A UK-centered bank with $28 billion in assets under management is demanding customers explain why they are withdrawing cash.
NatWest bank says if the answer is not satisfactory, it will force customers to provide documentation proving there’s a legitimate reason for taking their money out.
The bank says the procedures are designed to protect its customers from scams.
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“Cash withdrawals are the least secure way of making payments given the number of other alternative options available through our Online Banking and Mobile App services…
Our primary aim is to keep customers safe and secure, and our branches follow our processes carefully to achieve this. This will include asking you questions about the purpose of your cash withdrawal, and in some cases, for supporting documentation
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