MSE News: Nationwide limits overseas withdrawals for cash card holders

100steve

Had a letter from them this morning telling me that for my own good I was going to be transferred to a cash card plus account in June -this was to provide additional benefits. I fail to see this as I have a fulex account and will therefore lose cheques and overseas cash withdrawls - not bad for a customer of 30yrs with a healthy+ account consistently. Th suggested option was to close account and go elsewhere.

Baldur

c-m wrote: »

I'm going away on 11th June.

does this change take place for all holders from 1st June or does it only start when you receive your new Cash Card?

I imagine Nationwide will make sure that those who've used their card abroad will be the 1st to receive the new card.

See the Q&As here- http://www.nationwide.co.uk/current_account/card-changes2.htm

I seem to recall seeing a post on these forums containing a reply from NW to the poster's query, which indicated that a short period of grace (maybe 10-14 days?) would apply from the date of receipt of the new card. Suggest that you check with them.

oranger

I'm confused. My account is a Flex Account - it says so right there on the internet banking - but I have a cash card as they wouldn't give me a debit card. Am I affected by this change (I only use my card overseas)?

Baldur

oranger wrote: »

I'm confused. My account is a Flex Account - it says so right there on the internet banking - but I have a cash card as they wouldn't give me a debit card. Am I affected by this change (I only use my card overseas)?

Flex accounts are of two types, one which comes with the VISA Debit Card, the other (currently) with the Cirrus Cashcard - soon to be Cashcard+.

Yes you will be affected apparently, as per the link in my post above yours.

kjetilniki

"Nationwide says those who want to use it overseas can apply for a FlexAccount, though you'll need a decent credit score."
I have a flex account. i have a £50 cheque gtee card which operates as a cash cardwhich is link.
Iuse it to get my overseas currency from ATMs abroad in Europe.
Do I have to get a debit card (for the abuse of which [unlike a credit card] I am responsible i believe without limit in order to get cash abroad without paying for cash withdrawal eg on my N'wide Visa credit card?

Baldur

kjetilniki wrote: »

"Nationwide says those who want to use it overseas can apply for a FlexAccount, though you'll need a decent credit score."
I have a flex account. i have a £50 cheque gtee card which operates as a cash cardwhich is link.
Iuse it to get my overseas currency from ATMs abroad in Europe.
Do I have to get a debit card (for the abuse of which [unlike a credit card] I am responsible i believe without limit in order to get cash abroad without paying for cash withdrawal eg on my N'wide Visa credit card?

Read the last few posts and check the link to the Cashcard+ information in my earlier post and the answer to your question is there.

Cashcards are being replaced between June & September.

The replacement, Cashcard+ will not permit ATM withdrawals abroad.

Yes you will need to upgrade to the VISA Debit Card, if Nationwide approve your application.

King_Of_Fools

Actually Nationwide currently have three types of Flex Account:

1. The full account with a Visa Debit card and chequebook - the Visa Debit card includes a cheque guarantee feature and can be used as a cash card in Link or Visa ATMs
2. A mid-tier account with a cheque guarantee card and chequebook - the cheque guarantee card can be used as a cash card in Link or Cirrus ATMs
3. A basic account with a cash card, which can be used as a cash card in Link or Cirrus ATMs

Those accounts are changing as follows:

1. New Visa Debit cards issued will no longer have the cheque guarantee feature: http://www.nationwide.co.uk/cardchanges3
2. The mid-tier account is being removed and users will be moved to the new cash card+ and will lose the cheque guarantee feature, chequebook and ability to withdraw from ATMs abroad: http://www.nationwide.co.uk/cardchanges1
3. Basic account holders will receive the new cash card+ and will lose the ability to withdraw from ATMs abroad: http://www.nationwide.co.uk/cardchanges2

MRMX9

I can fully accept that Nationwide are perfectly within their rights to withdraw the ability for cash card holders to withdraw cash abroad. Although I fail to understand why they are permitting payments to be made abroad?

What irritates me is the tone of their leaflet/website which suggests they 'are improving my account' and 'making it easier to access my money'. Clearly they are doing neither as they are making it more difficult.

As someone who has been a member for 15 years, has 2 savings accounts, a Nationwide credit card and home insurance with them I would rather not be patronised please!

NoBob

We're improving your account. Yeah, sure you are. Tell that to those who started out on extended trips abroad, like me, and use their card in ATMs.

blueplatinum

MRMX9 wrote: »

I can fully accept that Nationwide are perfectly within their rights to withdraw the ability for cash card holders to withdraw cash abroad. Although I fail to understand why they are permitting payments to be made abroad?

Because the retailer carries the costs. ATM costs are passed on to the card issuer.