MSE News discussion. Nationwide kills cheap overseas spending

Fortyfoot

METRO BANK LINK HERE

May be worth a trip down to London?


Fortyfoot

LondonPerson

They [Metrobank] print off the debit card plus cheque book there and then for you. On the pin they pass the pin device to you and you type in twice your preferred pin. You don't get that situation of where you are given a pin but you can't change it to the one you like. On the internet banking you take control of their terminal and fill in the screen with the security questions, the numbers and the text whilst they stand up and look elsewhere. Text password, numbers your favourite ones. That doubles up for phone banking and internet banking. So that's painless.

As said you can pay straight into the account or their holding account, think it was the latter using your debit card to open it up and then they splatter the money into your accounts that you have opened in the proportion that you request. You then leave with your new debit card, cheque book, information pack and free gift. Afraid I did have a bit of a natter to the guy who originated from the same location as I do so that probably delayed it for other people ... it was fairly quite to open an account since I had been told when the optimum time was to arrive by another friendly chap on the phone.

A nice touch which I have seen elsewhere but mainly in restaurants but I can't remember where, is that they have those little paging devices to deal with queues whilst people are opening accounts [generally used to page you when a table becomes free], they dish out these devices which page you when they are ready for you. You might be able to cross the road and have a sandwich, I think the devices tell you when you are outside radio range.

I think they have a fairly young crew and run to those American ethic lines a bit like Asda. Apparently during the delay in opening the bank they all did other jobs in the bank as part of setting it up. Then they were given two weeks leave just before it opened as long as they made it up.

davidgmmafan

davidgmmafan wrote: »

"At least Nationwide have done one decent thing. As of November 2010, they will be capping fees for bounced DD's and SO's to £15.00"

Bit of topic but bid deal. Just like all the other BANKS they've lowered the charges whilst steadfastly denying any wrongdoing. If this sounds familiar its probably because that's exactly what our MP's did. Backslapping all round for this 'bold' move.

I quite agree you are preaching to the converted. I think a charge of £5 for doing sod all is ample to cover thier overheads and some profit too. That was one of the main reasons I left Nationwide's employment, I felt as a Buidling Society they should've lead the way on this. Instead they are upstaged by Natwest having markedly lower charges.

BTW from the inside yes thay want to be like a bank, it became more apparent with each passing day. I've never met Mr Beale but as a customer and staff member IMO he is a !!!!!.

NoBob

I've been with Nationwide for more than twenty years, too. In fact, I've never really banked with anyone else, apart from opening a Midland account many years ago, which was eventually closed through lack of use.

Got two Flexaccounts, a NW credit card, ISAs (cash and an e-ISA, opened just recently) with them.

Despite the non-existent or rubbish interest rates, I also stuck with Nationwide because I travel a lot, mostly outside Europe on extended trips, so the travel insurance is useless for me. Plus, I always get mine from STA Travel anyway. I'm travelling in Asia now.

I've put together a letter to send via the online banking message system, and included the Youtube link (youtube.com/watch?v=la0gB_FJ3gY) to the old TV advert about ATM charges as tips. Thanks to the person who posted the link here.

daddyspider

Like many others who have commented, my wife and I have been customers for Nationwide's various financial services for more years than we care to remember.

We started our withdrawal, however, by transferring our four ISAs when the interest rates took a dive.

The latest insults to loyal customers have convinced us to shift funds from our flex- and e-accounts to chase rates with Santander. At least there we will see some temporary return on capital and qualify for cheaper overseas money.

Having saved all our lives, and priding ourselves over staying in credit with various accounts, it's galling to see 'our' Building Society going in the same direction as the greedy bankers who have managed so effectively to devalue our pensions and savings!

ricequeen4u

ManAtHome wrote: »

Dunno if I'm typical, but even though NW isn't my main current account I have substantial savings with them. Haven't bothered moving for the odd quarter percent - probably worked out level when comparing Flex usage in Europe v my (bog-standard) main account, but sounds like time to start reading/moving.

I suspect something like the new Halifax Clarity as a credit card and Caxton or FairFX pre-paid will be a reasonable substitute? I know there's been a few threads about these, but I didn't need to pay much attention until now... (gulp!)

I'm the same, got thousands in NW. Last year they stopped online downloads of Money files and now this. Time to leave I think.

Red_Ant

NoBob wrote: »

I've been with Nationwide for more than twenty years, too. In fact, I've never really banked with anyone else, apart from opening a Midland account many years ago, which was eventually closed through lack of use.

Got two Flexaccounts, a NW credit card, ISAs (cash and an e-ISA, opened just recently) with them.

Despite the non-existent or rubbish interest rates, I also stuck with Nationwide because I travel a lot, mostly outside Europe on extended trips, so the travel insurance is useless for me. Plus, I always get mine from STA Travel anyway. I'm travelling in Asia now.

I've put together a letter to send via the online banking message system, and included the Youtube link (youtube.com/watch?v=la0gB_FJ3gY) to the old TV advert about ATM charges as tips. Thanks to the person who posted the link here.

Did you also include a link to their "new customers only" advert to contrast with their policy of only offering their "100 days of house and contents insurance" to new policies only.

Red_Ant

To echo a lot of what has been said on here, I've been untangling myself from Nationwide for a while after their various cutbacks. Today I had a letter telling me I've been awarded free European Travel Insurance as I use Nationwide as my main account. I stopped using it as my main account over a year ago, and don't even consistently move the £750 per month through the account that is one of the conditions of maintaining this "free" insurance.

LondonPerson

No sign of my letter offering me the free travel insurances, they probably want me to come crawling over with my main account that has fare less money in it that I have in Nationwide - so thick as they are with their conditions, attitudes to their customers and assumptions that they make on their lifestyles and savings. They truly have crap marketing tools, business analysis and PR, that one is all too clear, not forgetting the very poor interest rates and the new charges to use the debit card abroad.

MY other main places that I have my investments regard me as a preferred / priority customer or whatever they call me and I didn't ask. I get offered places on their monthly or so finance events, tickets to St Paul's choir events etc. All you get with Nationwide is insults and naff customer services plus their poor products.

I was hoping that when I told the customer services person that I was regarded as a privileged customer by other financial houses she would whip something out, to me Nationwide seems to be the place to be if you haven't got much money so they can offer you a lot at high interest rates on money you borrow whilst they pay peanuts if you happen to have accounts with them. To me they seem to have the feeling of a state run bank and the charm that goes along with it.

RobertinHerts

I may have quite a bit in one Flexaccount but insufficient in the other. So I've often transferred monies between Flexaccounts so that both are positive by close of business.

However the leaflet, page 7, says: Balances will in future be based on cleared funds the previous working day to cover payments on current day. Why? Is that common practice elsewhere?

Robert