# Nationwide



## waddy (Apr 21, 2006)

It must be nice in these troubled times to be able to upset part of your customer base ie motor home users that visit Europe frequently, especially when most of the Banking fraternaty are so desperate to attract custom No more free transactions in europe ! i am sure i am not the only one considering changing banks is there any one out there who knows of another bank still offering free transactions in europe ? . And what is your opinion of nationwide now ? .


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## tonyt (May 25, 2005)

If you do a search of recent threads you will find this subject discussed in depth with lots of views and alternatives.


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## Bob45 (Jan 22, 2007)

I always thought it was too good to last.

I have just got a Caxton FX card. It allows you to put money on to the card by internet, phone or mobile and then draw out cash in euro land. The exchange rate they offer is competitive I think.

Bob


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## Zebedee (Oct 3, 2007)

Yep.

Got my Cash Card+ today, with a brochure telling me how they have _*improved *_my account!

I wouldn't mind too much if I had been freeloading, but I kept a few thousand in the Flexaccount to show goodwill, even though I didn't actively use it for anything other than ATMs abroad.

They have been making a nice little profit for several years from my deposits, and at precious little cost to themselves from the three or four foreign withdrawals per year that I have made. :roll:

By this evening they will be history!

Dave


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## 113016 (Jun 5, 2008)

I have a Nationwide account and will be closing it.
I was happy to keep a chunk in it, but the new criteria is you must pay in £750 per month and it must be your main current account.
If it is not then the free insurance has a get out clause.
I also had a FX card and I am very happy with it. Martin Lewis said it was the best. 

http://www.fairfx.com/travelcardl


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## havingfun (Oct 31, 2007)

*nation wide*

hi,

havent got time to sort now,but after a quick look,before i shut the computor down,we are on way to the global,i t looks as good a deal as nationwide was,you have to put in minimum £500 to start,but we spend that no bother. will look into it when we come back,

thanks mags,

p.s. talking about the fairx card


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## 113016 (Jun 5, 2008)

*Re: nation wide*



havingfun said:


> hi,
> 
> havent got time to sort now,but after a quick look,before i shut the computor down,we are on way to the global,i t looks as good a deal as nationwide was,you have to put in minimum £500 to start,but we spend that no bother. will look into it when we come back,
> 
> ...


You also get a the £9.95 opening fee waived and you get a £5 bonus if you open with £500 and do it through Martin Lewis.


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## larrywatters (Aug 21, 2007)

yep we will close our account, when we get home from france.
do you think they will care, i think not :twisted:


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## patnles (Oct 26, 2006)

I think the Post Office credit card (Master Card) does not charge for foreign purchases. I don't know if anyone has already mentioned this.

Pat


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## pete4x4 (Dec 20, 2006)

Hasn't anybody picked up on that it is only the flex account that is changing the nationwide credit card is still transaction fee free.


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## blacksville (Dec 2, 2007)

YES WE A LOT OF INVESTMENTS WITH NATIONWIDE.WE ARE OF ABROAD.BUT AS SOON AS WE RETURN WE WILL BE CLOSING OUR FLEXI ACCOUNT PLUS MOVING OUR ISA,S AS WELL.POST OFFICE MASTER CARD IS STILL GOOD FOR PURCHASING ABROAD NO CHARGE. BLACKIE


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## TR5 (Jun 6, 2007)

pete4x4 said:


> Hasn't anybody picked up on that it is only the flex account that is changing the nationwide credit card is still transaction fee free.


This is only true for purchases, normally within the eurozone (with exceptions)

However, the debit card is/was mainly used for cash withdrawals from ATM's abroad, with no fee, and a good exchange rate.
The credit card incurs a charge of 2.5% for a cash advance, with a minimum fee of £3.00 - so the cost is 2.5% for withdrawals of £120 and above, or £3.00 if withdrawing less than £120.

This also applies in the UK, although sterling withdrawals will still be free with the debit card - at the moment!


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## pete4x4 (Dec 20, 2006)

TR5 said:


> pete4x4 said:
> 
> 
> > Hasn't anybody picked up on that it is only the flex account that is changing the nationwide credit card is still transaction fee free.
> ...


