Nationwide - Cheap spending abroad - Over

Ilovejackbauer

It has been announced today that from 6th May Nationwide will be reclaiming the charge made by Visa on Foreign transactions, its currently .84% and goes up to 1% in July. At the moment Nationwide has paid this charge which is why it has been the card of choice when travelling.

Unfortunately, this was supposed to be a benefit for Nationwide customers but as you know in recent times has been abused by people taking an account or cc just for use when travelling, so it is now being withdrawn across the board.

SimbaSimon

Hi,

Whats your source for this? Can't find anything on the nationwide website about it and they're still saying how you can save money abroad on the website so I have my doubts.

nvh

found this article published on the Guardian website just 20 minutes ago:
http://www.guardian.co.uk/money/2009/feb/25/nationwide-credit-card-rates

from the 3rd paragraph:

Anyone who uses a Nationwide debit or credit card outside Europe will also be charged a currency conversion fee imposed by Visa, which was previously absorbed by the building society. This will be £4.20 for every £500 spent.

BAD NEWS INDEED

(also they are putting up interest rates on CC's, and dropping rates for savings accounts)

I hope the post office are prepared for an influx of credit card requests -- suggestions for (debit card) cash withdrawals welcome!

Inactive

Well at least it only seems to apply outside of Europe.

davetrousers

Inactive wrote: »

Well at least it only seems to apply outside of Europe.

I saw that paragraph too.

However how does this relate to the Canary Islands (not a completely stupid question) as yes they are Spanish but are not part of the EU (Fiscally) iyswim?

nvh

that's what I thought... how is 'Europe' defined?

Is it anyone that hasn't adopted the Euro for example?

Inactive

davetrousers wrote: »

However how does this relate to the Canary Islands (not a completely stupid question) as yes they are Spanish but are not part of the EU (Fiscally) iyswim?

It would be my guess that as they use the same banks as Spain, it would be deemed as part of Europe, but who knows..

Inactive

nvh wrote: »

that's what I thought... how is 'Europe' defined?

Is it anyone that hasn't adopted the Euro for example?

That would mean that the UK wasn't part of Europe.. :rotfl:

Bluebird24

Great. I only bank with Nationwide and am going to the USA at the end of May.

Beacon_Bright

Inactive wrote: »

That would mean that the UK wasn't part of Europe.. :rotfl:

I WISH

BenL

This was/is the only card of my bunch that i always keep.

Maybe time to move to abbey for the fulltime reserve card.

Saying that I do spend most of my trips in Europe so we shall see how far they classify as europe.