Nationwide kills cheap overseas spending

luci

Nationwide are to start charging 2% on withdrawals and spending on its FlexAccount debit card from November

https://forums.moneysavingexpert.com/discussion/2629563

Tarry

That's a shame Really Really disappointed about that one That was one of the good points about the Nationwide card. Oh well, at least I'm going abroad in October as opposed to November so it should be still free than.

Chomeur

OMG. I must have saved £100s over the years through this. I guess the best thing now is to get a Halifax Clarity or Santander Zero credit card and put them into credit before going abroad. Then use them like debit cards when you need cash.

darich

Chomeur wrote: »

OMG. I must have saved £100s over the years through this. I guess the best thing now is to get a Halifax Clarity or Santander Zero credit card and put them into credit before going abroad. Then use them like debit cards when you need cash.

I don't know the terms and conditions of those cards but any credit card I've ever had charges a small percentage for withdrawing cash. That fee is charged whether the card is in credit or not - the balance of the card is not a condition of the charge.
Won't you still be charged a 2% fee (or thereabouts) for withdrawing cash on the credit card?

poet123

What a shame, I think this will ultimately cost them more than it saves them.

ferf1223

Shame..we've switched our main bank account to a Santander Zero account since we have a mortgage with them we qualified for it...it has been nice to have 2 options for a short while ..even though the Nationwide card has been charging 1% for withdrawals in the US for awhile, it was still reasonable...but 2% will probably put us off I think).

Chester85

They say its to stop people just using it for travel and therefore NW not gaining much from it

Really, customers who've been with Nationwide for a long long time before all this should have been rewarded instead of punishing us for a few that abuse the system

I don't see why those who have it as the main account, high usage, saving and salary incomings are being punished here, silly move

Off to Santander for free withdrawals then (at Santander cash points at least)

Tarry

Chester85 wrote: »

They say its to stop people just using it for travel and therefore NW not gaining much from it

Really, customers who've been with Nationwide for a long long time before all this should have been rewarded instead of punishing us for a few that abuse the system

I don't see why those who have it as the main account, high usage, saving and salary incomings are being punished here, silly move

Off to Santander for free withdrawals then (at Santander cash points at least)

I agree with you there, people who use it as a main account should get some benefits especially when they have been with them for years and years (like me)

photome

darich wrote: »

I don't know the terms and conditions of those cards but any credit card I've ever had charges a small percentage for withdrawing cash. That fee is charged whether the card is in credit or not - the balance of the card is not a condition of the charge.
Won't you still be charged a 2% fee (or thereabouts) for withdrawing cash on the credit card?

No because the Halifax clarity is fee free withdrawals, you are just charged interset from day 1 at 12.9% equates to £1 per £100 a month

photome

Chomeur wrote: »

OMG. I must have saved £100s over the years through this. I guess the best thing now is to get a Halifax Clarity or Santander Zero credit card and put them into credit before going abroad. Then use them like debit cards when you need cash.

Can you do that? It seems like a to easy way to avoid interest charges

leew

Cheesed off with this news as i said in another thread :mad:

Best alternative then guys is the Clarity card i take it? i'm a bit thick understanding that one though coming from the Nationwide card!