I realise all that but people are taking out credit cards with PO for example and they are the same as nationwide for cash, just asking why bother changing?


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## tonyt (May 25, 2005)

I think the point is:

To withdraw cash from a Nationwide Flex Debit card one had to have funds in that account to cover the amount being withdrawn. I know - that's pretty obvious.

So, if you move those funds from the NW account to a credit card (put the credit card into credit) it should be possible to withdraw cash without it being a cash advance and therefore should not pick up any interest charges.

Cards such as Santander Zero do not charge a commission for drawing foreign currency.

So, a Santander Zero (for example) in credit, should provide the service we have previously got from NW.

No doubt some will again see this as cherry picking - I agree, it is.

If I've got my facts wrong then please tell me where.


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## sylke (Sep 10, 2007)

I see that nobody has yet mentioned SAGA Platinum credit card,
are you all too young, if not it may be worth researching because from what I can gather there is no interest charge for withdrawing cash abroad.


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## Zebedee (Oct 3, 2007)

Nationwide . . . history! :roll: 

Dave


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## Mrplodd (Mar 4, 2008)

Another Nationwide account holder here who has just got back from a month away to find the Nationwide letter telling me also how much they have "IMPROVED" my account !! Do you think they employ the same spin doctor that Tony Blair used ???
Trouble is they will STILL be the cheapest method of drawing cash abroad, even taking into account the charges.

Another little gem hidden away in the very small print is the fact that if your card becomes damaged they will charge you a tenner for a new one, how many of you spotted that ???

I am aware of the "pre-loaded" cards BUT and its a big but, if you lose the card YOU LOSE ALL OF THE CREDIT ON IT !!!

Remember.... A bank is an institution that will lend you and umbrella when the sun shines, take it away at the first sign of rain, and neglect to tell you it wasnt their brolly to lend you in the first place anyway !!

As Martin Lewis keeps saying " Banks are NOT your friend" They are only interested in what they can screw (sorry charge) you for, and they are thinking up ever more devious was of doing it. Those of us who never go overdrawn and pay off the cards in full each month dont make money for them so basically they dont want us !

My instant reaction was " well shove it up yer **** Nationwaide" but I will just bide my time before actually closing my account in cas of "developments"


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## Zebedee (Oct 3, 2007)

Mrplodd said:


> My instant reaction was " well shove it up yer **** Nationwaide" but I will just bide my time before actually closing my account in case of "developments"


Mine too Plodd, especially when one of their Customer Service persons told me only about three weeks ago that it would still be possible to get Euros from an ATM within the EU for no charge. 8O

If a miracle happens I shall just re-open the account. Whether I shall replace the almost three thousand quid I just withdrew is another matter! 8O

Dave


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## teemyob (Nov 22, 2005)

Bob45 said:


> I always thought it was too good to last.
> 
> I have just got a Caxton FX card. It allows you to put money on to the card by internet, phone or mobile and then draw out cash in euro land. The exchange rate they offer is competitive I think.
> 
> Bob


It has been around and lasted a long time.

But if like Nationwide say, people are not using it as a main account. They cannot make any money.

TM


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## JockandRita (Jun 1, 2005)

Mrplodd said:


> My instant reaction was " well shove it up yer **** Nationwaide" but I will just bide my time before actually closing my account in cas of "developments"


Aye, me too.



Zebedee said:


> Whether I shall replace the almost three thousand quid I just withdrew is another matter! Shocked


 8O 8O 8O

We had MEGA amounts in the Flexaccount, and it was upon their advice that we transferred it to an E Savings account...............oh yes, I remember now...............the one that stopped paying a decent interest after 12 months. :evil:

They can't have their cake, and eat it too.



Zebedee said:


> especially when one of their Customer Service persons told me only about three weeks ago that it would still be possible to get Euros from an ATM within the EU for no charge. Shocked


You'll never guess what Dave? I've just seen a pig fly past our MH window. :lol:



Mrplodd said:


> Another little gem hidden away in the very small print is the fact that if your card becomes damaged they will charge you a tenner for a new one, how many of you spotted that ???


