Nationwide - Not so different?

rbulph

Probably they lose money on the commission free use of their credit and debit cards abroad. Got to make it up somewhere.

jonesMUFCforever

Come on now - nobody actually believes any telly ads do they??

codetown

unfortunately Nationwide has become one of the worst around. It was a jewel only 5-6 years ago. I recommended it to all my friends and was always pleased with them. Not anymore!

They have just forgot the members and the board is too distant from reality to remember that thier mission should be to satisfy us. If much smaller outlets as Coventry BS or others can offer very attractive saving accounts, why Nationwide can't?

marksward

Not all there products are the best or most competitive, but I've always done well with them. Also recently re-mortgaged after seeing a broker who couldn't find a better long term fixed rate that would allow over payments. The staff were very helpful and the branch was open on a Saturday, which is more than HSBC, last time I had an account with them there was one memeber of staff essentially pointing you to red phones on the wall.

I think the days of them hanging on as a BS is pretty much numbered and I wonder where the money goes - the products certainly aren;t always the best as I said, In fact short term I'd love them to convert so I could pay off some of the mortgage

kenshaz

homersimpson wrote:

they should stop wasting money on those silly adverts, posh buildings which are open shorter hours and huge pay increases to directors who seems to care little about the members who own nationwide. that should save a bit which they can then pass onto us.

They are not silly adverts they are brilliant,they still offer advantages over other banks and building societies and are worth having in your portfolio,no mention of the use of their cards abroad.

Paul_-C-

rbulph wrote:

Probably they lose money on the commission free use of their credit and debit cards abroad. Got to make it up somewhere.

I'm sure they adjust the conversion rate to make sure they aren't losing out.

malky39

Paul_-C- wrote:

I'm sure they adjust the conversion rate to make sure they aren't losing out.

They cannot do this as the converstion rate comes from Visa and not Nationwide themselves

Searcher2

I have always had excellent rates from credit and debit cards with Nationwide. I lived in Spain for over a year and it saved me a fortune - free cash withdrawals (on debit card) from any machine whereas Spanish people got charged if they didn't use their own network of machines. Very handy for holidays when you just want to withdraw 10 Euros and not get charged £1.50 or more for the honour.

nomoneytoday

marksward wrote:

In fact short term I'd love them to convert so I could pay off some of the mortgage

The old building societies now charge more interest now they are full banks... so they get it back one way or the other...

Gordon_the_Moron

To be fair they can't offer the best rates on everything, the current account is probably a loss leader, they need to recoup it somehow, use the good accounts from each provider and be the customer they hate.