Nationwide Charging for Lost/Stole/Damages Cards...

karatedragon

From November Nationwide will charge £10 for lost/stolen/damaged cards on FlexAccounts if you have more than two incidents of this in any 12 month period.

I wonder how long before it is zero incidents.

They don't seem very competetive now since the introduction of overseas charges from November, the introduction of charges for counter cheques and their overdraft rate is 18.9% Some places give you an interest free part.

I wonder how long it will be before the their Credit Card goes the same way.

preable

Yup it wont be to long before its 0 incidencts

karatedragon

I actually suffer with ID fraud paranoia and I actually deliberately report my card stolen a few times a year to generate a new number.

Hope my BS won't introduce charges like that.

opinions4u

I've not read the detail linked to the introduction of this charge, but to me it doesn't seem unreasonable to me.

Card holders have a duty to themselves to look after their card and ensure they don't put it in the washing machine, bend it or lose it.

I'm not sure I would include stolen cards in the charge though. That doesn't seem to be fair.

I'd be very surprised if they reduced the number from "more than two". That would be a competitive disaster (unlike the foreign transaction changes which merely bring them in to line with other providers).

bobblebob

I'm not sure I would include stolen cards in the charge though. That doesn't seem to be fair.

If you dont, people will just claim its stolen when they have damaged it themselves

karatedragon

So how is this "saving" with regards to charging for replacement cards going to be passed back to mmbers/customers?

Let's face it the FlexAccount isn't much to write home about.

bobblebob

I think if you need more than 2 cards a year then you're doing something wrong.

Sceptic001

karatedragon wrote: »

I actually suffer with ID fraud paranoia and I actually deliberately report my card stolen a few times a year to generate a new number.

Hope my BS won't introduce charges like that.

Presumably people like this have prompted Nationwide to take this decision. :mad:

thatsean

You'd do well to lose more than two cards a year - if it means that banks/BSs can improve product value for customers then I'm happy with "idiot taxes" such as this.