What are the new rules for cash withdrawals from banks and how do they affect older people?
There has been some chatter on social media and elsewhere about changes to limits for cash withdrawals and whether these would specifically affect over 65s.
With the help of ChatGTP, we investigated what changes are planned or have taken place. As this is an AI-assisted article, it’s a good basis for further investigation with your bank or that of your older relative, but may not be perfect with the facts.
Here’s what we found, together with the sources used.
Rules for Cash Withdrawals in the UK Before September 2025
ATM Withdrawals
- Daily limits depend on your bank and account type:
- Some banks allow adjusting your daily limit via their app – eg, Barclays enables you to raise your cap to £500 BarclaysThe Sun.
In-Branch Withdrawals
- Higher limits are possible – often in the thousands – especially with advance notice:
- Lloyds: Up to £2,500 (or more with notice) The SunMetro
- Nationwide: Up to £2,000 in branches NationwideThe Sun
Limit Reset
- Most daily limits reset at midnight, meaning withdrawals before and after can reset the count Reddit.
Are Rules Changing?
Yes – new national withdrawal limits are expected from 1 September 2025:
- Daily cap: £500 per day
- Weekly cap: £3,000 per week
Applies to both ATM and in-branch withdrawals unless exemptions apply Strumace.
Why the change?
- To strengthen anti-money laundering (AML) safeguards
- Reduce fraud risks and enhance traceability
- Encourage digital payment use
he FCA’s guidelines also allow exemptions for vulnerable groups like the elderly or rural residents Strumace.
Are There Different Rules for Older People?
- No explicit separate limits, but vulnerable individuals (including the elderly) may be exempt from the caps. You can apply through your bank if unable to use digital banking or living in remote areas Strumace.
- The FCA protects vulnerable groups, including older adults, as part of cash access frameworks GOV.UK.
What You or Your Loved One Can Do
- Check with your bank for your current daily and in-branch limits
- Plan major withdrawals in advance
- If digital access is difficult, apply for an exemption on grounds of age or accessibility
- Consider alternatives like Post Office withdrawals or mobile payments if needed.
Photo by Nick Pampoukidis on Unsplash
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