Prepaid cards: solution to counter ban?

Published on 1 January 1970 by Raffick Marday

Nationwide has banned customers from withdrawing less than £100 from the counter in a bid to speed up queues in the bank.

This will come as a blow to vulnerable people who are unwilling or unable to use an ATM, as it will mean that they have to withdraw a lot of money in one go at the counter.

Many older people do not feel comfortable carrying around large amounts of cash, whilst some people might not want to take out lots of money so that they can budget.

A prepaid credit card could be the solution for both groups. They pay-as-you-go card can be topped up with whatever the owner can afford, so they don't need to worry about being in possession of lots of money, or worry about exceeding their budget.

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