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Bank refusing to let me withdraw money


yid33
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Just into my local branch of the Nat west to withdraw £4500 to pay a contractor, for a new roof. The bank refused to pay this money telling me it’s against the law to withdraw that amount from my account (the account has sufficient funds) they said I need an invoice for the work, before they can make the transaction. Spoke to the manager and he said that it was a new law introduced last year. I have looked for the law on Google and can’t find anything.

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This will include asking you questions about the purpose of your cash withdrawal, and in some cases, for supporting documentation such as an invoice. This helps us validate the withdrawal as genuine and protect you against fraud and scams.

 

Please note that we ask for a minimum of 24 hours' notice on Large Cash Withdrawals – in particular for amounts over £2,000 or if you would like specific denominations. You can pre-advise us of your transaction via our customer contact team on:

 

Telephone banking
Personal customers - 03457 888444 (overseas +44 3457 888444)
Open 7 days a week 8am-8pm (Automated service 24/7).

Business customers - 03457 114477 (overseas +44 3457 114477)
Minicom: 0800 404 6161
Open 24 hours a day.
Calls may be recorded.

 

https://supportcentre.natwest.com/Searchable/913244082/What-is-the-maximum-amount-I-can-withdraw-from-a-branch.htm

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who said you needed a new roof...not a scammer that randomly knocked on your door and said...eh mate...you've got a tile loose...and things have snow-balled...

 

might not be true in your case, but you must admire the bank industry for taking a few steps to protect people after all the roof scammers and pensioners stories we've read in the press.

 

 

dx

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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48 minutes ago, yid33 said:

Spoke to the manager and he said that it was a new law introduced last year. I have looked for the law on Google and can’t find anything.

 

He may have had in mind The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 which came into force last year. There's nothing detailed in them about your specific situation but they generally required banks to enhance their diligence on large cash transactions

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Do you have internet banking? If so set up a new bill payment (BACS) to the Builder's account and transfer the money that way. If possible ask to pay a small amount by credit card and the balance by BACS (electronic transfer) that way the credit card company will help if there's a dispute later.

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