Large amounts of cash?


#1

Just a quick one,

If I wanted to withdraw say £2,000 from
My account - how would I do this? Is there any talk on large transactions ?

Thanks :pray:


#2

Very good question. Maybe NatWest as we can pay money in with them.


#3

This is why until I have full unristricted access to my money I won’t close my old high street bank.


#4

£2000, eh? Unmarked bills? :wink::wink:


#5

Not sure you ever have that with a bank, though Zack


#6

I think all banks have these type of restrictions, however it would be great if there is a solution in the works for this :slight_smile:


#7

It’s actually a pretty good consideration before closing your legacy account.

Sometimes it’s necessary to withdraw cash for purchases such as buying a used vehicle privately etc.

I know there are alternatives like cheques (not with Starling) or bankers drafts, but sometimes people will only accept cash.

It’s these little inconveniences that make it difficult to move over entirely, even if they don’t occur that often.

I was quite pleased a couple of weeks ago when I got a tax refund from the DVLA and just popped up to the top of the street and paid the cheque in over the counter at my legacy bank (passing a post office and Paypoint on the way).


#8

Exactly the same issue currently being discussed on the Monzo site right now.

Important issues - access to larger than average cash sums and, for some, a cheque book.
I was joking elsewhere about the cheque book being an upcoming Starling feature, of course.

Truth is, though, these things (albeit generally rare) matter a lot to some.


#9

All banks have these restrictions until you pick up the phone. I’ve drawn more after a call and booking a day to collect larger amounts. Not a problem with a legacy bank. Not sure how Starling would cope with this?


#10

Yep, RBS we’re fine with this. I phoned and said how many £1000s I wanted to withdraw, made an appointment and they had the money ready. They even escorted me to my car, after offering to do so, after I’d made the withdrawal.


#11

It’s for me to put a deposit down on a caravan, as I want to have someone where I can go and have short breaks away when ever we want to really and relieve the stresses from work :wink: and don’t feel comfortable with a bank transfer as the other party could say ‘didn’t receive it’ cash sometimes is king :prince:


#12

I have withdrawn £2500 from NatWest without giving noticed before but was told you are meant to give 24 hours notice via telephone banking before making a withdrawal of that size to make sure the branch you are going to has enough cash.

In this case I imagine the same will be true with any partnership Starling come to with NatWest.


#13

I had some block paving done about 5 years ago. The chap asked if I would pay cash (£2800).
I went to Lloyds armed with my debit card and cheque book and asked if I could draw the cash out, the chap behind the the counter said I could draw as much as I liked out so long as it was in my account.