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Nationwide's new charges for overseas use.
eeja
Posts: 374 Forumite
As they have not mentioned this particular aspect of the charging soon to be introduced , does anyone know if Nationwide intend to introduce simultaniously (by stealth ) a MINUMUM charge for overseas card use as an additional aspect of the 1% fee ?
This is quite important for travellers as a small cash withdrawal at an overseas airport ATM of enough currency to get into town would cost just pennies if a flat one percent . Ditto a small cheap purchase overseas using a debit card whether online or in person.
A minimum charge of a few pounds on each and every transaction however could alter the economics of all that.
nb this concerns only countries where the charge will apply namely mainly those outside Europe !
This is quite important for travellers as a small cash withdrawal at an overseas airport ATM of enough currency to get into town would cost just pennies if a flat one percent . Ditto a small cheap purchase overseas using a debit card whether online or in person.
A minimum charge of a few pounds on each and every transaction however could alter the economics of all that.
nb this concerns only countries where the charge will apply namely mainly those outside Europe !
0
Comments
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I don't think they are - I've just had a look here: http://www.nationwide.co.uk/current_account/foreigntransactions.htm0
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I don't think Nationwide have any hidden agenda to increase charges by stealth.
Apparently, Visa have increased their charges and Nationwide feel they can no longer absorb this extra cost and have passed on this recent increase. The increase does not apply to transactions in Europe and not all overseas countries.
The 1% charge where applicable, still makes the Nationwide Visa card one of the cheapest to use whilst abroad.
Time will show if I am correct or not.0 -
eeja,
Your main problem, particularly outside Europe, will be finding a machine in an airport that won't levy a flat fee.
As Exo says though, the Nationwide account is still far and away the best card for overseas use.
1% for outside europe and 0% for within and no charges. Compare that to £1.50 per transaction and a 3% currency loading fee for several high street banks.
On a purchase of £20 that is a saving of £2.10 or over 10%!
R.Smile
, it makes people wonder what you have been up to.0 -
I agree, I've had the best time and easiest time with Nationwide while abroad0
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