Nationwide Credit/Debit Cards [Archive] - Orlando Villas - Florida Discussion Forums and Guide

steph_goodrum

27-02-2009, 12:05

it's not 0.16 Stephen, it will be 1% because currently none of the charge is passed on. After having had such a large tv campaign with Mark Benson last year explaining the "tip" and getting new customers it does seem a bit deceptive to then introduce the charge almost immediately if you've only opened the account because of it.

chris c

27-02-2009, 13:04

<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
Disappointing as I don't recall them letting their customers know about this change.

I'm off to the Post Office this morning.:D
[/quote]

Does the Post Office give as good an exchange rate as Nationwide though?

dawn burley

27-02-2009, 14:09

<blockquote id="quote" class="ffs">quote:Originally posted by chris c
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
Disappointing as I don't recall them letting their customers know about this change.

I'm off to the Post Office this morning.:D
[/quote]

Does the Post Office give as good an exchange rate as Nationwide though?
[/quote]

Yes it does[msnsmile]. I have been using it for a year and the exchange rates have been the same.

Dawn

Robert5988

27-02-2009, 15:09

The way the Post Office is being treated by our Political masters, I can't see this advantage remaining for too long.

Hope I am wrong!

Likewise I am really dissapointed by Nationwide - not normally their 'style'.

wrpac00

27-02-2009, 21:49

<blockquote id="quote" class="ffs">quote:[i]still a lot less than the 2.9% most other cards charge.

[/quote]

Some but not most in my experience.

SDJ

27-02-2009, 21:49

Another unhappy bunnie afterr opening a Nationwide account last year[gun]

Sandra

SeanT

27-02-2009, 22:40

<blockquote id="quote" class="ffs">quote:Originally posted by dawn burley
<blockquote id="quote" class="ffs">quote:Originally posted by chris c
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
Disappointing as I don't recall them letting their customers know about this change.

I'm off to the Post Office this morning.:D
[/quote]

Does the Post Office give as good an exchange rate as Nationwide though?
[/quote]

Yes it does[msnsmile]. I have been using it for a year and the exchange rates have been the same.

Dawn
[/quote]

I've been monitoring the the Post Office, M & S and The Cheque Centre for the last 6 months and the Cheque Centre has always given the best rate for the dollar [clap]

Katys Grandad

27-02-2009, 23:00

<blockquote id="quote" class="ffs">quote:Originally posted by SeanT
<blockquote id="quote" class="ffs">quote:Originally posted by dawn burley
<blockquote id="quote" class="ffs">quote:Originally posted by chris c
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
Disappointing as I don't recall them letting their customers know about this change.

I'm off to the Post Office this morning.:D
[/quote]

Does the Post Office give as good an exchange rate as Nationwide though?
[/quote]

Yes it does[msnsmile]. I have been using it for a year and the exchange rates have been the same.

Dawn
[/quote]

I've been monitoring the the Post Office, M & S and The Cheque Centre for the last 6 months and the Cheque Centre has always given the best rate for the dollar [clap]
[/quote]

Are they rates for cash and TC's or the rate you pay on purchases and from ATM's? (which is where the Nationwide debit card has had the advantage).

SeanT

28-02-2009, 02:45

<blockquote id="quote" class="ffs">quote:
Are they rates for cash and TC's or the rate you pay on purchases and from ATM's? (which is where the Nationwide debit card has had the advantage).
[/quote]

Nationwide has the advantage getting cash from ATMs in Florida I'd guess. I was just talking about getting dollars from stirling before you go over, also I believe they deal in cash only, no credit cards or cheques.

Tonish

28-02-2009, 17:27

<blockquote id="quote" class="ffs">quote:steph_goodrum

United Kingdom
7316 Posts
Joined: 12 Feb 2002
Status: offline
Posted - 27 Feb 2009 : 08:05:30
--------------------------------------------------------------------------------

it's not 0.16 Stephen, it will be 1% because currently none of the charge is passed on. After having had such a large tv campaign with Mark Benson last year explaining the "tip" and getting new customers it does seem a bit deceptive to then introduce the charge almost immediately if you've only opened the account because of it.

