Nationwide's tips - a reminder

NoBob

Let's not forget what they said.

http://www.youtube.com/watch?v=la0gB_FJ3gY

I know it's been covered on this forum, but Nationwide's really %$£*&@ me off. Apart from opening a Midland Bank account years ago, which got closed through lack of use, I've been with them for around 25 years. I have different accounts with them, including Flexaccounts, e-savings, ISAs, including an e-ISA.

I'm on an extended trip abroad and now have to pay Nationwide's charges for making ATM withdrawals abroad. As soon as I go get back to the UK - some time in the next few months - I'm switching.

opinions4u

I'm on an extended trip abroad and ... As soon as I get back to the UK - some time in the next few months

And do you really think that the free ATM withdrawals offer was intended for this sort of trip? You're part of the reason why the deal has been scrapped.

le_loup

.... and, what other bank do you propose to use that will not charge you?

Jake'sGran

I have never withdrawn cash from an ATM machine in Spain or wherever even though, as far as I know they didn't use to charge for these. This subject was featured on Money Box some time ago with the conclusion being that Nationwide's credit card is the one to take with you (to certain countries).

I can no longer travel abroad but I used to think it was great being able to pay my hotel bill with my Nationwide card. One time I found that the hotel had not used the bank ROE but Nationwide sorted this out when I got home and refunded the extra charge. The hotel group was Sol/Melia and they used to always charge the correct rate but then changed. Got to keep your eyes open!

I'd stay with Nationwide if I was you.

System

Always make sure your billed in local currency then the company taking your card has no say about the exchange rate.

Nationwide used have a competitive product range for a High Street player.
Not anymore - their products (and service) are now mediocre at best.

Jake'sGran wrote: »

I have never withdrawn cash from an ATM machine in Spain or wherever even though, as far as I know they didn't use to charge for these. This subject was featured on Money Box some time ago with the conclusion being that Nationwide's credit card is the one to take with you (to certain countries).

I can no longer travel abroad but I used to think it was great being able to pay my hotel bill with my Nationwide card. One time I found that the hotel had not used the bank ROE but Nationwide sorted this out when I got home and refunded the extra charge. The hotel group was Sol/Melia and they used to always charge the correct rate but then changed. Got to keep your eyes open!

I'd stay with Nationwide if I was you.

labp04

Not sure how opinions gets the op is part of the reason for withdrawal of this service given that s/he has been with N/wide for 25 years and that organisation never at any time suggested any sort of limit on flexi-card useage. And the question (stance?) of loup can perhaps be answered by directing that poster to MetroBank.

If the op regularly spends a lot of time abroad and needs to access a current account eg for cash whilst abroad then the cost of visiting a branch of MetroBank from wherever s/he lives in the UK will quickly be saved by zero charges for withdrawing cash when abroad.

Good luck!

opinions4u

labp04 wrote: »

Not sure how opinions gets the op is part of the reason for withdrawal of this service given that s/he has been with N/wide for 25 years and that organisation never at any time suggested any sort of limit on flexi-card useage.

No they didn't limit the service, and if I'd been the OP I would have done exactly as they have.

But it's clear that the "free" overseas withdrawals service was intended as a member benefit for holiday travel, not for spending months at a time overseas.

While having something for nothing is always a good thing, it was inevitable that one way or the other Nationwide would have to restrict availability at some point.

And the question (stance?) of loup can perhaps be answered by directing that poster to MetroBank.

Indeed. If the OP is in London at any time soon they should wander in to a branch. Of course, it is inevitable that at some point in the future Metro will pull their subsidy too.

It's a question of when. Not if.

NoBob

There have been long periods when I haven't been travelling, just working and saving in the UK. There have been long periods when I've been abroad and using a local bank in the country in which I was living. Interest rates on the Flex accounts have been rubbish for a long time, but being able to withdraw money abroad without tipping them meant I stuck with them.

> But it's clear that the "free" overseas withdrawals service was intended as a member benefit for holiday travel, not for spending months at a time overseas. Really? Would appreciate it if you could point me to where it says that on Nationwide's website or in one of their ads (a YouTube link would be fine).

> not for spending months at a time overseas. Rubbish! Nationwide hadn't considered all those gap year students spending months overseas, travelling round the world? It wasn't thinking about brand loyalty, getting 'em while they're young...?

opinions4u

Would appreciate it if you could point me to where it says that on Nationwide's website or in one of their ads (a YouTube link would be fine).

Give over. The marketing concept when they went down this road would have been "free holiday money for members". A risk of the policy is that 'travellers' would make more use of it than those taking a two week break on the Costa Wotsit.

As the number of 'travellers' increased the value and customer loyalty driven by the product feature will have dropped.

As I clearly stated in my previous post, I would have done exactly as you did. I just wouldn't have been so ridiculously horrified when the party came to an end.

Nationwide hadn't considered all those gap year students spending months overseas, travelling round the world? It wasn't thinking about brand loyalty, getting 'em while they're young...?

While it's possible, it is at best a high risk niche market. They would be better moving in to proper student banking where they will hit a broader market base, rather than just a small percentage of students who take a travelling gap year.