The 5 days delay scandel?

realaledrinker

As the Nationwide CC postal address is Southend (RBS? Lloyds?), I suspect they have outsourced their cedit card admin processing, which may explain the delays.

YorkshireBoy

realaledrinker wrote:

As the Nationwide CC postal address is Southend (RBS? Lloyds?), I suspect they have outsourced their cedit card admin processing, which may explain the delays.

I'm not 100% sure, but I think I read somewhere that the only tie up was a shared building with RBS - and that their systems are not linked in any way.

YorkshireBoy

jamalfatty wrote:

Well hopefully when Faster Payments finally gets introduced, all of this will be a thing of the past

And then all we've got to complain about is the, say, 50p a time cost of using the facility...or do we think they're going to give us (the near equivalent of) free CHAPS transfers?

gt94sss2

YorkshireBoy wrote:

And then all we've got to complain about is the, say, 50p a time cost of using the facility...or do we think they're going to give us (the near equivalent of) free CHAPS transfers?

Yes, I suspect money transfers will still be free - after all the new system will be designed for these volumes while the CHAPS system was only designed for a relatively small number of payments/day (one of the reasons its so expensive)

However, I do think this will be yet another incentive for banks to introduce monthly fee accounts unless you maintain a minimum balance etc..

Regards
Sunil

King_Of_Fools

As Nationwide is a building society they cannot physically issue credit cards. Nationwide Credit Cards is essentially a separate company from Nationwide Building Society and is run from the RBS card processing site in Southend. Therefore, as the transfer is in effect an inter-bank transfer it is not immediate.

Furthermore, as Nationwide is a building society and not a clearing bank that tends to add an extra day or two onto the time it takes to do inter-bank transfers.

Having said all this, I am fairly certain my last Nationwide credit card payment arrived only one day after it left my FlexAccount.

Voyager2002

King_Of_Fools wrote:

As Nationwide is a building society they cannot physically issue credit cards. Nationwide Credit Cards is essentially a separate company from Nationwide Building Society and is run from the RBS card processing site in Southend. Therefore, as the transfer is in effect an inter-bank transfer it is not immediate.

Furthermore, as Nationwide is a building society and not a clearing bank that tends to add an extra day or two onto the time it takes to do inter-bank transfers.

Having said all this, I am fairly certain my last Nationwide credit card payment arrived only one day after it left my FlexAccount.

This may also explain why you cannot send secure messages on-line about yuor credit card account, something that has always annoyed me.