MSE News discussion. Nationwide kills cheap overseas spending

Megalomaniac

marklee wrote: »

To be fair to NW... I still disagree massively with the change, but I was impressed that they got someone who seemed reasonably knowledgeable and intelligent to phone me and talk to me about the change and the reasons for it in quite some depth... He still didn't convince me though.

I'm sorry to say this, but they rang me when I complained last time they put the fees up - tried to reassure me this was temporary and that in fact, they would be looking to remove them sooner rather than later. It did reassure me to a degree, but now I see this, I can see they BS'ed their way through that.

I'm off to a bank where I don't feel alienated. I am shocked that a company can just do that to all their customers and tell you just how good it is!

Olipro

Megalomaniac wrote: »

I'm sorry to say this, but they rang me when I complained last time they put the fees up - tried to reassure me this was temporary and that in fact, they would be looking to remove them sooner rather than later. It did reassure me to a degree, but now I see this, I can see they BS'ed their way through that.

I'm off to a bank where I don't feel alienated. I am shocked that a company can just do that to all their customers and tell you just how good it is!

If I were you I'd call them up on that, that's quite a liberty they've taken there.

Olipro

marklee wrote: »

The comment from the Nationwide representative was that they have to pay a fixed fee plus a conversion charge. The percentage that they pay is lower than what they will charge customers, but the fixed amount that they pay is higher than what they will charge customers.

I don't believe that they're paying more than £1 fixed fee, that just doesn't sound right.

As for the interchange fee, that'll be 0.2% for the Visa Europe region since the settlement they made with the EU back in April.

Olipro

Gamegal wrote: »

Personally I take offence that I am considered to have ABUSED my Flex account because I used it as a means of obtaining free withdrawals at virtual bank rate when going regularly to Spain. Nationwide have had thousands from me into my Flex a/c .. which I've had no interest on (lately), not to mention my Invest Direct a/c & FR bonds.

If Nationwide didn't stipulate, when I took this a/c out, that they expected it to be my main a/c that is hardly my fault. I resent certain members going on & on about the likes of me causing this scenario. :mad:

yes, such people are essentially being used as a scapegoat, however, if they want to get rid of such people, I do not object to decisions that will send you off.

What I object to are scorched earth decisions that are to the detriment of all members, the free travel insurance is, in my opinion, a mutually exclusive perk, if you feel it isn't then this can quickly be deconstructed by offering members a choice between one or the other.

Olipro

Gamegal wrote: »

Plain nasty that comment! I think Nationwide SHOULD make it as it was before BUT ensure Flex customers pay in the £1000 a month, I'd not have any objection to that especially as I put that & MORE in anyway over a year.

if you would actually be willing and able to fulfill criteria that prevents proper members being penalised then clearly you aren't someone who would be "sent off" so there's no need to take offense to what I am saying since it doesn't apply to you.

The only people I would expect to take offense are those who would object to the imposition of any and all eligibility criteria.

RobertinHerts

Stormy wrote: »

Hi,

Just read the news.

Thought I would add my voice here, I like many have used my Nationwide Flexaccount as my main account for many years and I have always liked their ethic and I travel to Europe on a regular basis and loved the fee free ATM withdrawals as it meant I could get the amount of money I needed and never have to mess around with getting foreign currency here in the UK.

I again like others have half heartedly looking at other better current account deals out there and this will be the straw that breaks the camels back for me so I hope they will be happy losing my salary each month, and all my day to day banking.


I do however want to write a letter of complaint, who should this be sent to?


Mike

This is the person I wrote to having picked the name up earlier in this thread as being the person responsible:

Chris Rhodes
Group Product and Marketing Director
Nationwide Building Society
Nationwide House
Pipers Way, Swindon
Wilts SN38 1LN

luci

NickTipping wrote: »

I hate writing letters, so does anyone have an email address to send a complaint to? Thanks in advance.

If you use internet banking you can send them a message using their Message Centre. If it's quite long, make sure you copy it before you submit it as it may time out.

One of the option is actually "Changes to the FlexAccount". I used that one instead of the "Complaint" one.

northernstar5

RobertinHerts wrote: »

This is the person I wrote to having picked the name up earlier in this thread as being the person responsible:

Chris Rhodes
Group Product and Marketing Director
Nationwide Building Society
Nationwide House
Pipers Way, Swindon
Wilts SN38 1LN

And here he is!

RobertinHerts

marklee wrote: »

Interesting.

Just had a phone call from Nationwide in response to my complaint yesterday.

The representative explained the rationale behind the change (which was repeating the reasons already picked over here a million times).

... they would also lose many of the people who abuse the accounts,

I hadn't realised that they actually used the word 'abuse'. So all those who followed Martin's advice are officially 'abusers'.

Robert

marklee

RobertinHerts wrote: »

I hadn't realised that they actually used the word 'abuse'. So all those who followed Martin's advice are officially 'abusers'.

Robert

Basically yes. People are using the product in a way that the vendor did not intend, and the vendor considers it abuse.

What Martin has to say has nothing to do with it, really...