MSE News discussion. Nationwide kills cheap overseas spending

Dunno if I'm typical, but even though NW isn't my main current account I have substantial savings with them. Haven't bothered moving for the odd quarter percent - probably worked out level when comparing Flex usage in Europe v my (bog-standard) main account, but sounds like time to start reading/moving.

I suspect something like the new Halifax Clarity as a credit card and Caxton or FairFX pre-paid will be a reasonable substitute? I know there's been a few threads about these, but I didn't need to pay much attention until now... (gulp!)

Earlier this month, I used the card outside of the EU for a couple of withdrawals, and the rate I received (accounting for the 1% loading) was about 6% worse off compared to the Interbank rate published on Oanda.

I've been unsuccessfully trying to get Nationwide to ascertain and provide visibility of the Visa International rate they use, and how it links into the published Interbank rate. I guess it doesn't matter anymore anyway.

callum9999 wrote: »

Probably the free insurance.

This is quite irritating - are there any other accounts that don't charge for use abroad for a debit card (apart from Metro bank, I don't want to go to London just to open it).

The Cumberland BS if you prefer to move to its branch area instead. The dreaded Santander does not charge if you use its ATMs in Spain and pay in £1,000 per month.

I'm the same, Mervyn.

I've been with Nationwide for 12 years (not out of laziness but because I genuinely liked how I got treated and I liked the rates). I'd been half heartedly considering changing my current account for the last year but now I definitely will. I've emailed them to point out that this will lose them all my custom - current account, joint account, two savings accounts and next year's mortgage.

What a cr*ppy idea they've had.