The Birmingham bank which refuses to take cash

Nov 8 2009 by Nick McCarthy, Sunday Mercury

“I had my £60 payment ready and I was told they couldn’t take it off me. It really threw me.

“The credit card is with the Co-Op, and I was in the Co-Op bank in Colmore Row, but they still didn’t want my money

“I called the head office and they couldn’t help.

“I ended up going in to Barclays to send a cheque, but that will now be late and I will be fined.

The 69-year-old added: “These credit card companies just make up, and change, the rules as they go along.

“I think they will do anything to squeeze a bit more money out of the customers.

“They kept saying that it was just their policy now, but I got no more explanation than that.

“It still says on the back of my statement that I can pay by cash. There is no mention of any changes, and if it has changed then they should have said on the statement.”

A spokeswoman for the Co-Operative Bank said: “The Payment Services Directive came into force on November 1, 2009 and we have worked closely to ensure we meet the regulatory guidelines.

“From November 1 we no longer accept cash deposits in our branch network as a payment method for credit cards. To maintain our high standards of customer service, in those instances where we have system constraints, we have taken the necessary steps to ensure that we have an alternative process in place so that our customers are not adversely affected.”

She added that the bank had provided information to all customers to ensure they were fully informed of the changes resulting from the new European Union regulations.

“We have put into place new processes for those customers who may require access to funds immediately following payments into their credit card accounts and following the receipt of foreign payment transactions into their current or savings accounts,” she added.

Eurocrats say the aim of the Payment Services Directive, which has taken two years to be implemented, is to “enhance efficiency, competition and innovation”. They say that benefits for customers will include consistency, improved protection, enhanced information and a clearer approach.