Grrr.. Nationwide!

nh

I have a Nationwide Flexaccount which I use when i go on holiday, I just put my spending money in there before I go and draw cash out of machines as it is commission free.

When I opened the account last year I applied for an overdraft and they gave me a £1,000 one, but now they have taken it off me! They say I haven't used it enough!

I think this is a disgrace from a building society, which is supposed to operate for the benefit of its members (we have our mortgage there too)

I rang to ask what it was I could have done to keep it live, and they said because I hadn't used it enough they would be withdrawing it.

Obviously it is nice to have the agreed overdraft just in case the account dips into the red, you don't want to get charged £25 do you?

So I asked if they were taking it off me cos they hadn't made enough money out of me but she just got shirty and said they were taking it off me cos I hadn't used it.

But I have an account at Natwest with a £1500 overdraft and I never use that either but they haven't withdrawn it.

Am I wrong in thinking this is slightly unfair of Nationwide? It is not as if it costs them money to give me the overdraft facility.

And another thing... their customer services is an 0870 number! For the benefit of the members...? My a*se!

newfoundglory

The overdraft at Nationwide is based on how much you pay in per month, and account activity. You don't actually have to pay much in to get a £1,000 limit providing you have had the account more than about a year - but you have to have actually used the account!! The amount they will lend you is recalculated every month just after the statement date (it usually goes in one direction - up), and you can view this overdraft "reserved limit" on Nationwide internet banking site under overdraft. If you had payed regular amounts in, you would have probably have found the reserved limit would easily hit a good £2,500 - but if you stop using the account, after a few months the limit will begin to make its way gradually back down to zero.

Its actually called responsible lending, which many of the banks out there don't seem to be able to engage in despite claiming they are "responsible lenders"!

And the customer services number is 0845 according to nationwide.co.uk... or you could always just ring the 0800 number which was listed on the very same web page!

:rotfl:

pin

People tend to forget overdrafts are always "on demand". This means a bank / building society can do what it pleases with overdraft facilities.

MarkyMarkD

I was going to say that was unreasonable, as I've had an authorised overdraft from A&L for years which I only occasionally use - but then, I DO use the account all the time.

You can't expect a £1000 overdraft limit to be maintained for you if you scarcely use the account! Right decision from Nationwide.

Turning_into_scrooge

nh wrote:

And another thing... their customer services is an 0870 number! For the benefit of the members...? My a*se!

I'm sorry i cannnot comment on your overdraft facility as i dont have one even though i do bank with Nationwide. AS far as i know overdrafs are i think reviewed on a 12 monthly period, maybe they feel as you don't use it you don't need it. Computers seem to do the work of humans in banking these days, no compassion just impersonal business like. :rolleyes: Computers are not human they don't allow for crisis happening As far as the 0870 number goes i always phone my branch direct on their personal number which can be found on their web page if this is any use to you I do hope this made sense :eek:

Joe_Bloggs

I have a Nationwide flex account and esaver, Invest direct (£10 max ). I requested an overdraft a year ago. I have never used it and the allocation has crept up to £1800 @ 7.7%. It seems unfair to pull it without notice.
Such a facility is a luxury but when you can get charged around £25 for being overdrawn it is a necessity for customers of financial institutions to have a buffer between extortionate charges and paying a fair rate of interest.
J_B.

davidcampbell

nh wrote:

Am I wrong in thinking this is slightly unfair of Nationwide? It is not as if it costs them money to give me the overdraft facility.

QUOTE]



of course it does. unless you know of a source that gives out a thousand pounds for nothing?


if you arent using the account regularly then you arent proving you can support a £1000 overdraft

would you give £1000 to someone who you didnt know if they could afford to pay it back?



DC

Woby_Tide

you can almost see the alternative topic in this one "I have a bank account with X that I only use whilst on holiday so I don't tend to pay much attention to it. When I last checked I noticed somehow someone had taken money up to my overdraft limit on the account and bank X didn't notice the unusual activity and stop it."

knight-on-the-town

Um tend to agree with what other have said ... but the point about the premium rate telephone number is interesting

I'v just checked and note that if you want to telephone Nationwide to open a new a new account its a free 0800 number....

.... which of course would be of use to...

you guessed it .....

BRAND NEW CUSTOMERS ONLY !!!!

Wonder what the Advertising Standards Autority would make of it

Woby_Tide

0845 isn't premium rate though is it, I thought that was local call? plus as someone else said just use the 0800 number think the menu is identical

one-non-blonde

newfoundglory wrote:

The amount they will lend you is recalculated every month just after the statement date (it usually goes in one direction - up), and you can view this overdraft "reserved limit" on Nationwide internet banking site under overdraft.

I didn't know this, thanks! Just had a sneaky peek to check and sure enough they're offering me a bit more. The figure is roughly equal to the amount of money that goes through my account every month.


I have an overdraft with Nationwide which I use up to the limit every month and they hardly seem to charge me anything for it. I've had my flex account for 5 years and I've always been very happy with them - the online banking facilities are fab and customer services have been great whenever I've had to call them.