UK-based bank doesn't deal in UK currency ..

M

mammyof2

Registered User
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Is it just me or is this very odd?

I have a savings account in Nationwide UK Ireland.

Having failed a numgber of times in my attempts to set up a new beneficiary on their rather user unfriendly internet banking site, I trotted into the bank today in order to transfer some money into a sterling account in another bank in Ireland.

I was told that they 'didn't deal in sterling' and could only make euro denominated transfers and only to accounts in the Republic of Ireland.

Why, I asked?

'We're just too small to offer those type of services.'

Does this make any sense to anyone? What on earth does the size of a branch have to do with their ability to carry out the most basic of banking functions? They are a UK bank for heavens sake and they can't make a transfer in sterling!

Someone who knows how these things work please explain how this can be
 
No, they're a Irish based subsidiary company owned by a UK building society. It's not just a "branch" of the main building society, but a separate entity. They operate in Euro, in a Euro based country, so of course they're going to deal in Euro.

Their systems and processes are most likely set up to deal with only Euro transfers to accounts within Ireland. The demand for other services, like what you're asking, simply wouldn't be there to merit the time it would take to make the chances for what is basically a very small, deposit holding institution, not a full service bank.
 
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