MSE News discussion. Nationwide kills cheap overseas spending

RobertinHerts

MiserlyMartin wrote: »

I don't know how much it will save them from this switch if anything, but what I would ask you is, how many flexaccount customers will they lose from this policy who will also be that disgruntled they will remove their mortgage, loans and savings, and how much market share will they lose overall from this? How much future business will they attract now?

And those of use that were very 'proud to be different' would have been happy to recommend Nationwide to friends and family too.

Robert

RobertinHerts

KTF wrote: »

...and all the hassle that can cause?

That's what Nationwide is relying on.

Robert

RobertinHerts

Don't recall seeing this article in this thread: Saturday's article in Guardian Nationwide to charge for FlexAccount overseas cash withdrawals, mentions Martin.

And from MoneySupermarket Comment on unpcoming changes to the charging structure of Nationwide's FlexAccount

Lots of comments on Twitter too...

Robert

pittcity

I might keep my Nationwide Debit Card simply because it is the only VISA card I have and I will need one to buy tickets for the 2012 Olympics!!

Freebyman

I am also very incensed :mad: about all this, I have several products with them and to be honest was considering moving a long time ago but this perk made me stay. I have sent an email via my account online and will be interested to see what they say. Thankfully I am going on holiday in September and this wont apply but next Mays holiday looks like I will have to switch.

splodgerson

I think you should just have money in the society to prove you are a good customer. I am unemployed now so does that mean I can't have a flexaccount because I can't pay in any wages. What about pensioners and all the other types of people who don't work? Also people who do work, but only part-time. Very low wages.

Anyway I think what the hippocrites at Nationwide are about to do is disgusting and I will remember their names when they want my vote next year.

And remember this. Just because they work for Nationwide doesn't mean they are nice mutual people. They probably all worked for banks before so don't be surprised when they act like bankers. Or banksters as I have heard them called.


I have been with Nationwide for 47 years and this is the lowest point they have reached. The last time I was disgusted with them was voting on demutualisation in around 1997 and the counterstaff asking pensioners if they had filled in their voting forms. If they had not, out came the forms and the staff filled them in whilst leading them all the way. I told the staff what I thought of them. Nationwide's idea of democracy and quite open about it in front of the customers!

Ian3_2

How does Nationwide's exchange rate compare to that of Halifax's Clarity card? Nationwide's exchange rate for card purchases seems to be quite good, is it possible that it could beat the Halifax Clarity card even with the 1% load factored in?

ManAtHome

Dunno about the Clarity yet (have applied and will be testing next month), but the new NW charges makes it worse than Caxton, FairFX, and Rational prepaid cards. In theory, the Clarity should beat the prepaid cards providing you pay off the balance at the billing date (even cheaper if you pay it earlier).

Above is worked on prepaid cards costing just under 2%, NW around 2.3%, and Clarity at 0.25% a week (conversion plus ATM charges for 300 euro withdrawals).

As I understand it, NW use the Visa rate and the others use Mastercard - allegedly minimal difference between the two, but as I said, yet to be tested...

Olipro

Ian3 wrote: »

How does Nationwide's exchange rate compare to that of Halifax's Clarity card? Nationwide's exchange rate for card purchases seems to be quite good, is it possible that it could beat the Halifax Clarity card even with the 1% load factored in?

the Nationwide credit card will remain commission free for purchases within the EU and 1% outside of it.the Flexaccount debit card will not.

Therefore, Clarity will beat a Flexaccount debit card regardless, it would also beat it for cash in most cases so long as you were able to credit the money back to the card immediately after withdrawal (you would, in most cases, need to clear the entire balance to avoid incurring interest)

comparing the Nationwide CC to the Halifax CC - within the EU they are the same when it comes to purchases, the Halifax one wins on cash withdrawals and it wins on both when it comes to non-EU countries.

Jendel

So Chris Rhodes from Nationwide says "If you bank with Nationwide and support our products we want to give you a reward"
So Chris, for people like us who have banked with Nationwide and have been loyal to you for 20 years, how will you reward us? Oh of course...tar us with the same brush as everyone else and charge us more for using our cards abroad!!! Thanks, if only we could have thought of a reward scheme as good as that!
Maybe it's time for change?