Important changes to LCU cash limits – July 2024.

Important changes to LCU cash limits – July 2024.

Due to an increase in our insurance costs, from Thursday, August 1st, the maximum amount of cash you will be able to take out over the counter in our branches will be £200 per day. 

The £200 limit will apply across all branches, so you will NOT be able to withdraw £200 from one branch and then another £200 from a different branch on the same day.

Members who still wish to access cash from their accounts can use the following methods:

• CashPerks: lets you withdraw £250 cash at MasterCard ATMs without the need for a card*.
• PayPoint Cash Out: lets you get cash at any of the 28,000 PayPoint outlets across the UK*.

Members can also ask for more information in branch, where our staff will be happy to arrange a CashPerks or PayPoint withdrawal for you.

• If you have a bank account with a UK bank or building society, you can ask in branch for a faster payment to be made from your LCU account into the bank account – you will just need the account sort code and account number.
• Arrange transfers using our free online banking service or mobile app.

Cash deposits.

Due to anti-money laundering regulations, we must limit the amount of cash that can be deposited over the counter at our branches.

From Thursday, August 1st, the maximum cash deposit will be £1,000 in a single deposit. You will also only be allowed to deposit a total of £1,000 in cash each month.

Up to £5,000 can be deposited provided that you give two days’ notice and can provide proof of the source of the cash. For example, if the money has come from the sale of a car, you will need to provide the sales receipt and a copy of the completed V5 (Logbook) showing you have sold the car. 

If you are not sure what is acceptable proof, please ask when telling us about the deposit. If we do not have acceptable proof, the deposit will be refused.

We apologise for any inconvenience. If you have any questions, please contact us via the link below.

https://leedscreditunion.co.uk/

*Charges apply for PayPoint and CashPerks services