MSE News discussion. Nationwide kills cheap overseas spending

roddydogs

And you could miss out on any "Windfall".......keep £100 in one a/c.

Dustykitten

LondonPerson wrote: »

Perhaps the marketing pigeon hole for Flexaccount customers is now young somethings who go to Ibiza for a weekend, cash in hand, get plastered and more, but know they are OK since they have a Flexaccount should something happen [as long as the bike is not above 125cc and any other limiting terms], they would have obviously lost their debit card [they have many uses so I understand] and would have no need to draw cash out. Oh well since we don't fit into this marketing cluster, one should take one custom elsewhere [one could play with this for a bit].

I reckon that Nationwide management have bitten off more than they can chew on this one.

Their advertising choice of character will give you an idea of their target market IMHO.

It appears then from the last couple of posts that the letters have started to go out.

I'll keep my flex for convenience. There is never much in it and the branch is handy for me to pay in the odd cheque and to pays bills and write cheques for the children's school etc.

They lost my investments a while back when they ceased to be that competitive.

davidgmmafan

"Maybe NW is the best of a bad bunch still?"

I think this is thier goal to be honest, maybe they should adopt this as thier new slogan. Or perhaps Nationwide - Proud to be Average.

Re Santander http://www.moneysavingexpert.com/news/banking/2010/08/santander-worst-bank-for-customer-service

They are certainly on a par with Nationwide in the disappearing ISA stakes.

whitleyforest

Nationwide seems to be playing a dangerous game with its customers. Whilst it pays lip service to its shareholders -us, is it really listening?

Go to the website and read about Talk-back events. Where the complaints or indeed praise listed, no. Discussion group, this months hot topic is about higher education tuition fees, not the topic we want to discuss! No, they are using the site to give the society a nice bit of puff.

How many or you have either read or seen the annual report? Its very well tucked away deep within the societies carefully managed pages. Go off topic and your post will de deleted. Last yeat Nationwide earned £80 000 000 in comissions selling you insurence that had you spent five minutes on a comparison site you may well have saved a lot more. It continues about the need to reduce costs, hear hear, we all need to remain competative, however, when you consider that reducing costs is directly linked to the boards medium and long term bonuses!

Nationwide boasts every year about how good its mortgauge book is. its roughly 65% LTV, strong indeed, so why then if the risk to the societies investors is so low are the mortgauge rates so high. The rule of thumb i've noticed is - "if they are willing to lend you money then you either don't need it or you would do better elsewhere"

Last year Santender offered me on compleation of a 5 year fix 4.69 for five years with no fees at all. They have shareholders! The best at that time was 4.79% and a £1000.00 fee. So here I sit with no loans or investments in our mutual. I am in credit allways yet the benifits? of staying are outweighed by overwhelming benifits of changing.

Unless we can find a way of dealing with the board with one voice we are I fear doomed. Just look at the way they asked you to vote through the 17% wage rises for the board 2008/9. Either don't do anything and we will use your vote as we see fit, or tick here to vote though we did'nt really spell any of it out, nor give you the facts in an easy to read manner on the same page. We know best.

I am now heading to Santader to get my £100.00, 5%, and stand next to a cardboard cut-out of Lewis and Jenson (they put them in to make up for the lack of staff in the branches) Better service? maybe, maybe not. Better off....YES

PS If Nationwide were the main sponsor of the national football squad then who got the tickets?

davkt

luci wrote: »

Can I ask who you have your travel insurance with? It's always handy to have another company to try.

I called Nationwide Travel Insurance tonight and it's an additional £20 for worldwide cover. They covered the OH's PEMC with no additional premium.

My worldwide policy with Columbus for me and 3 kids was £41.49 last time I renewed it last year, not sure how Nationwide value their policy so high unless it is to justify equally high prices to upgrade it to something useful!
Looks like a totally useless policy for many people designed more with a quick PR win in mind than giving any real benefit. Pity they didn't mention (or ask for the opinions of members on!) this major change in direction for one of our major products to members at the last AGM!

davkt

nickoi wrote: »

It also is good travel insurance.

How is it good? doesn't cover me outside Europe, doesn't cover winter sports, doesn't seem to cover my kids. Yes I know they say it can be upgraded but given the frankly ludicrous valuation they have put on the policy I'd guess the upgrade costs will be rip off rather than competitive.
And how is it fairer giving all those folks who don't use their card abroad a travel insurance policy most of them will presumably not need ?

Olipro

davkt wrote: »

How is it good? doesn't cover me outside Europe, doesn't cover winter sports, doesn't seem to cover my kids. Yes I know they say it can be upgraded but given the frankly ludicrous valuation they have put on the policy I'd guess the upgrade costs will be rip off rather than competitive.
And how is it fairer giving all those folks who don't use their card abroad a travel insurance policy most of them will presumably need

indeed, many people have been calling for them to offer a choice to members and set some restrictions (if necessary)

so far however, it seems they couldn't give a flying fork

Stormy

Olipro wrote: »

indeed, many people have been calling for them to offer a choice to members and set some restrictions (if necessary)

so far however, it seems they couldn't give a flying fork

Yup, it appears the change is well in motion and they are just going to be resigned to losing some custom. Oh well.

Thing is where do I go for my day to day banking, don't want to risk Santander, how about Halifax reward?

I could go back to First Direct as never had an issue with their service but will I really be getting anything I don't already get with Nationwide service wise?

Halifax seems to have awful reviews from the survey here.

I will have to move on principle, but where to?

davkt

Just off the phone with them and have confirmed what I thought about upgrade charges. £50 (so close to to 25% more than my current worldwide family policy cost all together!) to upgrade the Nationwide policy to something useful. Guess that counts as a success for them, another policy with no chance of a claim been made on it.

apt

Stormy, you ask what you would get from First Direct, but not Nationwide. My answer - far better telephone banking, better faster payments, higher ATM withdrawal limit, access to more branches with shorter queues, staff that do what you ask them to without trying to flog you insurance etc as well. The layout of Nationwide's internet banking is clearer, but I'd rather have the free overdraft up to £250, linked 5% regular saver and better service. Although some individual Nationwide staff are good, overall First Direct's consumer service is much better.