I'm confused by the bank

[Aspergers_Aspie]

I ordered a new bank card as I thought I lost my bank card. While I was waiting on the new card to arrive, even with my passport, I was told that I could only withdraw a maximum of fifty pounds a day, do you know why? Do you think they would suspicious of potential money laundering or fraud? I don't understand if the Department of Work and pensions authorise me to have benefits, why would the bank try and restrict me, do you know why?
Thanks

 

[Martha Ferris]

I would ask the bank.

 

[Judge]

If this article is accurate, I wouldn't take such limitations personally. Though it appears that different UK banks have different thresholds for cash withdrawals.

Want to make a big cash withdrawal? Don’t bank on being allowed

 

[jleeb05]

I agree, it's worth asking the bank but these sound like safety measures enacted to prevent theft. I once lost my wallet which included my ID and debit card. So theoretically someone could have access to both.

 

[VictorR]

Yes, as others have noted it's generally a security feature to limit cash withdrawals at a machine - the idea being that if you need a larger amount, that you can always do so through a teller during regular hours.

The same applies for limits to contactless payments - which I noticed are lower in the UK. I recall the last time I was there being surprised that it was limited to £20, since many retailers on this side of the pond had, at that time, accepted them to $100, and there are some (mainly grocery stores) that accept larger contactless payments for larger amounts, $200 or $250 being not unusual, and in rare cases, up to $500.

 

[Aspergers_Aspie]

I personally don't want to commit fraud but should feel grateful secure measures are in place.

 

[Aspergers_Aspie]

I know contactless card
payment can open up potential frauds example

 

[Aspergers_Aspie]

I know if the bank sees an authorized legimate organisation, I don't see the problem. The dwp are as legimate as you can get

 

[QuestJan]

why would the bank try and restrict me, do you know why?

Chase kept shutting me down during the COVID. They would not fix it by phone so I had to take time off from work and it took a long time.

I finally changed banks.

 

[ForestGumpett]

I’m in the states. When my Dad died over 6 years ago we went to get money out and move it around but the banks had amounts put on how much you could move and how often. It was a large amount, don’t remember how much but it wasn’t enough. We had to wait and do it in their timing not ours. I’m assuming your not in the states being you said pounds, if that is said in the states we are talking about weed lol.

Check w your bank regarding rules, it may be where you have to wait a day or so and then get more out. In the states, the smaller banks seem to be the safest but you never can trust them all imho.

Oh, and @Aspergers_Aspie ; I like your new avatar, two thumbs up - you got our vote with the “no”!

 

[Yeshuasdaughter]

Because the bank has its own interests to protect. I would suggest going directly into the bank if you need more money than that, and see if they can release more of your money.

The good news is that banks are usually pretty quick to get those debit cards delivered. I've always received mine within a week.

In the future, I would suggest withdrawing a large sum of money before ordering a new bank card, and keeping that cash in an envelope, and re-depositing it in the bank once you receive your card.

 

[Au Naturel]

I can walk into my credit union and get a replacement card immediately. They keep a stack of numbered cards right there and will emboss my name on it and set it up in the system. All I need is to prove my identity. Maybe the rules are different in the UK or it may be your bank is just behind the times.

Many vendors will accept a check in payment. That shouldn't be affected by the lost card. Or pay your bills with a different credit card and then pay that off when the new bank card comes in. All my regular bills are on autopay, so it wouldn't affect me much at all.

Although, I have had a hold placed on my card when I purchased a small item in a location far from home. Potentially very embarrassing. Had to call the credit union to let them know it was really me. (They'd prefer it if I let them know if I'm traveling out of state to prevent this sort of thing.) That is something fraudsters do to test credit card numbers they've bought off the digital black market.

Always have a backup credit card and some cash on hand (if you can afford it) for emergencies.

 

[Aspergers_Aspie]

If the dwp say I can have that amount the bank should let me unless they are calling them frauds

 

[Aspergers_Aspie]

Im not letting this go and I have emailed a member of staff about this at the autism charity I am registered with.