Nationwide

harsh_but_fair

I have a nationwide credit card and if I buy something on say Monday it shows on Wednesday

This is not exactly acceptable to me so I also have a Barclaycard and if I buy something it shows pretty much immediately certainly within a few hours.

I would recommend you either get a Barclaycard or maybe a John Lewis partnership card both of which are pretty good at showing transactions in a decently short time

avoid Nationwide and First Direct if you want timely postsvto your account

[Deleted User]

zagfles said:

Poor_Leno said:

joeypesci said:

Does anyone else use Nationwide? 

Define 'use'
I have £1 sat in my Flex Direct account and its been that way since ... the 5% bonus rate ended ... then the regular saver ended ... then the flexclusive ISA ended ... I think all three within a short period for me.  Didn't have a reason to bother with the account anymore, but keeping it open in case Nationwide decides to offer any useful products in the future.  They'll no doubt be pleased to be taking mortgage payments off me soon though.

I'm still using my old Flex Direct as it pays 1% till the end of this month on £2500, matches the best "easy access" savings account according to MSE, except NS&I income bonds which aren't really "easy access" as they only allow transactions of a minimum of £500+

It's going into Premium Bonds at the end of the month though...as the rate is going down to 0.25%

I'm sticking with Nationwide for the time being but will defiantly no longer consider leaving £2500 plus. 
At least their cards always work unlike Dodo Bank and it's pointless teal debit cards.

joeypesci

harsh_but_fair said:

I have a nationwide credit card and if I buy something on say Monday it shows on Wednesday

This is not exactly acceptable to me so I also have a Barclaycard and if I buy something it shows pretty much immediately certainly within a few hours.

I would recommend you either get a Barclaycard or maybe a John Lewis partnership card both of which are pretty good at showing transactions in a decently short time

avoid Nationwide and First Direct if you want timely postsvto your account

Thanks. But what I want is if for that month I owe £200 and then before the due date pay £100, for it to update to show "Monthly statement is £200. £100 credit, statement now £100". Surely that can't be hard to do with online accounts and an app. I'd find it useful and I'm sure others would. Save having to work it out yourself, instead the app does it for you.

General_Grant

joeypesci said:

harsh_but_fair said:

I have a nationwide credit card and if I buy something on say Monday it shows on Wednesday

This is not exactly acceptable to me so I also have a Barclaycard and if I buy something it shows pretty much immediately certainly within a few hours.

I would recommend you either get a Barclaycard or maybe a John Lewis partnership card both of which are pretty good at showing transactions in a decently short time

avoid Nationwide and First Direct if you want timely postsvto your account

Thanks. But what I want is if for that month I owe £200 and then before the due date pay £100, for it to update to show "Monthly statement is £200. £100 credit, statement now £100". Surely that can't be hard to do with online accounts and an app. I'd find it useful and I'm sure others would. Save having to work it out yourself, instead the app does it for you.

If you pay it off in full every month, why are you bothering to drip feed amounts into the account before you need to?

Is it that you are so close to your maximum balance that you have to keep topping it up?

eskbanker

dahj said:
I'm sticking with Nationwide for the time being but will defiantly no longer consider leaving £2500 plus.

As defiance goes, it's not really that defiant to relieve them of their obligation to pay you so much interest....

kaMelo

joeypesci said:

harsh_but_fair said:

I have a nationwide credit card and if I buy something on say Monday it shows on Wednesday

This is not exactly acceptable to me so I also have a Barclaycard and if I buy something it shows pretty much immediately certainly within a few hours.

I would recommend you either get a Barclaycard or maybe a John Lewis partnership card both of which are pretty good at showing transactions in a decently short time

avoid Nationwide and First Direct if you want timely postsvto your account

Thanks. But what I want is if for that month I owe £200 and then before the due date pay £100, for it to update to show "Monthly statement is £200. £100 credit, statement now £100". Surely that can't be hard to do with online accounts and an app. I'd find it useful and I'm sure others would. Save having to work it out yourself, instead the app does it for you.

No credit card account operates like that.
The terms and conditions set out the time between producing a statement and the minimum payment due date. If they produce another statement after partial payments then the due date would change also to reflect the required time period between statement date and payment due date. That's why they only produce one statement a month.
Most credit card accounts however will give you a running total in their online banking, taking into account payments/refunds etc. but none that I know of are guaranteed to show everything in real time as not all payments require pre-authorisation, as such the credit card company cannot possibly know about the purchase until the retailer submits the details to them.

