Disabled Leighton Buzzard pensioner criticises Nationwide for stopping cash deposits by a third party over money laundering fears

Cash problems for Margaret
Cash problems for Margaret

A disabled Leighton Buzzard pensioner has criticised Nationwide for stopping cash deposits by a third party due to fears over money laundering.

Margaret Brown, 88, of Miles Avenue, used to get her granddaughter to pay money into her bank account for her due to her disablity. But now, after a review of the anti-money laundering procedures, she, as the account holder, has been told she is the only peson who can pay it in.

She said: “I am disabled and I struggle to get out, my granddaughter used to help me. She would get my pension from the Post Office, I would take the money I need for the week and then she would go to the bank and put it in my account for me. Now we can not do this. Nationwide have said that only the account holder can pay money into their account. When I asked what I am supposed to do about getting my own money into my own bank account, they said I can give a cheque to my grand-daughter to pay in. That is just ridiculous.

“I contacted my MP Andrew Selous because I don’t think it’s right and he investigated for me.

“I have received a letter saying it is all to do with the new anti-money laundering laws, which banks can implement as they like, so some banks will allow someone else to pay cash in and others will not.

“For example Barclays allow someone else to pay into your bank with a pre-paid slip, other banks will let someone else pay in if they have their card, but Nationwide are saying no-one but the account holder can pay in.

“It is a regular thing that I do and I am sure there are hundreds of people across the country that do the same thing as me, put money in the bank from a pension to cover bills. I would understand if I was trying to pay in £50,000 but that is not the case.

“I don’t think that is fair, it is not just me or people who struggle to get into town, what about people who work 9am till 5pm, they will not be able to get to a bank to put their own money in their account.”

The change was made in March and has been advertised in branches, as a result of a review of their anti-money laundering procedures.

A spokesman for Nationwide Building Society said: “Following a review of our internal policies and procedures we have taken the decision to restrict deposits made to accounts by third parties, moving us in line with a number of our industry peers.

“This change in policy is advertised within our branches.

“Existing members are able to pay money into their account and transfer this to another, which can be done in branch or they can transfer money online. Third parties can continue to pay in cheques.”