MSE News discussion. Nationwide kills cheap overseas spending

common_sense_for_all

Sorry for the excessive use of capital letters - point taken.

I totally agree with you that NW had a choice to impose certain conditions - then it would have been the choice of the so-called "non-genuine" members to make their Flex-account their main current account - I think Nationwide would get improved business through that.

abvinuela

A few posters on this thread are obviously expats (as we are). We have all our income paid into Nationwide, then draw it here as needed. Along with all our savings in various accounts. The problem is there doesn't appear to be a bank in the UK who will open a current account for someone living in Spain. I've contacted both Santander and Halifax, and both said you've got to be resident in UK to open an account. I know you can lie if you have a UK address you use, although the ID part would be difficult, but since it's so easy for a UK resident to open an account in EU countries, why is the reverse not possible. Or has someone found a bank willing to accept them?

Inactive

abvinuela wrote: »

A few posters on this thread are obviously expats (as we are). We have all our income paid into Nationwide, then draw it here as needed. Along with all our savings in various accounts. The problem is there doesn't appear to be a bank in the UK who will open a current account for someone living in Spain. I've contacted both Santander and Halifax, and both said you've got to be resident in UK to open an account. I know you can lie if you have a UK address you use, although the ID part would be difficult, but since it's so easy for a UK resident to open an account in EU countries, why is the reverse not possible. Or has someone found a bank willing to accept them?

Why not open an account with a Spanish Bank and have your income paid in to that?

gusmelv

Be careful in comparing apples and pears!!

I just checked today with Halifax regarding their "super" Clarity card with "no charges" for overseas use.
When I queried their exchange rates, I was told that today (at around 2.00pm) it was 1.142 euros to pound. This compares with market rates of just over 1.20 to the pound at the same time. So.........this equates to around a 5% exchange charge compared to Nationwide.

Made me stop and think again!!

glider3560

gusmelv wrote: »

Be careful in comparing apples and pears!!

I just checked today with Halifax regarding their "super" Clarity card with "no charges" for overseas use.
When I queried their exchange rates, I was told that today (at around 2.00pm) it was 1.142 euros to pound. This compares with market rates of just over 1.20 to the pound at the same time. So.........this equates to around a 5% exchange charge compared to Nationwide.

Made me stop and think again!!

Halifax are giving their exchange rate for international transfers. If you have a Visa card, then the exchange is made by Visa NOT the bank. Therefore you'll get the Visa rates shown here: http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

Aotearovas

Biggles wrote: »

Surely, any travel insurance only ever covers motorcycling where it is merely a 'holiday activity'?

If you were actually touring Europe, on any size bike, you'd need your normal motorcycle insurance with European cover added? Plus, of course, travel insurance for all the usual things like cancellation, loss of luggage, personal accident etc etc.

I'm not sure of the point you're making. I'm not talking here about simply hiring mopeds in a resort, though the NW policy probably is. When driving abroad by car or motorbike, usually but not exclusively on holiday, you would of course need your normal vehicle insurance which nowadays usually includes foreign use cover. But this is not travel insurance. When I do take out travel insurance to cover cancellation,luggage loss, medical emergency,etc I don't then want to find that all the cover is invalidated because I didn't notice the policy excludes me when I travel for a fortnight in France by a bike which is larger than 125cc. Both my bikes are much larger than that, so I need a travel insurance which accommodates them. I have got that. It covers me and I'm not going to give it up for the Nationwide ' free offer', because it is not appropriate for my purposes. Which is why I find the NW travel policy useless and why I urge bikers to read the small print, whichever travel policy they are considering.

ManAtHome

gusmelv wrote: »

Be careful in comparing apples and pears!!

I just checked today with Halifax regarding their "super" Clarity card with "no charges" for overseas use.
When I queried their exchange rates, I was told that today (at around 2.00pm) it was 1.142 euros to pound. This compares with market rates of just over 1.20 to the pound at the same time. So.........this equates to around a 5% exchange charge compared to Nationwide.

