18 July 2024 , 08:17
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He was unhappy with the bank’s response to his complaint
A Santander customer was left fuming after discovering he had hit a limit for making deposits, on top of losing his local branch. The man reached out to the bank, stating: "I’ve just tried to pay cash in at our local Post office branch, and it wouldn’t let me deposit the whole amount (£365). I read there is an annual limit of £10,000 which I think I’ve exceeded.
"Is that at all Post Office, or just one branch? " According to Santander’s website: "The maximum daily cash deposit limit is £2,000, with a rolling annual limit of £10,000. Some Post Office branches can only allow up to £1,000, this is due to each Post Office having different maximum cash deposit limits, please check the limit at the branch you plan on visiting."
A representative from the customer support team responded: "This would be across the Post Office and ATM network for a rolling calendar year. You can still deposit cash at a Santander branch though over the counter."
However, the customer was not satisfied with this response, retorting: "Thank you, that is now extraordinarily unhelpful. Living in the countryside of south Devon, our nearest branch is over an hour away as all our local ones have been shut. If I wait for a short period of time, rolling year would have moved on so should be able to?"
"I’d have to make a special trip, wasting fuel, and over two hours of time as they are places I never go to, just to pay cash in!" Over 6,000 bank branches have been closed across the UK since 2015, and by the end of this year, 33 parliamentary constituencies will be without a branch.
A study from Nationwide Building Society revealed that 70 percent of savers still appreciate their local branch, with 41 percent stating it’s an essential service for vulnerable individuals.
Stephen Noakes, retail director at Nationwide, expressed: "What’s clear from our research is people of all ages are frustrated and concerned about the rate of branch closures. Our customers tell us how much they rely on them.
"This is why we are proud to have Britain’s biggest branded branch network, a manager in every branch and a commitment to stay everywhere until at least 2028."