MSE News discussion. Nationwide kills cheap overseas spending

le_loup

footintouch wrote: »

my initial reaction .... is to close all my accounts with your company. ....this is likely to be the final straw ...

Very decisive!
I bet they are really worried about your maybe language. Don't threaten, just do it, then they notice, or not, as the case maybe.

KTF

There is a talkback event in Bournemouth on September 30 is anyone wanted to raise this:

http://www.nationwide.co.uk/about_nationwide/listening_to_you/talkback/forthcoming_events.htm

KCS1503

I've just stumbled across a couple of FlexAccount related news links which are new - Unfortunately as a new user I'm still not allowed to post links so you'll need to reconstruct these
(just replace the " dot " with .)

www dot moneynews.co.uk/8976/nationwide-customers-could-qualify-for-higher-current-account-interest-rates-/
and
www dot prfire.co.uk/press-release/16-24-year-old-customers-to-benefit-from-nationwides-new-offers-website-22272.html

The first link holds out a hope that there might be "better interest rates" if you meet their criteria.

The second link is great if you're 16-24 years old, getting £750 per month paid in, watch DVDs and eat pizza.

Come on Nationwide just restore the overseas cash withdrawals, I don't need pizza or DVDs (although the better interest rate would be good too).

Kevin S.

Olipro

misinformation... you can get better rates on LENDING products (loans, mortgages etc), there is no tiered system for current account interest rates.

northernstar5

Has anyone actually received the info Nationwide is sending to Flexaccount customers about this?

Olipro

northernstar5 wrote: »

Has anyone actually received the info Nationwide is sending to Flexaccount customers about this?

no, and according to an earlier poster on this thread the complaints dept informed him that they have postponed doing so.

They must ensure that all account holders personally receive notice before Sept 1 or they will be in violation of the account terms if they then switch over to charging commission on Nov 1.

Dustykitten

northernstar5 wrote: »

Has anyone actually received the info Nationwide is sending to Flexaccount customers about this?

Cashier in our branch today said it was being sent out with the next statements but I guess we all get our statements on different dates.

northernstar5

Dustykitten wrote: »

Cashier in our branch today said it was being sent out with the next statements but I guess we all get our statements on different dates.

Interesting if that's the case. I don't get my next statement until after September 1st, which apparently is the cutoff date.

Traveller11

Olipro wrote: »

no, and according to an earlier poster on this thread the complaints dept informed him that they have postponed doing so.

They must ensure that all account holders personally receive notice before Sept 1 or they will be in violation of the account terms if they then switch over to charging commission on Nov 1.

Interestingly I wrote to Graham Beal the CEO expressing my concern at what is about to happen, also making him aware that a similar 'happening' took place some time ago with another organisation who received 10,000 Telephone calls in the first day from Members cancelling their Credit Card and going elsewhere.
Although the letter was marked "Private & Confidential" and hand delivered, Mr Beal did not even have the manners to acknowledge or reply but passed the letter to another Manager in a different location, who on the 2nd August confirmed by reply that the changes are taking place.

As a result of that I have now opened a Halifax Credit Card Account (0% Commission around the World + £5 back for every £300 spent on the card)
.
Electronic Banking is set up and next week I set up a Debit Card Account with Halifax taking care of moving all Direct Debits over, the account also comes with the possibility of 'creating' £60/Year in £5/Month payments from Halifax and this should I need it along with the £5/Month back on the Credit Card could pay the £80 Travel Policy that Nationwide tell me it is worth, with enough left over to celebrate a better deal! WOW! :T

I have also found that the equivalent 'E-saver' with Halifax pays 1.5% Interest and you can 'extract' as many times as you like with NO penalties as opposed to the 0.45% Interest rate from Nationwide.:eek:

I think we could see a significant Members revolt on this and I personally have no sympathy for people who prefer a packet of 'Paxo' to providing Customer Service. :mad:

KarenBB

I know bankswill move DD's over to a new account but I'd rather do it myself. I think banks send messages to the originators telling them to change the acct the DD is taken from and while the process is going through you're told to keep both accounts open and you don't know which one will be taken from which account. I'd rather make a few calls and transfer the dd's myself then I know when they've changed and the old account can be closed quicker this way.