Oh yes, I was onto that one straight away. Fly Barstewards, eh?

Regards,

Jock.


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## barryd (May 9, 2008)

On first glance the Santander Zero account does look the same as Old NW flex account in that there are no charges for use abroad.

http://www.santander.co.uk/csgs/Sat..._GB&pagename=Abbeycom/Page/WC_ACOM_TemplateT2

The only other thing in NW favour is the exchange rates were always very good. Will Santander be as good. I mean if they only give you for example a rate of 1.10 and NW give 1.20 you would be better off keeping the NW and paying the charge.

Has anyone got the Santander Zero account and used the debit card abroad? If so what are the exchange rates like and is it really free?

BD


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## waddy (Apr 21, 2006)

*Do they Care !!!!!!!!*

Yes they do make money from debit cards they lend money to other banking institutions from cash in hand let alone how much they make from invested monies . The banks in general are licenced bandits , but i would have expected Nationwide to be more aware of how much of a crap storm they have stirred up amongst thier loyal , ( up till now that is) customer base . They obviously do not value the contribution me make . I left Natwest for the same reasons and it looks like i will be on the move again soon . I might even look at foriegn banks as ours seem to have a bit of an attitude problem .


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## teemyob (Nov 22, 2005)

*Loyal*

I can understands peoples gripes about Nationwide. I have been with them for 30 years, know the Manager well.

But, My simple analogy of Nationwide's business situation.....

You are not going to make decent profits from a Busy Real ale Pub if 2/3rds of your regulars are bringing in and drinking tins of Carling from the Shop next door.

TM


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## Zebedee (Oct 3, 2007)

Not sure their own statement backs up your theory TM.

See >> here <<

As I said in that post . . . "_If only *10% of a minority* use the card overseas, why are they being so mean and penny-pinching by stopping the service_?" 8O

They said it - not me.

Dave :wink:


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## barryd (May 9, 2008)

Zebedee said:


> Not sure their own statement backs up your theory TM.
> 
> See >> here <<
> 
> ...


I can only assume its because its costing them money or they are not making enough out of us to make it worthwhile. If thats the case you cant blame them. I wouldn't offer my customers a service if it wasn't profitable. At the end of the day the banks are nobodies friend. They dont care about you or I one jot so they will do whats best for them.


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## Stanner (Aug 17, 2006)

barryd said:


> On first glance the Santander Zero account does look the same as Old NW flex account in that there are no charges for use abroad.
> 
> http://www.santander.co.uk/csgs/Sat..._GB&pagename=Abbeycom/Page/WC_ACOM_TemplateT2
> 
> ...


BUT - from what I've read to get a Zero Card you MUST have a Santander Mortgage or Investment of some kind - without either you can only have the ordinary Santander Account which doesn't give you the "Zero" benefits.

I would be grateful to find out that ISN'T the case.


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## barryd (May 9, 2008)

Stanner said:


> barryd said:
> 
> 
> > On first glance the Santander Zero account does look the same as Old NW flex account in that there are no charges for use abroad.
> ...


Hmm. I think I will give them a call. Mrs D is a Santander share holder I think. Maybe she can get one!


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## Zebedee (Oct 3, 2007)

barryd said:


> I can only assume its because its costing them money or they are not making enough out of us to make it worthwhile. If thats the case you cant blame them. I wouldn't offer my customers a service if it wasn't profitable. At the end of the day the banks are nobodies friend. They dont care about you or I one jot so they will do whats best for them.


Fair comment Barry, but why didn't they take the businesslike (_crafty_?) option and say the service would be continued only if a minimum balance of more than (say) £500 was kept in the account at all times.

Drop below £500 at any time and a charge would be levied on all ATM transactions - backdated to cover the previous month if they wanted to be really vicious! 8)

That would mean most folk would ensure they had at least £1,000 in the account before going abroad, and any cash in the account would be used by the bank on a day to day basis to make their profit via loans etc..

