Nationwide to ditch free transactions outside Europe and raise rates

Inactive

Broadwoodboy wrote: »

Can you post a link to the country list?

Try clicking on the word " here " ( in red at post a few above );) .

gt94sss2

Geenie wrote: »

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.

Doesn't seem like a massive amount to me, and therefore quite fair.

The fee is 0.84% until the end of June (hence the £4.20 for every £500) - from the 1 July 2009 its 1%...

Regards
Sunil

eslick

time to move to the post office untill they start charging

dollywops

Abbey don't charge a foreign exchange fee either.

Inactive

dollywops wrote: »

Abbey don't charge a foreign exchange fee either.

They also don't have a very good record of running customers affairs too well.

As this Nationwide change doesn't apply across most of Europe, it will not affect most customers.

eslick

dollywops wrote: »

Abbey don't charge a foreign exchange fee either.

they loose your application, but when you call them they say that the card will be dispatched and only months down the line when you chase them they say they never had your application back. Sorry but they are hopeless.

ViolaLass

I'm really unimpressed with Nationwide. I shouldn't have had to read about it on here.

Makes a BIG difference to me too since I'm about to go travelling/working around the world for several years. Why should I be penalised becuase I chose to leave the EU?

withnell

ViolaLass wrote: »

I'm really unimpressed with Nationwide. I shouldn't have had to read about it on here.

Makes a BIG difference to me too since I'm about to go travelling/working around the world for several years. Why should I be penalised becuase I chose to leave the EU?

They're still cheaper than nearly every other credit card / debit card on the market for the transactions!

MiserlyMartin

Inactive wrote: »

They also don't have a very good record of running customers affairs too well.

As this Nationwide change doesn't apply across most of Europe, it will not affect most customers.

That depends if if you work/travel/holiday in Europe or not. I don't as a rule. With the pound being so weak against the Euro, people are not going on holiday there. They are going to the USA or staying in the UK.

Nationwide are really not delivering value for their members and I urge everyone to vote out the board up for election at the next AGM. Protest at their poor products. I think I might even go to the meeting in person and voice my concerns.

MiserlyMartin

withnell wrote: »

They're still cheaper than nearly every other credit card / debit card on the market for the transactions!

That is not the point. You are clearly missing the point, which is that this a major shift in policy for Nationwide. This was a main selling point, which was totally commission free transactions abroad. Bring in any sort of charge and this blows this principle. Once that has gone there is no limit to the eventual chrages which may be raised to equal that of other cards.

What next? Charges for ATM's?

I have removed most of my money from Nationwide since they have started offering such poor rates, I urge all other savers to do the same. If so they will be in trouble. This new charge is the icing on their own cake.