MSE News: Nationwide revamps Flexaccount with travel insurance

Former_MSE_Natasha · 30 July 2010 at 6:24PM

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

"Nationwide is revamping its current account offering annual multi-trip European travel insurance to new and existing customers who fund it with at least £750 each month..."

Read the full story:
Nationwide revamps Flexaccount with travel insurance

peeweeel · 31 July 2010 at 3:11PM

Well that looks like the end of the line for me and my Nationwide Flexaccount. First the interest goes then the overseas charges are added. I've been transfering money out to an interest paying account recently but keeping some there for using in Europe. I might as well simplify everything and just run one current account.

RobertinHerts · 1 August 2010 at 9:09AM

As Martin often says loyalty doesn't pay, does it. I've had my Nationwide Flex account as my main account for well over 20 years and will easily meet their criteria from now on. I was already highly iritated at the failure to alert members to the dramatic reduction in ISA interest rates. How much would it have cost to have printed it on the annual statement - nothing, so no excuse - and completely against the values they espouse.

I was already frustrated by being forced to have a debit card to replace the cheque card, which looks the same as one for an existing joint account, so now I have two virtually identical cards which I have to be very careful to distinguish.

Now they're taking away the benefit of using the card for foreign travel.

I already have what I call a buffer zone on each account for accidental situations - they call it an overdraft. So no advantage there.

As I already have travel insurance included with my Direct Line house insurance I don't see any benefit with this either.

Looks like I too may be leaving after all these years. Is there anyone worth talking to at Nationwide first? I know phone companies have Retention teams, do banks?

Robert

apt · 1 August 2010 at 10:01AM

No they won't change the terms of their current account to keep individual customers. I would not dismiss the benefits of the free European travel insurance, especially if you qualify for cover up to 75. You currently have that on your home insurance, but you will be paying an extra premium for that, and the cost of travel insurance goes up for pensioners. The implication in the MSE article that those under 50 can get what Nationwide is offering for £14 a year is misleading because of the high £150 excess on the £14 policy.

adecor · 1 August 2010 at 10:22AM

Anyone know if there are any other banks that offer European withdrawals without charges?

northernstar5 · 1 August 2010 at 1:26PM

RobertinHerts wrote: »

As Martin often says loyalty doesn't pay, does it. I've had my Nationwide Flex account as my main account for well over 20 years and will easily meet their criteria from now on. I was already highly iritated at the failure to alert members to the dramatic reduction in ISA interest rates. How much would it have cost to have printed it on the annual statement - nothing, so no excuse - and completely against the values they espouse.

I was already frustrated by being forced to have a debit card to replace the cheque card, which looks the same as one for an existing joint account, so now I have two virtually identical cards which I have to be very careful to distinguish.

Now they're taking away the benefit of using the card for foreign travel.

I already have what I call a buffer zone on each account for accidental situations - they call it an overdraft. So no advantage there.

As I already have travel insurance included with my Direct Line house insurance I don't see any benefit with this either.

Looks like I too may be leaving after all these years. Is there anyone worth talking to at Nationwide first? I know phone companies have Retention teams, do banks?

Robert

Don't quite understand how - but there seem to be 2 threads about this!

RobertinHerts · 1 August 2010 at 3:07PM

northernstar5 wrote: »

Don't quite understand how - but there seem to be 2 threads about this!

Because there are two different articles about it - one for European withdrawal charges and this one for the other changes.

Robert

kazd · 1 August 2010 at 3:49PM

Thats me out then, I work for them but they don't pay me enough to actually qualify for this.

Cranberryberry · 1 August 2010 at 8:02PM

I can't seem to find any confirmation as to whether the Travel Insurance will just cover account holders (which I would guess) or 'families' for Joint Accounts.... if not this does sound like time to look elsewhere (for me)

minerva_windsong · 2 August 2010 at 10:01AM

So what's the new top overseas debit card then? I know there's that new Halifax credit card (which as a Halifax current account holder I do qualify for) which is supposed to be quite good, but as my 'back-up money' for going abroad I'd much rather use a debit card.

apt · 2 August 2010 at 10:08AM

minerva_windsong wrote: »

So what's the new top overseas debit card then? I know there's that new Halifax credit card (which as a Halifax current account holder I do qualify for) which is supposed to be quite good, but as my 'back-up money' for going abroad I'd much rather use a debit card.

If you live in the Cumberland BS area (they have a branch in Preston as well as Cumbria) that is your best option for a debit card. However the Halifax clarity credit card should work fine for you.

MSE News: Nationwide revamps Flexaccount with travel insurance

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