MSE News: Nationwide to hike fee on flagship packaged bank account

roddydogs

Penelopa.Pitstop wrote: »

My issue is with losing useful benefits and getting extended one that do not apply. We're only a couple, don't have expensive phones we lose or break every couple of months and I already have roadside assistance with my both cars for free from manufacturers.

Extended Warranty was something I was hoping to claim under in future when buying different things. Now it will be gone.

I have separate travel insurance with Aviva, so I'm ok with losing this perk. Will have to review Aviva policy in detail to see if it's meets all requirement. I used it to complement Nationwide insurance.

However I have to find a way to withdraw money abroad without any charges. If I get card that allows it, I'm downgrading to free account.

I sent private message through online banking commenting on changes and how disappointing they are.

NW don't care, they are too busy paying the "Recommend a friend" £200, (see anther thread on MSE) to people who will be gone in three months when the qualifying period is up.

LittleMissDetermined

This could also explain why the warranty part has been removed;
https://www.fca.org.uk/publication/undertakings/undertaking-london-general-insurance-company-limited.pdf

Not great publicity for NW, and perhaps the increased terms priced this offer out of NW remit.

Penelopa.Pitstop

Kim_13 wrote: »

I can't see that the breakdown cover is used much more than the extended warranty, given the small print to claim on it. Sure I read that only vehicles with a full service history are covered. How many used cars out there don't have that I wonder?

Shame they couldn't have done a pick and mix option, inviting customers to pick say 2 of the existing elements for the fee (increased or not.) That way they could have cut back the offering without it being such a negative thing for some customers.

I used breakdown cover once for a 30 years old classic car and no one asked me about any documents or proof of service. Help arrived in 20 minutes and I was satisfied with the service I received. I had extended breakdown cover on this car with insurance but no on picked up the phone there. I don't have it any more so don't care for breakdown cover.

Yes, it's a shame that they don't allow customers to choose options. I don't need phone insurance, considering that latest one I bought was only £150 new.

colsten

I downgraded my FlexPlus to a FlexDirect today, as my 12 month FlexDirect resting period had just completed, and the FlexPlus really doesn't offer me much benefit.

[Deleted User]

Got rid of mine, still have the flex direct. One thing to watch out for. If you, like me have any medical conditions that mean you have to pay extra for the travel insurance, they will not refund you that money when you close the account so if travel insurance is something you value best to wait until the 12 mionth period is up and you have to pay another annual subscription.

[Deleted User]

colsten wrote: »

I downgraded my FlexPlus to a FlexDirect today, as my 12 month FlexDirect resting period had just completed, and the FlexPlus really doesn't offer me much benefit.

Resting period?

I'm guessing, does this mean 12 months after you've completed the years bonus you can get it again?

Aletank

How is everyone downgrading ? Do you have to go into a branch or can it be done over the phone ?

roddydogs

Phone or branch.

colsten

Deleted_User wrote: »

Resting period?

I'm guessing, does this mean 12 months after you've completed the years bonus you can get it again?

So far, yes, you can. I am on my third round now, i.e. have had 2 lots of 12 months in between 5% FlexDirects. There's some speculation over on the Savings board that they might stop this sometime soon. It's just speculation though for now.

Archi_Bald

I downgraded mine today over the phone. It's quite tedious as they insist on reading out the T&Cs. It took nearly an hour to get it done. It would have been easier just to close the FlexPlus and to open a new FlexDirect but I didn't want to lose the history as it's my 15+ years Loyalty account, and one of these days they might have another Loyalty offer that is of interest. As Kylie says: I should be so lucky, lucky, lucky....