to be a reason.
Hope some one can help, as its driven me mad with anger :mad:
Al
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Comments
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Why would you expect a bank that you do not bank with to change your money for you?Gone ... or have I?0
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When you took money out of the Nat West ATM, Lloyds paid Nat West for that service (30p - 40p) which Lloyds will earn back off you from looking after your money in your account (this might be via an annual fee, earning a differntial rate of interest or one of any number of other ways). It costs Nat West (& all banks) time & money to process cash, coin even more so. if you're a small business, most banks will charge you to deposit or withdraw coin.From MSE Martin - Some General Tips On Holiday Home Organisations and Sales Meetings
DO NOT TOUCH ANY OF THEM WITH A BARGEPOLE!0 -
ts_aly2000 wrote: »It's because of money laundering rules introduced by the Blair/Brown Reich.
They need to make sure that 5-year olds and OAPs aren't funding secret terrorist cells in 1s and 2s.
1.Money laundering regulations came in way before 1997. Much though I'd love to, it's not fair to blame this on Tony Blair.
2. To the OP, as dmg24 says, why do you expect a bank you DON't bank with toprovide you with a free service. Either open an account in NatWest or go to Lloyds for your change.Gwlad heb iaith, gwlad heb galon0 -
"Why would you expect a bank that you do not bank with to change your money for you?"
"You're angry because? Do you really expect a Bank you don't Bank with to supply you with a service for free? Why didn't you go to your own Bank?"
You say that DMG24 and Labman but how come i can go into my local Spar and they will do it with out any hassle and for free, and i dont even buy anything from them!!! so if a small company like that can do it (with the so called charges for processing cash etc) how come a HUGE bank can't.0 -
Because Spar have to pay THEIR bankers money to pay in coins - coins are not wanted by the banks or the retailers.
It's great for a retailer to be able to dump excess coinage on a customer who comes in asking for it.
The opposite applies to the banks - they don't get excess coinage to the same extent (or that which they do get is nicely bagged up in £20 bags) and they don't want their counter staff's time "wasted" on non-productive business.
As others say, banks talk about free banking for their customers but not about providing free services to non-customers - why should they? Banks are NOT a social service.0 -
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Sorry... I have to agree, I dont see why the bank should change money for you if your not one of there customers.
Its like going into Burger king and asking for a Big mac (In a strange sort of way)
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Why would you expect a bank that you do not bank with to change your money for you?
Agreed
as does everyone else here!
Looks like its the OP who doesnt understand how banks work! dont think they will come back - probably too embarrassed! !0 -
Why didnt you just go into a shop and buy someting and use a note to get whatever change you need,No Links in Signature by site rules - MSE Forum Team 20
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