A retired hotelier and his wife barricaded a Northern Rock branch manager in her office yesterday morning after being told that they could not withdraw their savings of £1 million without notice.

Christopher and Fiona Howard went into the Cheltenham branch demanding the money and blocked the door when they were told that the bank did not keep so much cash on the premises.

The female bank manager dialled 999 and the situation was resolved only when police officers arrived to calm the couple down.

Mrs Howard said: “Everything we have in our lives is in that bank. We would be left with nothing if it is lost. We were trying to buy a place in Cyprus and have put a deposit down but it may now fall through as we can’t get the rest of the funds.”

The couple, who retired in December, tried all night to transfer their savings online to another bank.Mrs Howard, 48, said: “The website crashed overnight and the help lines were cut off by the morning. We were sick with worry. When we got to the bank the manageress just didn’t want to know. She tried to usher us out of her office.”

She sat cross-legged across the doorway while her 64-year-old husband, who recently had part of his tongue removed because of mouth cancer, pleaded with staff.

A spokeswoman for Gloucestershire Police said: “We got a call at 11.15am. The report was of a disgruntled customer who was allegedly trying to stop the manager getting out of her office. He was quite upset and wouldn’t leave until after officers were called out. The manager contacted head office and he was able to go without charge.”

In North Lincolnshire another Northern Rock customer, Martyn Wilkins, was growing anxious as he tried to transfer his savings to another bank. He could not access his account online and, when he eventually got through to a sales manager after

3½Martyn Wilkins telephoned Northern Rock in North Lincolnshire yesterday to demand his savings be transferred to another bank.

But despite Mr Wilkin’s request for a same-day transfer at an extra cost, the bank said it was unable to guarantee that the funds would arrive in his account.

Mr Wilkins could not access his account online yesterday and was initially unable to contact the bank by phone for 3½He said: “If Northern Rock had wanted to cause me to panic, they couldn’t have done better.”

He was told that his money would be in his other account by close of business on Monday. “I asked the sales manager what right he’s got to withhold my money. He told me they have been overwhelmed by requests.” He added: “You expect a friend to say they will pay you next week, but not your financial institution.”

Some leaving Northern Rock branches said that they had withdrawn the bulk of their deposits. “I’m taking most of it out,” said Peter Pye, 60, a retired university lecturer from Stevenage. “I am losing a month of interest but it’s all about peace of mind.”

Long queues built up outside branches throughout the country as customers panicked about their investments.

In Stockport, 50 to 60 anxious savers waited to ask for their money back or be reassured that they still had it. Most were pensioners anxious about savings they cannot replenish.

Anxiety turned to irritation and, in several cases, anger as tellers told customers that they could not cash their bonds there and instead should put their requests in writing. A man of 82 who, with his wife, 74, had more than £50,000 in a two-year bond, said: “I spoke to my financial adviser this morning. He said, ‘Let me put it this way: if it was my sister’s money, I would be urging her to get it out’.”

At Moorgate in London, Arthur Smith, who is retired, said: “I’m closing my accounts and my ISAs. It’s my life savings — about £60,000.”

At the Princes Street branch in Edinburgh, Annie McEwan, 69, said: “It’s all right for the Bank of England and other institutions to say ‘Sit tight and everything will be all right’, but it isn’t their life savings that are at risk. We haven’t thought about where we’ll put our money next, but we can’t leave it here. I’d never forgive myself if I lost all my grandchildren’s inheritance.

“Everyone is jittery about the situation in the States. I’m worried about the economic climate.”

In Cambridge, Northern Rock customers waited outside their branch for hours. Valerie Brown, retired, from Horningsea, said: “I am going to close my accounts, both bonds and savings.

“I have been concerned for a while now. There was worry before and they said it was all OK but I would be much happier if all my money was out. We will wait as long as it takes.”

In Bristol, Jan Bull, 49, an IT worker, said: “I am concerned and worried. I’m coming to close my account if they’ll let me. I don’t trust them.”

There was widespread distrust of both the financial institution and Government ministers’ assurances.

One 43-year-old woman said: “The problem is that people had their fingers burnt with pensions and now the problem could be with savings.”

Another customer, who had “nipped out” of work for ten minutes only to find himself in a two to three-hour queue, blamed the Government’s “financial mismanagement”. He said: “Whether the cheque they will give me will clear NatWest I just do not know.” Rivals appeared only too happy to exploit Northern Rock’s embarrassment. As customers queued outside the Stockport branch, three executives from the HSBC across the road worked the crowd, distributing their cards along with bonhomie.

They returned to the bank for more leaflets suggesting: “At HSBC we will open a savings account for you — just send your funds electronically to us today!”

One customer angrily described their tactics as “ambulance-chasing” but Carla Rathbone, one of the HSBC trio, said: “We are letting them know we are here to help. It is their choice at the end of the day.”

Bank in figures

1.5m Number of savings customers

800,000 Number of mortgage borrowers

£24bn Amount held in savings deposits

8.4% Mortgage market share

£29bn Mortgage business in 2006

472p Value of one share in October 1997

438p Value of one share yesterday