MSE News: N&P launches fee-free holiday debit card

Former_MSE_Guy · 4 January 2011 at 5:19PM

This is the discussion thread for the following MSE News Story:

"The society's Gold current account now has the only mass market debit card with no commission when used overseas ..."

Read the full story:
N&P launches fee-free holiday debit card

opinions4u · 4 January 2011 at 6:05PM

N&P are "mass market"?

If you say so!

Degenerate · 4 January 2011 at 6:09PM

opinions4u wrote: »

N&P are "mass market"?

If you say so!

I presume they mean "available to all in the UK", as opposed to Cumberland BS who only take on customers in their branch area, and Metro bank who only allow account opening in person at their London branches.

poppy10_2 · 4 January 2011 at 6:50PM

Looks like a decent deal. Too many catches for me though - I would never make it my primary current account to receive my wages when it is paying 0% credit interest, and it would be too much hassle remembering to make a £500 payment/5 transactions each month. Overdraft £5 fee and 18% interest even for authorized overdrafts is pretty harsh, otherwise I might take a risk direct-debiting in a £500 deposit and sweeping it out each month.

I'll stick with my Abbey Zero credit card.

cubegame · 5 January 2011 at 12:09PM

So would this work if I set up a standing order to pay 1p in the account five times a month?

divoch · 5 January 2011 at 1:22PM

That is good question. Also, I presume, there is nothing to stop me to setup a standing order to deposit £500 and another one to transfer it out again few days later?

carenton · 6 January 2011 at 11:32AM

Unfortunately they have bumped up their charges elsewhere to compensate. I have been a customer for a lot of years but am leaving because it will now cost me far more to run my account each month - I always use my ovedraft but never exceed the limit, nor can I afford overseas holidays at the moment with 2 kids at uni so i get absolutely no benefit from their new holiday debit card or other overseas realted benefits. To add insult to injury they charged me for the printed bank statement I needed so i could move my account to another bank. Next thing will be to remove my mortgage from their clutches! All I would say, before you open an account, is check out all the other charges. You may find, like me, that you will be worse off rather than better off.

dougz_2 · 8 January 2011 at 3:35AM

Does anyone know, would I be able to online transfer funds kept in their e-saver account to spend immediately on the card? I am unsure what "your Account balance may not be updated until later that day" means in practice:

19.4 Payments made by electronic transfer between your N&P accounts will be credited into the receiving Account as Available Funds at the time that the transfer is made. Transfers are made immediately and cannot be cancelled. However, your Account balance may not be updated until later that day.

Also, how picky are they about who they accept i.e credit rating, income etc?

SaveTheEuro · 9 January 2011 at 9:29AM

I tried to withdraw €300 using my N and P card without success. Machines threw up various messages such as "transaction declined" and "contact your bank." I rang N and P who said they couldn't understand why.

Having searched through the terms and conditions on the N and P website I noticed the maximum withdrawal is £250 (that's less than Santander). At current exchange rates €300 is just under or just over £250. I tried again, requesting €100, and finally I have some cash.

Sometimes life is hard work isn't it? All the cash machines had to do was say "try asking for a smaller sum."

Hazzanet · 9 January 2011 at 10:04AM

carenton wrote: »

Unfortunately they have bumped up their charges elsewhere to compensate.

Have to agree; I was with them for 4 years - very happy with the service and never had any problems at all. I occasionally went into overdraft for a day or two each month, but the £5/pm charge for using it would have been silly to pay. Although I thought the service, this was too much to stomach so I've returned to Smile where I originally moved my banking from.

Rachel_Woodcock · 9 February 2011 at 7:38PM

Hi Martin,

I have been trying to find the link for this account on both the Bank Account section and the Travel money section! I don't seem to be able to find it which surprises me when it is a market leading debit card for using abroad and you are writing about it as so.

Any reasons why no link?

Cheers
Rachel

MSE News: N&P launches fee-free holiday debit card

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