The issue came to light after an MP visited his local Nationwide branch
UK bank customers have been issued a warning(Image: Getty)
Nationwide Building Society members and customers of other UK banks have been issued a warning. The matter emerged after a Leicestershire MP visited his local branch.
Dr Luke Evans, MP for Hinckley and Bosworth, visited Nationwide in Earl Shilton. In a social media post following his visit, he wrote: “Thank you to the team at Nationwide in Earl Shilton for inviting me to the branch. “It was great to hear about their commitment to local access and keeping branches open.” Nevertheless, he highlighted one concerning trend raised by staff members. Dr Evans said: “One of the concerns they wanted people to be aware of is the amount of counterfeit notes in circulation.”
He was asked for more details about the issue. The Conservative MP said: “It’s always concerning to hear of scams operating in your area. While anyone can fall victim to a scam, I’m always acutely aware of the impact on some of the more vulnerable people in our communities.
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“It’s a reminder to always be alert, especially when interacting with people who are demanding cash, or saying that payment has to be made in a certain way – particularly when buying or selling over social media. At the end of the day, if it sounds too good to be true, it probably is.”
Nationwide comment
A Nationwide spokesperson said: “We are aware of a rise in scammers using fake banking notes to pay people for goods and would urge consumers to always check. Suspected counterfeits should be reported to the police, and guidance is available on the Bank of England website.”
The building society has pledged to maintain all its UK branches until at least 2030. This contrasts sharply with other high street banking providers, with many major banks closing branches this year.
Dr Evans commented on the counterfeit cash problem: “This certainly makes a case for face-to-face interactions and dealing with your bank in person. During my visit to Nationwide, I was struck to hear the team talk about the personal relationships they have developed with local customers, and how people would travel from neighbouring cities because they have trust in a specific cashier.”
In-person services
Nationwide recently outlined its deposit policies after an enquiry from a customer on social media. The member asked: “Can I deposit one penny and two penny coins (not mixed) in branch if they are bagged up in bags of one pound? I have £30 in total.”
The building society responded: “You can deposit any amount of bagged coin into your account at your local Nationwide branch. You can find your nearest branch here.”
A link to the organisation’s website was provided, where customers can locate their nearest branch. Loose change can be deposited at any Nationwide location.
You can also bring in full bags of coins to your local branch. Complete bags can be deposited as follows:
£1 or £2 coins to the value of £2050p or 20p coins to the value of £1010p or 5p coins to the value of £52p or 1p coins to the value of £1.