Drawing Money Out At The Post Office

[Georgiesmum]

A friend told me this week that she heard on the television that from next January, people wont be able to draw cash over the counter at the Post Office. Is this true? If so what are your thoughts on this? Im sure it will affect a lot of people especially with so many banks having closed.

[Neveracrossword]

Georgiesmum, a quick look online showed that Barclays have recently announced that their customers won't be able to draw cash from P.Os. No other banks seem to be involved.

[Georgiesmum]

Oh, ok. thanks, you can bet the other banks will soon do the same though, I expect.

[TonyV]

One of my local co ops has post office in.

[Neveracrossword]

Even if other banks do the same, people still have far more access to their money these days - so I don't think it's a huge blow.

[lankeela]

Then you obviously don't live in a village in the depths of Norfolk where there is not even a post office in the nearest town!

[Neveracrossword]

Lankeela, if there's not even a PO in the next town, then the people in the village aren't being further disadvantaged, surely?

[lankeela]

I was referring to your comment that people have far more access to their money these days.

[Jackdaw33]

I think most cash paid out at POs is in the form of pensions and benefits and I'm sure this will comtinue.

[Neveracrossword]

Lankeela, I still think they do. My aunt lives in an area with very few bank branches - but she has no trouble finding ATMs or using Cashback in her Co-Op, Morrisons etc. She thinks this is a great improvement on when she could only ever get money from her own branch of her own bank.

[Georgiesmum]

I wasnt talking about people drawing out their pensions. I was talking about elderly people who need to draw out cash for their every day living, paying for services that5 they need cash for ie window cleaner, mobile hairdresser, gardener, cleaner. etc.

[Neveracrossword]

Georgiesmum, those sound people who're in a similar position to my aunt -and probably with the same access as I mentioned.

[Georgiesmum]

Yes, exactly.

[Neveracrossword]

Glad you agree, Georgiemum. I think it's more of a problem that some banks and building societies are stopping people paying cash in! (For example, grandparents can't put £20 cash into their grandchildren's accounts.)

[lankeela]

Well I suppose they could get the non existent bus service into the nearest shops which are not supermarkets so don't do cashback.

[Neveracrossword]

OK, Lankeela, the majority of people have far more access to their money these days. The majority of people are no longer tied to being able to withdraw money from only a single branch of a single bank (Lloyds, Nat West whatever).

[Georgiesmum]

Neveracrossword, I hadnt heard about some banks and building societies stopping grandparents from paying in say £20 for their grandchildren. Why would they do that? I remember when they used to encourage it, remember Nat West with their piggy money boxes?

[Georgiesmum]

We used to have three banks in our village, now we dont have any at all.

[Neveracrossword]

Georgiesmum, Nationwide and a few others have stopped certain transactions. I couldn't pay money into my niece's Nationwide account because I didn't have one myself! I checked online and discovered this was true and that some newspapers carried the story earlier in the year. Several banks had started doing this, saying it was to counteract money-laundering.

[Georgiesmum]

Really? Oh my goodness!

[Neveracrossword]

Georgiesmum, in 2018 Santander, Nationwide and Barclays all stopped cash deposits from people who weren't account holders with those banks. Other banks, building societies, may have joined them since.