The Nationwide Building Society has joined other banks in setting restrictions on its counter service, which won’t suit the habits of some people. That’s according to Michelle Mitchell, charity director at Age UK, who says the new £100 minimum counter withdrawal could affect people’s budget management. She says people on lower incomes prefer to withdraw lower amounts of cash and that £100 is far too high for some people’s budgets, as it’s more than the basic state pension. For people struggling to budget, a debt management plan could help avoid getting into a debt spiral. Or if you owe more than £15000, an Individual Voluntary Arrangement (IVA) could see you pay back a manageable monthly amount over five years before going debt free.
Nationwide counter limit set at £100 minimum
June 8, 2010 By
