International Purchases Nationwide CC?

mark101

Hi couldn’t find a thread for this although I’m sure there is one. I read in the newspaper that this card didn’t charge for transactions abroad - anyone care to help. Anything else I need to be aware of?

Also is getting it in 10 days possible as I'll be off soon?

Cheers,
Mark

Martinslovechild

That's correct although I think 10 days is optimistic. It's normal to allow approx 4 to 6 weeks with credit cards.

Mr_B_13

I applied for a Nationwide card for this very reason, as it is the cheapest for overseas transactions.

Then I discovered a cheaper way ... the Nationwide current account! Whereas their credit card has low charges for purchases, it still charges a cash withdrawal fee (increasing to 1.5% on 9th December) as well as the exchange rate (if I have understood correctly). Therefore, if you want cash in your pocket, it will cost you a little (not as much as others, but still a cost).

See: http://www.nationwide.co.uk/creditcard/using_the_card/using_card_abroad.htm

With the FlexAccount, you get the same benefit on the exchange rate without loading, but also Nationwide do not charge you for cash withdrawals worldwide.

See: http://www.nationwide.co.uk/banking/current-account/whats-on-offer/what-do-you-get.htm

Combine with a 0% elsewhere if credit required, but this sounds like an excellent deal! (I intend paying in sufficient to cover cash withdrawals while I am away).

Just waiting for the card to arrive as according to their online monitoring the account is now active.

Credit card - applied 3/11, paperework arrived for signing a few days later, card arrived 9/11.
Current Account - applied 10/11, account set up 30/11 (admittedly, they sent the forms but somehow were lost in the post - it has taken a week from the forms being sent again and signing to the account being set up).

Kind regards

Mr B

johnllew

The Nationwide card has no foreign exchange loading and is therefore ideal for overseas purchases. Even better, get their Reward Card and you'll get cashback too, 1% for the first 6 months and 0.5% thereafter.

mark101

Thanks for all your comments appreciated – Going back to MR B's comments are you/is he saying that getting the flex account gives you a total 0% on cash withdrawals & purchases?

Thanks.
Mark.

PS: I think I better pop down to my local branch asap!

Mr_B_13

It is from a current account, therefore you need to have money there. However, you only pay whatever the exchange rate is on the day that you withdraw it (the same as withdrawing from cashpoints in UK for free, but obviously you will get foreign currency!).

From what I understand, this will work out better than the £0 commission deal on currency as wherever I have seen that (even with Nationwide), the rates have been adjusted so that they still make money.

I suspect (but don't know) applying in a branch, with any proof of id/address etc with you just in case and signing the form there and then could indeed speed the process up as it removes any postal delays (the only postal element, from your perspective, would be the account information arriving). The downside would be not being able to monitor the application online?

Mr B

alictait

I came back from America a month ago and when I got my statement from Nationwide (flexaccount), It turned out I was getting 1.84 dollars to the pound, whereas I would only have got 1.75 dollars to the pound. Obviously the benefits speak for themselves.

Also, a point to note - If you are withdrawing cash, you are best to do it at a cash back store i.e at the till in walmart etc, you therefore will not be charged a withdrawal fee, as you are when you withdraw from any bank in America.(well all I could find)

thefirs

These are all valid points in the thread above. I spend an extensive part of my working life in France, and exclusively use NWBS credit cards or Flexaccount to provide spending. Wider points are discussed at Martin's article http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1094813914,50757,.

As a second-best for European spending, the Liverpool Victoria card (best known as the branded cards CSMA and Saga) are also worth considering. LV have an offer on until 31 December for fee-free cash withdrawals from their credit card.

westernpromise

I suspect (but don't know) applying in a branch, with any proof of id/address etc with you just in case and signing the form there and then could indeed speed the process up

This is correct - NW took about 8 days to process my application. As I was in a hurry they said send it to my branch, not the processing centre. Turned it round very fast.

mark101

Applied for the Nationwide bank account on Saturday. All was fine, just hope I now get the card in time.

Also I was able to get a credit card @ 6 months 0% if I wanted but a measly 3.7ishk. She showed me on the screen no thank you.

Mark

JohalaReewi

Have been using my Nationwide card for non GBP internet purchases but actually used it for real in France and Belgium for the first time last week. Rang customer services to check the card didn't need to be activated (problem with old VISA card last year ) and they said it was as well to tell them the dates and countries the card would be used in so they could log it and ensure the card wouldn't be blocked. True to form the card worked and even the chip and pin worked in France. When I got back to the UK and checked my online statement, the exchange rate from Nationwide was 1.44 Euro per GBP which is a lot better than the going rate of 1.33 being offered at various Bureau de Change. And I am still on 1% cashback so a nice bonus there. Cant fault it.

Also, in Martin's article it says you need to bank with Nationwide to apply for a card. This isn't true. I got one without banking with Nationwide and I also get online access to transactions even though customer services reckon it doesn't work without a Nationwide bank account!!

Edit: This refers to the debit card - I mistakenly read it as applying to the credit card.