Nationwide have really disapointed me

Katykat

I really trumpeted Nationwide to all my family & friends when they go abroad. It is a boon not paying debit & credit card charges- but what do they do???? THEY ARE STARTING TO CHARGE NOW. Credit cards from 1st May & debit cards from 1st June. I'm now on the lookout for a card that doesn't charge. I really think Nationwide has shot itself in the foot.

rb10

Katykat wrote: »

I really trumpeted Nationwide to all my family & friends when they go abroad. It is a boon not paying debit & credit card charges- but what do they do???? THEY ARE STARTING TO CHARGE NOW. Credit cards from 1st May & debit cards from 1st June. I'm now on the lookout for a card that doesn't charge. I really think Nationwide has shot itself in the foot.

Remember that Nationwide's charge is actually very small. You will pay 1% outside Europe. Most banks have ~2.75% + about £1.50 fee per transaction. I personally think that Nationwide is still a very good deal for when going abroad.

But, if you frequently go abroad, there are others (Abbey & Post Office?) who have credit cards with no fee or % loading. (Yet).

Lokolo

Katykat wrote: »

I really trumpeted Nationwide to all my family & friends when they go abroad. It is a boon not paying debit & credit card charges- but what do they do???? THEY ARE STARTING TO CHARGE NOW. Credit cards from 1st May & debit cards from 1st June. I'm now on the lookout for a card that doesn't charge. I really think Nationwide has shot itself in the foot.

Because obviously banks are there wanting to make cost > revenue....

Harveycat_2

Read it and weep...

http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=480069&in_page_id=9&ct=5

I had a couple of hundred in there which I top up to use for holidays. I just transferred it out to pay off my credit card and closed the Nationwide account because that's all I used it for..

All good things come to an end I guess.

Still..... There's always the Post Office ..... for now!

rb10

The Nationwide press release that says about this says:

In addition to the changes listed above, with effect from 6 May 2009, any charges incurred by the Society on behalf of our customers from our card scheme provider, including Visa, or other body or institution, may be passed on to our customers and debited from their account (subject to 30 days' notice). This change will affect credit and debit cards.

Does this mean that the 1% charge will only be applied 30 days after the purchase? Or am I reading it wrongly?

KTF

All these people who are going to shutter their current accounts and look for alternatives. Exactly what alternative are they going to given that the charge that Nationwide are introducing are still much less than their competitors?

Cozworth806

KTF wrote: »

All these people who are going to shutter their current accounts and look for alternatives. Exactly what alternative are they going to given that the charge that Nationwide are introducing are still much less than their competitors?

A lot of people myself included actually don't use Nationwide as their day to day account, but keep it to use overseas. So it would be no big loss to them now if that perk has been withdrawn. It was the last USP for the flexaccount, and frankly yet again shows Nationwide doesn't understand or care about its customers.

McKneff

I only used my card when we went abroad, i think i saw a thread the other night that cards used in some countries are not charged. There was a list. Amsterdam being one of them, does any one else remember it.

menhim_2

least that should be an end to that annoying TV ad and the shareholders bubbly ;-)

Dont think Nationwide will have much to advertise about at all now.

There goes a few more ITV dramas!!!

rb10

Cozworth806 wrote: »

A lot of people myself included actually don't use Nationwide as their day to day account, but keep it to use overseas. So it would be no big loss to them now if that perk has been withdrawn. It was the last USP for the flexaccount, and frankly yet again shows Nationwide doesn't understand or care about its customers.

It would be a big loss to them! The charge Nationwide are making is still way less than other banks. If you ever go abroad, it's still well worthwhile keeping a Nationwide Flexaccount for overseas purchases.

littleowl

The change does, of course, only apply outside Europe and the charge is very small. Thus Nationwide is still offering an excellent service in comparison with most banks.