Nationwide bids to beat branch queues by stopping small value cash withdrawals

The UK's Nationwide Building Society is to ban small value cash withdrawals at its branch counters in an effort to reduce queuing times and move more routine transactions to the ATM.

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Nationwide bids to beat branch queues by stopping small value cash withdrawals

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The UK building society is increasing the minimum cash withdrawal limit for FlexAccount customers with a Cash Card and CashBuilder customers with a Cash Card, from £30 to £100.

The initiative, which will be introduced in June, will "make our branches more efficient, help reduce queues, speed up transactions and free up our staff time to deal with more complex transactions", says the Society in a statement.

Nationwide's divisional director of the branch network, Graeme Hughes, told the BBC's MoneyBox programme the change was essential.

"About a third of all counter transactions are carried out by less than 8% of our customer base," he said. "And the other 92% say 'what can you do to speed up the queues?' So what we're trying to do is to look at alternative ways of dealing with these customers."

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