Or is that too simple? 8O

Or maybe their computer programmers are not up to much and can't code in the "flags". :roll:

Dave


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## barryd (May 9, 2008)

Zebedee said:


> barryd said:
> 
> 
> > I can only assume its because its costing them money or they are not making enough out of us to make it worthwhile. If thats the case you cant blame them. I wouldn't offer my customers a service if it wasn't profitable. At the end of the day the banks are nobodies friend. They dont care about you or I one jot so they will do whats best for them.
> ...


I agree that would be a better idea. My Lloyds current account is a bit like that. I get free travel insurance for both of us all year long plus other benefits but if I drop below £2K I pay £12 per month for the privilage.

I would have been happy to bung £500 in and leave it there.


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## tonyt (May 25, 2005)

Stanner said:


> barryd said:
> 
> 
> > On first glance the Santander Zero account does look the same as Old NW flex account in that there are no charges for use abroad.
> ...


I've held a couple of Abbey/Santander accounts (not credit card) for a number of years.
Applied for my Zero Credit Card on-line.
Card and access codes arrived within 10 days.

I plan to shift my NW debit balance (earning zilch interest) from NW to my Zero CC and am hoping that when I withdraw from an atm abroad I will not only not get charged for a cash advance, which it's not, I will hopefully also get a favourable exchange rate.

Looks like another Cite Europe trip needed - and another garden shed to put the cases of wine in.


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## erneboy (Feb 8, 2007)

Don't you guys think the Caxton FX Card is a good alternative? Alan.


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## barryd (May 9, 2008)

I thought the Santander Zero was a debit card not a credit card. I dont want a credit card. Horrible things!


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## tonyt (May 25, 2005)

barryd said:


> I thought the Santander Zero was a debit card not a credit card. I dont want a credit card. Horrible things!


There's a Zero Current Account (Debit Card) and there's a Zero Credit Card.


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## peejay (May 10, 2005)

I think credit cards are fine as long as you set up a direct debit to settle the full amount each month to avoid the interest.

I've gone for the Halifax Clarity card, no fees and it has a slightly better rate than the Santander card at 12.9% apr and you get £5 cashback if you spend >£300 per month if you have a current acct with them.

But - I'm still not sure if were going to get charged interest between when we withdraw cash and when it's paid off each month, will pre loading with some cash really prevent interest being charged??

http://www.halifax.co.uk/creditcards/clarity.asp

Pete


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## tonyt (May 25, 2005)

peejay said:


> ..........
> 
> But - I'm still not sure if were going to get charged interest between when we withdraw cash and when it's paid off each month, will pre loading with some cash really prevent interest being charged??
> 
> Pete


That's exactly what I'm hoping will happen - they surely can't charge a cash advance fee when you're simply withdrawing your own cash? (but I won't be surprised if there's some sneaky little clause tucked away somewhere).

I was hoping that someone else was ahead of me on this one and had proved or disproved the theory.


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## peejay (May 10, 2005)

Dunno, but i'm thinking a cash advance is a cash advance in their world regardless of how much is in the pot and they will probably start slapping on interest straight away.

If that is the case then damage limitation would probably be to draw cash as close to your monthly settlement date as possible.

We need someone to go abroad and test this, i'm not away for several months yet.  

Pete


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## trevd01 (Oct 26, 2007)

Lots of good advice here:

http://www.moneysavingexpert.com/travel/cheap-travel-money

Credit cards, prepaid best and worst. No debit cards come out well at the moment.

We use a Santander Zero *Credit* Card, which also is a pretty cheap way to draw cash abroad, £2 for £100, cheaper than most debit cards. For the limited cash we use that's fine - everything else goes on the card.


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## tonyt (May 25, 2005)

I was a Nationwide fan both in Europe and beyond but like many others am trying some alternatives.

As an experiment I recently made a couple of atm cash withdrawals here in Cape Town.

R1000 on my NW card gave me a rate of R11.085 to the GBP but when the commiission fee and the withdrawal fee were added, the rate came down to R10.751

I then took the same amount from my (loaded) Santander Zero Credit Card and got a rate of R10.985. No commission and no cash withdrawal fee (the account was in credit). 

Not a lot in it - but every little helps!!


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