If you're paying off the whole balance every month why are you making part payments anyway? Just set up a DD to pay the whole balance automatically or wait until a couple of days before the due date and pay off the whole statement balance. Making interim partial payments serves no purpose whatsoever.

harsh_but_fair

I don't think Barclaycard or John Lewis card or any card that I know of will offer that function

The statements balance is a bit like a bill in other words regarded as a fixed amount you owe £x on that date and must be payable by the the date shown to avoid interest charges etc

If you then pay off £100 that statement balance does not change

I suppose it is up to you to keep track of how much you have paid off the amount owing

joeypesci

The next question is a curious one. I'm assuming the response will be "You should of kept a record of what you owed". We're not all perfect, we're also not all good with numbers and we don't all have support from people who can help with issues like this. So several days before the final bill was due, I asked on Nationwide's secure message service once logged into my account, about this issue. I Ignore the fact they didn't answer the main question, one part of the question was "Can you see and tell me how much left I owe for the statment due. It was over £900 but I know I've already paid most of that off."

They could see and told me I only owed £229 for the rest of that statement and that it was due on 20th. So I paid that all in full soon after, I can see it cleared on the 19th. Yet after the due date, I now see I've been hit with interest. I assume because whoever replied to the secure message got the figure wrong.

Who would be at fault there? Me for not keeping a record of what I owe? Or Nationwide for giving me the wrong figure of how much left I owed that month?

joeypesci

kaMelo said:

joeypesci said:

harsh_but_fair said:

I have a nationwide credit card and if I buy something on say Monday it shows on Wednesday

This is not exactly acceptable to me so I also have a Barclaycard and if I buy something it shows pretty much immediately certainly within a few hours.

I would recommend you either get a Barclaycard or maybe a John Lewis partnership card both of which are pretty good at showing transactions in a decently short time

avoid Nationwide and First Direct if you want timely postsvto your account

Thanks. But what I want is if for that month I owe £200 and then before the due date pay £100, for it to update to show "Monthly statement is £200. £100 credit, statement now £100". Surely that can't be hard to do with online accounts and an app. I'd find it useful and I'm sure others would. Save having to work it out yourself, instead the app does it for you.

No credit card account operates like that.
The terms and conditions set out the time between producing a statement and the minimum payment due date. If they produce another statement after partial payments then the due date would change also to reflect the required time period between statement date and payment due date. That's why they only produce one statement a month.
Most credit card accounts however will give you a running total in their online banking, taking into account payments/refunds etc. but none that I know of are guaranteed to show everything in real time as not all payments require pre-authorisation, as such the credit card company cannot possibly know about the purchase until the retailer submits the details to them.

If you're paying off the whole balance every month why are you making part payments anyway? Just set up a DD to pay the whole balance automatically or wait until a couple of days before the due date and pay off the whole statement balance. Making interim partial payments serves no purpose whatsoever.

But surely, as it's all digital, it would be possible to "update" the statement in real time and not having issue a new one? So the statement is £400 owed by 21st July. Your paper statement of course can't change but a digital one can. Ignore the fact this might be completly pointless, ignore the fact if you pay off in full just setup a DD ignore all that. I don't understand why that online and digital statement can't update in real time or daily as you pay it off.

Day 1 - You owe £400 by 21st  July

Day 3 - Thank you for the £200 payment.

Day 4 - Digitial statement updates - You owe £200 by 21st July.

Simple. Or is it an accounting practise that the statement has to stay fixed and they can't update it even though its digital because of the accounting process? Genuinely curious.

eskbanker

I think you're overcomplicating this - as mentioned earlier, if you pay off your account in full every month then the most obvious way to manage this is to make one full payment per statement cycle, and easiest of all is to set this up by direct debit so it takes care of itself.

You do have the option of making multiple payments totalling to this amount if you like, but that is more complicated than it needs to be and does rely on keeping track of what's been paid.  You should be able to do so via your current account online banking and work it out for yourself what's left to pay - I get your point that Nationwide should know that too but you really shouldn't need to rely on them telling you and so I think you'd struggle to pin liability on them if the wrong figure is stated verbally, although if you can clearly explain exactly what happened, supported by actual figures, then they may be prepared to waive the interest as a one-off or make a goodwill gesture.

Edit: re your subsequent comment about adjusting statements, it is a generally accepted principle that statements are issued monthly and not updated.  They're intended as a snapshot of the state of an account at a specific point in time, and even if it was accepted that they could provide some sort of later update(s) reflecting repayments, there would also be an argument that updated spending should also be added....