I promise to pay the bearer... What does it mean?


D

Dave F.

Hi

What does that statement mean in this day & age?

I withdrew £250 from a Nat. West cash machine.
It issued it in £10 notes. I didn't want to carry around a big wad of cash at Glastonbury festival
so I went into the bank to get it changed.

The cashier appeared hesitant. She then asked me if I was a customer. I said no, but put the cash
point receipt up against the glass to explain what had happened. She hesitated again & then turned around to ask someone (senior?)
After a bit of Umming & Arring they did change my notes but said this was a one off & they wouldn't do it again for me.
They said I wasn't really allowed to do this.

Would this be true?

I put one of the notes against the glass & pointed out that it said 'I promise to pay the bearer' but they just looked at me blankly.
Whether I was right or wrong to mention that I got the distinct impression they had no idea what I was talking about.

What really irritated me was they came across as 'Captain Mainwarings'

http://en.wikipedia.org/wiki/Captain_Mainwaring

Why is it banks still think they're above the customer?

The same (maybe even more) goes for Post Office workers. (Grrr...)

Am I right to feel aggrieved, or do I not have a leg to stand on?

Opinions welcomed.

Cheers
Dave F.
 
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Y

Yellow

Dave F. [[email protected]] said:
Hi

What does that statement mean in this day & age?

I withdrew £250 from a Nat. West cash machine.
It issued it in £10 notes. I didn't want to carry around a big wad of cash at Glastonbury festival
so I went into the bank to get it changed.

The cashier appeared hesitant. She then asked me if I was a customer. I said no, but put the cash
point receipt up against the glass to explain what had happened. She hesitated again & then turned around to ask someone (senior?)
After a bit of Umming & Arring they did change my notes but said this wasa one off & they wouldn't do it again for me.
They said I wasn't really allowed to do this.

Would this be true?

I put one of the notes against the glass & pointed out that it said 'I promise to pay the bearer' but they just looked at me blankly.
Whether I was right or wrong to mention that I got the distinct impression they had no idea what I was talking about.

What really irritated me was they came across as 'Captain Mainwarings'

http://en.wikipedia.org/wiki/Captain_Mainwaring

Why is it banks still think they're above the customer?

The same (maybe even more) goes for Post Office workers. (Grrr...)

Am I right to feel aggrieved, or do I not have a leg to stand on?

Opinions welcomed.
I though the Bank of England made that promise, not NatWest.
 
J

Jonathan Bryce

Dave said:
Hi

What does that statement mean in this day & age?

I withdrew £250 from a Nat. West cash machine.
It issued it in £10 notes. I didn't want to carry around a big wad of cash
at Glastonbury festival so I went into the bank to get it changed.

The cashier appeared hesitant. She then asked me if I was a customer. I
said no, but put the cash point receipt up against the glass to explain
what had happened. She hesitated again & then turned around to ask someone
(senior?) After a bit of Umming & Arring they did change my notes but said
this was a one off & they wouldn't do it again for me. They said I wasn't
really allowed to do this.

Would this be true?

I put one of the notes against the glass & pointed out that it said 'I
promise to pay the bearer' but they just looked at me blankly. Whether I
was right or wrong to mention that I got the distinct impression they had
no idea what I was talking about.
The promise was made by the Bank of England, not Natwest. If you visit them
in Threadneedle Street, they will change your notes.
 
R

RobertL

The promise was made by the Bank of England, not Natwest.  If you visitthem
in Threadneedle Street, they will change your notes.-
AIUI, the BoE don't promise to change the notes; they promise to give
you the gold that the note represents and which is sitting in their
vault. A banknote is just a convenient way of avoiding carrying gold
around. The "bearer" bit means that you don't have to prove who you
are, just presenting the note is enough. BUT they don't really mean it
any more and the gold in the BoE does not match the notes in
circulation any more.

Robert
 
S

shanpeter

Nice Conversation, Thank
RobertL;82427 said:
On Jul 9, 10:35 pm, Jonathan Bryce (e-mail address removed)
wrote:
Dave F. wrote:
Hi

What does that statement mean in this day & age?

I withdrew £250 from a Nat. West cash machine
It issued it in £10 notes. I didn't want to carry around a big wad o
cas
at Glastonbury festival so I went into the bank to get it changed.

The cashier appeared hesitant. She then asked me if I was a customer

said no, but put the cash point receipt up against the glass t
explai
what had happened. She hesitated again & then turned around to as
someon
(senior?) After a bit of Umming & Arring they did change my notes bu
sai
this was a one off & they wouldn't do it again for me. They said
wasn'
really allowed to do this.

Would this be true?

I put one of the notes against the glass & pointed out that it sai
'
promise to pay the bearer' but they just looked at me blankly
Whether
was right or wrong to mention that I got the distinct impression the
ha
no idea what I was talking about.

The promise was made by the Bank of England, not Natwest. If yo
visit the
in Threadneedle Street, they will change your notes.-

AIUI, the BoE don't promise to change the notes; they promise to giv
you the gold that the note represents and which is sitting in thei
vault. A banknote is just a convenient way of avoiding carrying gol
around. The "bearer" bit means that you don't have to prove who yo
are, just presenting the note is enough. BUT they don't really mean i
any more and the gold in the BoE does not match the notes i
circulation any more

Rober
'Human Anatomy Online' (http://www.innerbody.com/
 
P

PeterSaxton

Hi

What does that statement mean in this day & age?

I withdrew £250 from a Nat. West cash machine.
It issued it in £10 notes. I didn't want to carry around a big wad of cash at Glastonbury festival
so I went into the bank to get it changed.

