MSE News discussion. Nationwide kills cheap overseas spending

davidgmmafan

Hmm if you use it a lot it might be worth a shot.

Fortyfoot

KCS1503 wrote: »

Just to expand on the post by RobertinHerts post from yesterday. If you follow the link to the article about the email addresses for Graham Beale and how he was forced to change his email address due to the amount of spam received. Maybe that category now includes cusomers / society members emailing to complain.

The comments which people have posted on the site are -

Mike says:
September 15, 2010 at 1:40 am

He has now backed down and is willing, once again, to receive e-mails direct from Nationwide members.
Here’s the new address for Graham Beale: [EMAIL="gjbeale2@nationwide.co.uk"]gjbeale2@nationwide.co.uk[/EMAIL]

I emailed him and here is the reply which came rather quickly -

"Thank you for your email, addressed to Graham Beale, our Chief
Executive, we can confirm the matter is now being investigated.

We are sorry to learn of your concerns, and will ensure you receive a
response very shortly. In order that we may arrange this, would you
please be so kind as to telephone Damian O'Reilly on 01604 853326 to provide further information.

If we do not hear from you within 5 working days, we will be unable to
proceed.

Karon Winkler

Business Consultant"

Fortyfoot

cjt105

http://www.bbc.co.uk/news/business-11344048

roddydogs

cjt105 wrote: »

http://www.bbc.co.uk/news/business-11344048

Isnt that a bit late? this was announced weeks ago. "A couple of months time?" 1 Nov, actually. And why would anyone close their a/c, when you only need to keep £1 in?

Gamegal

paparossco wrote: »

I know it is a fiver a month but perhaps the Sainsbury Gold Credit Card might interest some for use abroad:

"Annual family worldwide travel insurance
We'll give you annual worldwide travel insurance for you and your family. That's 2 adults up to the age of 65, and up to 6 children under 16 (or 23 if they're full time students). We'll even cover you for winter sports^.
No fees on foreign currency
There's no fees on foreign currency when you buy it with your Sainsbury’s Gold Credit card so you can top up your wallet wherever you are.
No fees on foreign exchange or cash withdrawals abroad
Need some extra sun cream? If you use your Sainsbury’s Gold Credit Card to pay for goods abroad you’ll pay no fees. And, just like at home, you can also use your card for fee free cash withdrawals.
Earn Nectar points abroad
And to make your card even more rewarding, you can collect Nectar points worldwide – 1 point for every £5 you spend anywhere in the world.
Enhanced fraud protection
For your peace of mind we'll also give you Enhanced Fraud Protection. If you inform us that you are travelling abroad we can reduce the risk of your card being declined.
Low rate
Even if you’re buying in Malaga as opposed to Manchester, you’ll still enjoy the low rate of only 9.94% p.a. variable on your purchases.

All this for a monthly fee of £5. Minimum credit limit £1,500. Minimum monthly repayment of 2.25% of balance or £5, whichever is more, plus any amount over the credit limit."

Apologies if someone else has posted this and I missed it.

Yes, Marksfish posted about this recently.
If you look here it says ' It also won’t charge interest on the amount withdrawn, providing you’ve paid off the balance in full before the end of the month. (Just make sure you do this, otherwise you’ll be hit with an interest rate of 24.93%. Ouch!)

Marksfish

I did email them to ask if there was definitely no charge of any sort on the credit card. I finally got a reply yesterday, after a week, informing me that any enquiries about the card should be dealt with on their card number which begins 0871. I won't be ringing that!!

Fortyfoot

Marksfish wrote: »

I did email them to ask if there was definitely no charge of any sort on the credit card. I finally got a reply yesterday, after a week, informing me that any enquiries about the card should be dealt with on their card number which begins 0871. I won't be ringing that!!

Try 0800 0321365

Fortyfoot

Gamegal

Marksfish wrote: »

I did email them to ask if there was definitely no charge of any sort on the credit card. I finally got a reply yesterday, after a week, informing me that any enquiries about the card should be dealt with on their card number which begins 0871. I won't be ringing that!!

Re the insurance it's only up to 24 days each trip (17 for winter sports) unlike most which are up to 31 generally, see http://www.sainsburysbank.co.uk/library/default/pdf/goldcard_travelin_keyfacts.pdf

choc_mouse

Just thought I'd add to this thread. Since hearing the news about Nationwide's changes I have done/plan to do the following:

1) Close my low rate e-savings accounts which have no money in them anyway.
2) Close my regular savings account
3) Switch all my direct debits to another bank
4) Switch all my standing orders to another bank
5) Try to open a Santander current account (words of a desperate person)
6) Opened four Citibank accounts due to Santander not quite working out. Possibly a fifth account coming soon.
7) Get a Halifax Reward Clarity credit card
8) Switch salary payment to another bank
9) Wait for ISA rates silly season to transfer out massive cash ISA
10) Leave Flexaccount more or less dormant, perhaps transferring some funds in when my Citibank accounts do not serve my travel purposes

Nationwide will look back in their history and see this as a lesson on "How to lose loyal customers fast and lose unloyal customers even faster."

RobertinHerts

I don't feel "The terms of the Nationwide Flexaccount are now being changed to reward loyal customers..." accurately reflects the true situation. Remind me what else is there besides the 'free travel insurance', which is actually useless to many?

Robert