Made me stop and think again!!

Sounds like you asked the wrong person....

Halifax currency services rate for (paper) euros is 1.14, the Clarity (Mastercard) rate is 1.20 ish - pretty much the same as the Visa/Nationwide rate.

chriskross

Aotearovas wrote: »

I'm not sure of the point you're making. I'm not talking here about simply hiring mopeds in a resort, though the NW policy probably is. When driving abroad by car or motorbike, usually but not exclusively on holiday, you would of course need your normal vehicle insurance which nowadays usually includes foreign use cover. But this is not travel insurance. When I do take out travel insurance to cover cancellation,luggage loss, medical emergency,etc I don't then want to find that all the cover is invalidated because I didn't notice the policy excludes me when I travel for a fortnight in France by a bike which is larger than 125cc. Both my bikes are much larger than that, so I need a travel insurance which accommodates them. I have got that. It covers me and I'm not going to give it up for the Nationwide ' free offer', because it is not appropriate for my purposes. Which is why I find the NW travel policy useless and why I urge bikers to read the small print, whichever travel policy they are considering.

You did read page 6 properly?:
"Hazardous Activity
"Flying, except while travelling in a fixed wing aircraft or
helicopter as a passenger, not as a pilot or aircrew, nor for
the purpose of undertaking any trade or technical operation
in or on the aircraft. Hang-gliding, ballooning, paragliding,
parachuting, parascending or other aerial activities.
Motorcycling on machines exceeding 125cc unless you hold
a full motorcycle licence and have done so for at least three
years and are accident and conviction free."

Doesn't look like it excludes a keen biker - or am I missing something?

LondonPerson

I had the insulting letter from Nationwide today, insulting my intelligence with regard to the statement "it has provided a huge benefit to a tiny minority of our current account members" diddums. You can't beat a good bit of divide and rule when you want to do something, like charge people more money and offer them rubbish in return ie. the free European policy "worth up to £80 a year". They fail to mention this is computed on a couple shifting both their accounts to Nationwide and what proportion of nationwide members want couples insurance for Europe only, want to put Nationwide as their main bank. Obviously this would be another perk for "a tiny minority of our customers" since the rest wouldn't want it. So members have abused Nationwide for a feature they offered whilst in return they will abuse members by offering a service that people don't want and won't take up. Obviously they would have to drop that service since it benifited a tiny minority of customers - two faced springs to mind.

Answer to the one of which bank to use that gives you a debit card with zero percent charges for using abroad, no charges and better interest rates on accounts and does not need you to make it your only account. It's Metro bank, just the one branch in London at the moment. Dog biscuits are free + toilet etc. They use Mastercard debit card. It would appear that all the other banks have requirements of paying in a given sum of money each month, making it your only account etc, whilst this one resembles the Nationwide deal the most except it pays higher interest on their alternative to e-savings. It's the solution for Londoners or anybody with access to London. Online banking I am told is due to come online in the next few days, issue if it doesn't.

Just don't all go along on the day I'm intending to join up. The guy on the telephone was very helpful unlike Nationwide customer services that don't listen and know best. They [Nationwide] have just silently withdrawn the Cirrus payment card as well this month so you can't use the replacement card abroad. I used Cirrus payment card for drawing money out of ATMs abroad and VISA debit card for paying for stuff.

The sooner people vote with their feet of pulling money out of Nationwide the sooner we'll get rid of the duff management that runs it and they may stop abusing their customers.

gusmelv

Glider/Manathome

I'm not "usually" thick but it may be I've missed something here.

I was discussing opening accounts here and in Spain with a view to withdrawing funds in Spain and, occasionally transferring funds from UK to Spain.

If I am reading you correctly........it would seem that I would be better withdrawing cash in Spain on a Clarity card and then paying the cash into my Spanish account? - rather than transferring funds on online banking?

Or sticking to my Nationwide cards and doing the same?