MSE News discussion. Nationwide kills cheap overseas spending

northernstar5

Biggles wrote: »

Best not to waste your time, there are no possible grounds for a formal complaint.

Campaign by all means, but they've obviously thought this out and won't be backing down.

The rules of the game change all the time, that's not new. We just have to be quick on our feet and try to stay ahead of the game.

The person I spoke to at Nationwide suggested I escalate things to the formal complaint stage.

avqs43

It seems that the days of free foreign cash are limited

As they say, there's no such thing as a free lunch.

mime20

Between us me & my parents have been with the Nationwide 40+ years (I started saving with them as a 5 year old!).
Our Flex accounts are used "properly" and between us we have a tidy sum tucked away in ISAs with them. "Free" european travel insurance is useless to us - my parents are over 75 and I've got a pre-existing medical condition which is never covered under these kind of deals.
Going to be emailing and writing to them but will be looking for somewhere else to bank - but I might just leave £1 in the account to keep it open just to annoy them!
I also like my dad's suggestion that on Nov 1 everyone withdraw all their money (bar say £1) for a month and see what happens then...

chexum

Sorry - the exclamation marks was nothing rude, but it comes out as I'd be angry at someone

Biggles

northernstar5 wrote: »

The person I spoke to at Nationwide suggested I escalate things to the formal complaint stage.

I think I'd have done the same in their place to get rid of customers asking hard questions!
;-)

Olipro

Gamegal wrote: »

The 'formal complaint stage' being a wastepaper bin, no doubt! :mad:

there's only so many pieces of paper you can throw into a wastepaper bin before it starts overflowing.

the more complaints they get, the more compelling it becomes to give a response.

MrGumby

leew wrote: »

I'll be getting shut then of my Nationwide Account as that was the only reason i really used it !

GOOD!!!!

As someone whose main current account is with Nationwide and has been for many years, I am effectively subsidising those who use the account only for cheap overseas spending. So, although the changes impact me (I normally get off a plane and go straight to an ATM to get foreign currency), they are probably for the best.

MrGumby

londonguy1 wrote: »

As I travel outside Europe once a year, the 'free' travel insurance won't be of any help.

I agree. I too tend to travel outside Europe at least once per year, so buy annual worldwide travel insurance. The Nationwide Europe-only insurance is of no value to me. They should offer an option of paying a supplement for worldwide cover. Or they could offer worldwide cover excluding baggage insurance as an alternative to Europe cover with baggage insurance.

londonguy1 wrote: »

the difference between Nationwide and the other banks and building societies - once so marked - is gradually being eroded and I do wonder now why I'm with them. There were other ways of tackling this perceived 'misuse' of Flex accounts but Nationwide has gone for the easy option and penalised everyone. This is a step too far.

I agree with that too. I've had a Flex account for 20 years and watched the benefits and service gradually being eroded. When I've moaned about anything, they've always sent defensive replies and taken no notice. I've been thinking of switching for a while now, so maybe the time has come.

dzug1

MrGumby wrote: »

. They should offer an option of paying a supplement for worldwide cover.

.

They will be, according to the ?press release? I saw

frankie

mime20 wrote: »

I also like my dad's suggestion that on Nov 1 everyone withdraw all their money (bar say £1) for a month and see what happens then...

That's the way to do it!!:beer: