Warning that customers are being forced towards a cashless society as bank grants itself ‘sweeping new powers’
NatWest has granted itself “sweeping new powers” to limit cash deposits and withdrawals, fuelling warnings that banks are forcing customers towards a “cashless society”.
The high-street bank has told current account holders it is bringing in new conditions “giving us the right to set limits on inbound and outbound payments”.
In a leaflet it said that could include imposing “daily and annual” cash withdrawal and deposit limits and “limiting the amount of cash” paid in or taken out.
The move has raised fears that increasing curbs on the use of paper money across the system could have negative consequences for consumers.