Nationwide Building Society has issued a warning to people who use cash, urging them to look out for counterfeit notes with ‘for props only’ stickers
Nationwide Building Society has issued a warning to anyone who uses cash in their daily life, urging people to remain vigilant when handling banknotes. The warning comes following concerns raised by an MP who had recently visited their local branch.
Dr Luke Evans, MP for Hinckley and Bosworth, paid a visit to the Nationwide branch in Earl Shilton, where staff alerted him to a troubling pattern of counterfeit cash being used in transactions.
Taking to social media following his visit, Dr Evans said: “One of the concerns they wanted people to be aware of is the amount of counterfeit notes in circulation.”
In response to the growing concern, Nationwide was approached for comment. A Nationwide spokesperson said: “We are aware of a rise in scammers using fake banking notes to pay people for goods and would urge consumers to always check.
“Suspected counterfeits should be reported to the police, and guidance is available on the Bank of England website.” The building society also provided guidance on how to identify fraudulent notes, reports the Express.
One of the most telling indicators is that these notes frequently feature a thick plastic sticker placed over the hologram, which if removed may bear the words ‘for props only’. Nationwide also noted that another indicator of a counterfeit banknote is if some of the UV numbers can be scratched off with ease. Genuine banknotes feature a number corresponding to the denomination, which will appear under 365nm UV light.
A further piece of advice, should you receive a banknote you are uncertain about, is to verify that features such as the hologram and colour-shifting inks are all present and correct.
When asked to comment on his visit, Dr Evans said: “It’s always concerning to hear of scams operating in your area. While anyone can fall victim to a scam, I’m always acutely aware of the impact on some of the more vulnerable people in our communities.
“It’s a reminder to always be alert, especially when interacting with people who are demanding cash, or saying that payment has to be made in a certain way – particularly when buying or selling over social media. At the end of the day, if it sounds too good to be true, it probably is.”
He added that the reports of counterfeit currency highlight the continued importance of in-person banking services in local communities. The Conservative MP said: “This certainly makes a case for face-to-face interactions and dealing with your bank in person.
“During my visit to Nationwide, I was struck to hear the team talk about the personal relationships they have developed with local customers, and how people would travel from neighbouring cities because they have trust in a specific cashier.”
Nationwide has previously committed to maintaining all of its UK branches until at least 2030. This stands in stark contrast to numerous high street banking institutions which are closing additional branches this year.

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