Nationwide dithering indefinitely on Faster Payments

Legacy_user

Nationwide have admitted to me that they have no idea when they will be able to make FP work (apart from their current hand-crafted trials with accounts no-one actually has.) Since FP were announced in 2005, this is a poor show. cottager reported here
http://forums.moneysavingexpert.com/showpost.html?p=30790485&postcount=3
that it's all turning out to be Very Difficult. It looks as though Nationwide has discovered that its ancient inputting systems work OK with dear old BACS, but fall over when they try to talk to 21st century FP. So Nationwide members will go on making 'their' society a present of two nights' interest on every payment they make, for the foreseeable future.

ajharris

YoungNick wrote: »

Nationwide have admitted to me that they have no idea when they will be able to make FP work (apart from their current hand-crafted trials with accounts no-one actually has.) Since FP were announced in 2005, this is a poor show. cottager reported here
http://forums.moneysavingexpert.com/showpost.html?p=30790485&postcount=3
that it's all turning out to be Very Difficult. It looks as though Nationwide has discovered that its ancient inputting systems work OK with dear old BACS, but fall over when they try to talk to 21st century FP. So Nationwide members will go on making 'their' society a present of two nights' interest on every payment they make, for the foreseeable future.

The faster payments fiasco was one of the reasons why I no longer use the Nationwide as my main account. Apart from the cheap/free overseas withdrawals what else do these clowns have to offer? They do not even allow weekly standing orders.

Countless launch dates for FP have been and gone. Whenever I used to phone to ask about FP they would give the bull**** about experimenting on a few accounts first. Why not be honest and admit that they are firmly rooted in the nineties.

I cannot help but think that it is just a mattter of time before their oversas usage charges fall into line with everyone else, hopefully I am wrong. To make matters worse their in branch service is nothing short of dire.

cottager

On another thread:
http://forums.moneysavingexpert.com/showpost.html?p=30936357&postcount=80
Another inch forward, but hardly anything to cheer about...

MiserlyMartin

ajharris wrote: »

The faster payments fiasco was one of the reasons why I no longer use the Nationwide as my main account. Apart from the cheap/free overseas withdrawals what else do these clowns have to offer? They do not even allow weekly standing orders.

Countless launch dates for FP have been and gone. Whenever I used to phone to ask about FP they would give the bull**** about experimenting on a few accounts first. Why not be honest and admit that they are firmly rooted in the nineties.

I cannot help but think that it is just a mattter of time before their oversas usage charges fall into line with everyone else, hopefully I am wrong. To make matters worse their in branch service is nothing short of dire.

They have already started charging for overseas card transactions outside the EU. All of their expensive advertising campaigns about the benefits of being a building society have been pulled and forgotten about. Their savings rates have been shockingly poor and haven't been in any best buy tables for years. Their current accounts don't pay any interest at all now. With the faster payments fiasco they are looking like an embrassment to all building societies. I switched all my savings away from Nationwide the moment rates became poor and soon also my current account. They are a joke, and their internet banking has become unreliable - my Mother could not log in last night.

tao_2

Nationwide are now offering Faster Payments on all FlexAccounts (07-01-16, 07-44-56 and 07-02-46 accounts). FP receipts fully operational, FP sends limited to £250 currently, but they have at last started solving the FP issue.

@ MiserlyMartin - they don't charge for overseas card transactions outside the EU - VISA charge. Nationwide are simply now passing it on to the customer, rather than absorbing it themselves. Seems fair enough to me!

someone

@tao - I don't buy the 'its not nationwide charging you, its Visa'. Firstly its not as if its something new, all transactions have some sort of charge. Take LINK ATM usage in the UK, LINK was set up by the banks so they have a cap on ATM charges each bank charges each other. When will we be charged just for using another banks LINK ATM?

Olipro

someone wrote: »

@tao - I don't buy the 'its not nationwide charging you, its Visa'. Firstly its not as if its something new, all transactions have some sort of charge. Take LINK ATM usage in the UK, LINK was set up by the banks so they have a cap on ATM charges each bank charges each other. When will we be charged just for using another banks LINK ATM?

ok then genius, please tell me why they're not charging for EU transactions?

is it out of the goodness of their hearts?

Either way, it makes your conspiracy-theorist argument look stupid.

cottager

tao wrote: »

Nationwide are now offering Faster Payments on all FlexAccounts (07-01-16, 07-44-56 and 07-02-46 accounts).

Good grief, falls over with shock....
Not yet for future-dated payments, though: so only possible 'on the day'. Wonder why that is? What I mean is, I wonder what's so different or technically difficult about a future-dated payment compared with an immediate one.
http://www.nationwide.co.uk/faster_payments/default.htm