Plea to bank customers ahead of its closure

CUSTOMERS of a bank are being urged to close their accounts ahead of its closure.

All accounts held under the North Lanarkshire Municipal Bank (NLMB) must find alternative arrangements for their savings before September 30, 2022.

NLMB can help with balance transfers, changing payments and how to set up a new account with another provider.

Elaine Kemp, company secretary, said: “It is important customers act now to give themselves time to make alternative banking arrangements.

“People need to contact us so we can help them transfer their savings and payments to other accounts.

“We would also encourage family members to check with relatives if they may have an account.”

Customers can go to any NLMB branch and close their accounts with funds payable via the following methods.

Faster payment: By transferring to an alternative account in the existing customer’s name with another banking provider.

Cash: Which requires prior notice of three days for withdrawals of over £1000, but NLMB recommends that withdrawals are limited to £1000.

Cheque: Which requires prior notice of seven days.

Ms Kemp added: “We have a range of support services available and the sooner you speak to us, the quicker we can make suitable arrangements to help.

“We are contacting all existing customers directly to remind them they need to contact us ahead of the bank closing down.”

Customers should contact the NLMB helpline on 01698 403135 before attending a branch to close down their account to help manage demand and to speed up the process for them.

The helpline is available Monday to Friday between 10am and 3pm. No new accounts can be opened, and any additional deposits are being discouraged.

For further information, visit northlanarkshire.gov.uk/ municipal-bank.