The cashier appeared hesitant. She then asked me if I was a customer. I said no, but put the cash
point receipt up against the glass to explain what had happened. She hesitated again & then turned around to ask someone (senior?)
After a bit of Umming & Arring they did change my notes but said this wasa one off & they wouldn't do it again for me.
They said I wasn't really allowed to do this.

Would this be true?

I put one of the notes against the glass & pointed out that it said 'I promise to pay the bearer' but they just looked at me blankly.
Whether I was right or wrong to mention that I got the distinct impression they had no idea what I was talking about.

What really irritated me was they came across as 'Captain Mainwarings'

http://en.wikipedia.org/wiki/Captain_Mainwaring

Why is it banks still think they're above the customer?

The same (maybe even more) goes for Post Office workers. (Grrr...)

Am I right to feel aggrieved, or do I not have a leg to stand on?

Opinions welcomed.

Cheers
Dave F.
Most people employed by banks are incompetent.

I asked to cancel some insurance.by sending an email to my bank
manager.

Eventually I got a form saying the refund amount. I received about £30
less.

I phoned the bank and asked them. A few days later they phoned back
and said they'd asked the insurance company to send a letter. I said
that would be ok as long as they explained why the amounts were
different. The bank guy said: "what exactly is it you want to know"? I
told him it was pretty simple - I get a form asking me to sign it and
return and I do that the same day and I still get a reduction of about
5%, why? He said that it changes on a daily basis. This still didn't
correlate with the amounts deducted.

I asked why dealing with this had taken so long at the banks end. I
told them I'd sent an email to my bank manager on a friday a few weeks
ago and he told me the bank manager had been off work for a few weeks.
When I said that somebody else should have been dealing with his email
he said that wasn't allowed. Nobody can look at other people's email.
I asked him why I'd got an answe to my email on the Monday after my
email on the Friday then? He said that somebody must have got
permission to read his email!

A simple question that requires a simple answer takes ages because
bank staff are stupid.
 
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S

Sam Smith

Dave said:
Why is it banks still think they're above the customer?
The point is that you are not their customer. So in fact were doing you
a favour.

Look at it this way - you have used their cash machine (no doubt for
free) and have now asked them to change some money for you. You are not
their customer so there is no benefit to them for helping you out - so
really they are not obliged to help you in any way.

In the same way as popping into a shop and asking for change from a
tenner is something you are unlikely to do without buying something
there first.

Also - as mentioned earlier - the 'promise' has nothing to do with NatWest.

I suppose it depends on how angry you want to feel.
 
E

Eric Jones

Sam Smith said:
The point is that you are not their customer. So in fact were doing you a
favour.

Look at it this way - you have used their cash machine (no doubt for free)
and have now asked them to change some money for you. You are not their
customer so there is no benefit to them for helping you out - so really
they are not obliged to help you in any way.

In the same way as popping into a shop and asking for change from a tenner
is something you are unlikely to do without buying something there first.

Also - as mentioned earlier - the 'promise' has nothing to do with
NatWest.

I suppose it depends on how angry you want to feel.
The asking for change is also one of the oldest scams going - you go into a
bank with say £200 in £10's and ask to change the money into say £20's. The
bank (grudgingly) does so, but almost immediately the customer changes their
mind and asks for the tenners back.
The cashier does not notice a couple of £20 missing when the notes are
handed back - you walk away with a tidy profit!
 
D

Dave F.

Eric said:
The cashier does not notice a couple of £20 missing when the notes are
handed back - you walk away with a tidy profit!
Damn, I should have tried that :)
 
D

Dave F.

Sam said:
The point is that you are not their customer. So in fact were doing you
a favour.

Look at it this way - you have used their cash machine (no doubt for
free) and have now asked them to change some money for you. You are not
their customer so there is no benefit to them for helping you out - so
really they are not obliged to help you in any way.

In the same way as popping into a shop and asking for change from a
tenner is something you are unlikely to do without buying something
there first.

Also - as mentioned earlier - the 'promise' has nothing to do with NatWest.

I suppose it depends on how angry you want to feel.
Sam
I was using a service (free or not) provided by them, so I am in fact a customer.
That service was at fault by not having any £20 pound notes.
I had proof that it was their service with the receipt.

David F.
 
S

Simon Finnigan

Dave F. said:
Sam
I was using a service (free or not) provided by them, so I am in fact a
customer.
That service was at fault by not having any £20 pound notes.
I had proof that it was their service with the receipt.
Why was the service at fault - did you tell the machine that you wanted £20
notes? If you asked for £250, and the machine gave you £250, what exactly
has the machine done wrong? In terms of showing them a receipt - does that
receipt uniquely identify the money you took out as associated with that
receipt, or does it simply state £250 withdrawn?
 
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S

shanpeter

Nice conversation!
Dave said:
Sam Smith wrote:-
Dave F. wrote:-
Hi-
-

Why is it banks still think they're above the customer?-

The point is that you are not their customer. So in fact were doin
you
a favour.

Look at it this way - you have used their cash machine (no doubt for
free) and have now asked them to change some money for you. You ar
not
their customer so there is no benefit to them for helping you out - s

really they are not obliged to help you in any way.

In the same way as popping into a shop and asking for change from a
tenner is something you are unlikely to do without buying something
there first.

Also - as mentioned earlier - the 'promise' has nothing to do wit
NatWest.

I suppose it depends on how angry you want to feel.

---
Sam-

Sam
I was using a service (free or not) provided by them, so I am in fact
customer.
That service was at fault by not having any £20 pound notes.
I had proof that it was their service with the receipt.

David F.
'Human Anatomy Online' (http://www.innerbody.com/
 

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