Thursday, April 15, 2010

What is the maximum amount of cash you can withdraw over the counter at a bank?

Trying to settle and arguement:-





At one of the main banks (eg Lloyds TSB) what is the maximum amount of cash you can turn up and withdraw from your account?


Do you need to call them and "order" the withdrawl beforehand?


Assume for this purpose that you have photo ID with you and your balance more than covers your withdrawl.


Cheers,

What is the maximum amount of cash you can withdraw over the counter at a bank?
There shouldn't be a maximum amount of cash that you can withdrawl, since in this scenario there is photo I.D. and the balance is more than what is being withdrawn from the account. If this is a small bank branch, a phone call should be made to ensure that the money is available in cash. They may have to order more money to cover this, which can take a day or two. Or they may send you to one of their larger branches that keeps more cash on hand.
Reply:If your account allows, you can draw as much as you wish. However, the practicalities dictate that you do warn them beforehand if it's a huge amount, they don't carry infinite amounts of cash on the premises. And you might find yourself being asked a few questions by the boys in blue, banks are required to report unusually large transactions.
Reply:If it is your own branch and they know you it would be better or you can set up an arrangement at a local branch. It is best to phone beforehand and organise it before you go in. It would be better to get a bankers draft if it is a lot of money.
Reply:It depends on the type of account you have. Phone your bank and find out, you don't want to get there and they say no you have to order it. You don't say how much you want to withdraw.
Reply:If you forewarn them I cant see a problem with any amount (as long as it is in your account!)
Reply:I'm sure you don't have more than then bank so you can take out as much as you have. It's your money!
Reply:$10000
Reply:shouldnt be a problem, unless you need £30,000, i would warn them then!


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