Flex Account overseas' charges: tackling Nationwide at AGM

Biggles

Still the best debit card by far for withdrawing cash abroad. Apart from one (or maybe two) others, still the best credit card by far for use abroad.

There's so much whingeing going on about the withdrawal of a small perk (they're not even making a charge), I wouldn't be surprised if Nationwide say, "Ungrateful b*stards, we may as well charge 2.75% like everyone else"!

Trying_to_be_good

Whilst I agree that the advantages of the FlexAccount are being whittled away, I'd rather pay the low rate for foreign transactions but keep the rest of my banking free.

I didn't know FP were only for new customers, so will look into this. Most of my stuff is Direct Debit, but some is Standing Orders. Though as savings rates are so low, it doesn't make much difference if money takes a couple of days to get where it's going.

MORPH3US

Can someone tell me what "FP" stands for please?

p00hsticks

MORPH3US wrote: »

Can someone tell me what "FP" stands for please?

Fast Payment, I think

paulboy83

I use the flex account regularly abroad. I would have no problem whatsoever if NW put a minimum deposit limit on the account to get the free/lower rate withdrawals. It seems to me that most of those who are complaining are those who keep the account dormant for most of the year and only use it for their holidays. It's this kind of useage that leaves those of us who make good use of and appreciate the service worse off. NW won't offer me £5 a month for having their account, but I save much more than that each month by using the flex account and credit card.

I'm not impressed that they are adding a charge, but its still much lower than anyone else is offering and i'll be sticking around. Perhaps thats the idea though. Keep those like me who make regular use of it and get rid of those who just take advantage of the account.

will-in-estoril

paulboy83 wrote: »

It seems to me that most of those who are complaining are those who keep the account dormant for most of the year and only use it for their holidays.

As the OP for this thread I have raised my concerns precisely because I use the flex account as my only current account, into which goes my salary, and out of which come all my direct debits.

I would accept that there must be some who use the flexaccount only at holiday times, and agree that Nationwide could have chosen to apply a set of criteria which penalises only such account holders.

However, what has been proposed is a very blunt instrument, affecting all members, irrespective of their commitment to the society.

Pssst

I have been a nationwide customer for close on 20 years. they have always been great but in the last 5 years or so,they have gone downhill . Their customer service has gone downhill and now this? I'd support this motion.

withnell

never-in-doubt wrote: »

My term of the word shareholders includes management - after all, they are shareholders in every sense but the shares! as i said, learn the banking system then argue with me/

"Stakeholders" encompases both these groups

FluffyFiFi

withnell wrote: »

"Stakeholders" encompases both these groups

The management at Nationwide are elected and therefore do not have the same benefits of shareholders. As members of the Society we are all stakeholders, unlike the board we are not held accountable for our actions. If we don't like our account we can walk away. If the Board is not happy with results they can fire people.

The whole point of this thread is to say it is unfair to be charged something that Nationwide has paid for in the past. This has come to and end and they are passing on the charge.

In the current economic situation it seems prudent, I can't say I like it but it is still the best account for me. I use it as my bank account, I find it fair and have not had a problem with them. I would recommend this account to my family and friends.

Voyager2002

I joined Nationwide because of this perk. However, I gradually experienced more of what they offer and on the whole liked their quality of service, and so they now hold most of my savings while I use my Flexaccount as much as any of my other bank accounts. I understand that they have had to make economies that have resulted in a worse service for many of their members, but I think this is just one cut too many.

Anyway, could we please separate the threads? This interesting discussion should not be confused with the task of getting five hundred NW members willing to sign a motion for the AGM.