Withdrawing money from NatWest savings acct.

[TOP G]

What's the max amount of cash that can be withdrawn without them making a fuss over it, and what's the procedure. Is it a case of turning up and telling them I want to empty the account? Also does the money have to be transferred to a current from the savings account?

[Chamon_Lee]

it depends on the bank, I don't know about natwest. I know halifax/RBS can be a pain even for 1k. Other banks its around 10k. I am sure it wouldn't be a problem even for 40k you can tell them I don't want to keep it here I am going to stick it in a safety deposit box or buy a car with it etc

Ps. my bank is 1 day notice for anything over 10k

They will only ask you a few questions to make sure someone is not forcing you to do it.

[Sheepshanks]

I think as a matter of routine it's £20K with NatWest. I had to pay beneficiaries of a Will and had to do it in £20K per day lumps.

[mjcneat]

This is what it says on the website NatWest Link

"For Cash Withdrawals between £5,000 - £19,999, it is advisable to give us 24 hours notice, particularly is you would like specific denominations.

For Cash Withdrawals over £20,000, we require 3 business days notice."

So presumably up to £5,000 with no issue.

I withdrew "between £5,000 - £19,999" in 2021 for some building work and despite giving them notice over 24 hours before, they still messed it up and didn't tell the branch. Had to fill in paperwork in the branch specifying what the money was for. Seems bonkers but sure there is a reason behind it.

[anonymous-user]

Also cashpoint spending limit?
I can up mine to 2k via the phone app
2k before midnight, 2k just after
etc
Can do same on wifes card

[mikey_b]

mjcneat said:

This is what it says on the website NatWest Link

"For Cash Withdrawals between £5,000 - £19,999, it is advisable to give us 24 hours notice, particularly is you would like specific denominations.

For Cash Withdrawals over £20,000, we require 3 business days notice."

So presumably up to £5,000 with no issue.

I withdrew "between £5,000 - £19,999" in 2021 for some building work and despite giving them notice over 24 hours before, they still messed it up and didn't tell the branch. Had to fill in paperwork in the branch specifying what the money was for. Seems bonkers but sure there is a reason behind it.

The reason is a) to try and make it slightly awkward in case it's cash for tax evasion reasons, and b) if a few people turned up wanting tens of thousand each, they may not have enough in branch. It's not a good look for the branch to then be telling customers wanting smaller amounts they can't have their money.

[tjl]

up to 50 k per day, rather than 20k, for transfers if you are a Nat West premier account holder