Donate SIGN UP

Cash Withdrawal

Avatar Image
woofas | 10:05 Fri 29th Oct 2021 | Law
15 Answers
Is there a maximum amount that can be withdrawn at the counter against your bank account by presenting a cheque for cash?
Gravatar

Answers

1 to 15 of 15rss feed

Best Answer

No best answer has yet been selected by woofas. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
As far as I know you can't withdraw any cash against a check until its cleared -what if you withdrew £500 and the cheque bounced?
I don't think so but you would probably have to give notice for larger amounts & the bank may wish to take you through some security procedures to ensure you're not being scammed or involved in money laundering etc.
You could always use those cheque cashing places such as pawnbrokers - expect to pay around £40 for a £500 cheque.
I don't think a couple of the responders to date have understood the question. As I understand it the OP is asking about writing themselves a cheque for cash and presenting it at their own bank. The cheque's not going to bounce, the bank won't release the funds without checking the balance.

And, no, there's no legal limit other than the value in the bank account. The bank may have a policy of its own though or require notice. On occasion I take a cheque to the bank when we need more cash float (business account). If it's anything more than a couple of hundred pounds they tend to want a few hours notice by phone and I imagine it if was thousands they may potentially want at least a day's notice.
// -what if you withdrew £500 and the cheque bounced?//

because it is his own cheque and he is drawing against that. They may well want identity and today an assurance that you arent being scammed

The most I have drawn is £2k on spec
You have to warn them the day before otherwise

They will probably offer you on site cash transfer....
I don't think a couple of the responders to date have understood the question

or they didnt bother to read

or they really cant remember drawing moolah by writing CASH in the payee line
using a bank card and signing in front of the cashier
About ten years ago I needed to withdraw a sizeable amount by that method, There was no problem but they asked me to wait 24 hours to ensure they had sufficient funds at the small branch I was using.
An example (Nationwide B S)

https://www.nationwide.co.uk/help/banking-help/cash-withdrawals

And Santander have a £10,000 per day limit.
They may also ask questions about what its for as they get criticised and after stump up if it turns out that you were being pressurised and scammed by someone who was going to take your money
Why write the cheque? Your bank card will do.
many banks don't even issue personal cheque books
good point, barry, people are much more likely to have a card than a cheque book these days.
why doesnt he just keep it under the bed?

can we at least think of answering the question !
//why doesnt he just keep it under the bed?//

what's the point of keeping a cheque under the bed?
as in there are 10 m more in central europe
yeah OK didnt think of that one

1 to 15 of 15rss feed

Do you know the answer?

Cash Withdrawal

Answer Question >>