--------------------------------------------------------------------------------
Babblin Boo
http://www.orlandovillas.com/villas/92.aspx

[/quote]

Surely that's the problem? Nationwide offered this as a benefit to their customers and to distinguish their account from competitors, but found that too many were opening and using their account solely for that purpose. Nationwide therefore ended up with much increased charges and in effect having their "generosity" to customers abused.

Quite likely their own fault for shouting loudly about this particular benefit, but annoying to us customers. Lesson seems to be, if you're on to a good thing, keep your mouth shut!

sparkymarky

02-03-2009, 11:13

I won't be worrying about this as 1% isn't huge and alot cheaper than my Royal Bank of Scotland credit card which on top of 2.5% also charges a flat £1.25 fee too. The states is the only country where they charge which i am going to go to as the others are still free so will just take travellers cheques again.

Ruth

02-03-2009, 13:21

Thanks for the heads up on this. I will be applying for a Post Office card[8D]

Katys Grandad

02-03-2009, 18:31

<blockquote id="quote" class="ffs">quote:Originally posted by sparkymarky
I won't be worrying about this as 1% isn't huge...
[/quote]

Fair point - the exchange rate has been moving up or down more than 1% more or less every day for some time now. Just today it's fallen over twice that so the rate is really much more crucial than the card charges.

I'd still rather they hadn't taken this action though.

Solana

04-03-2009, 00:42

We've had this card for some time, largely due to the forum I guess but when/where do they tell you about these changes?
Just cancelled the Post Office one too!!

Clare R

04-03-2009, 00:49

As a Nationwide customer I do not believe they have told their customers. I only learnt this 'news' today from this very link.

Jill

04-03-2009, 00:53

We had a Nationwide credit card statement last week and there was certainly no mention of it either as a flyer or letter so my guess is they are keeping quiet and hope people do not notice[msnmad]

Katys Grandad

04-03-2009, 08:59

I'm still puzzled by what the NW website says about withdrawing cash with a 'cash card':

Your cash card is a MasterCard and therefore, initially, only Visa debit transactions will have a fee applied. However, we are looking to recover fees on all accounts shortly.

I have a FlexAccount with a Debit Card which is definitely Visa. What exactly is a 'cashcard'?

blott

04-03-2009, 11:48

<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
I'm still puzzled by what the NW website says about withdrawing cash with a 'cash card':

Your cash card is a MasterCard and therefore, initially, only Visa debit transactions will have a fee applied. However, we are looking to recover fees on all accounts shortly.

I have a FlexAccount with a Debit Card which is definitely Visa. What exactly is a 'cashcard'?[/quote]You get the option of a cashcard with some savings accounts, particularly internet/telephone based ones. These allow you to withdraw funds, without which you have no other means of doing this, apart from transferring money from a savings account to, say, a current account.

Katys Grandad

04-03-2009, 11:59

Thanks for that. I thought the same thing.

I probably should have quoted the question to the answer I pasted above.

If you look at the link in the first post of this thread, within the FAQ's it says:

"I have a FlexAccount with a cash card that I use to withdraw cash when I'm on holiday. Will I be charged?"

That suggests that it's linked to a FlexAccount which I regard as a kind of current account (I have savings accounts and haven't ever seen a Mastercard of any sort).

bargainqueen

04-03-2009, 12:43

The accounts are current accounts but they are aimed at people who are low earners or maybe have a poor credit rating, you only get a cash card as opposed to a debit card. No overdrafts or cheque books but direct debits/standing orders can be set up.

These type of accounts were introduced when the government decided to change the way benefits were paid.

Katys Grandad

04-03-2009, 12:47

<blockquote id="quote" class="ffs">quote:Originally posted by bargainqueen
The accounts are current accounts but they are aimed at people who are low earners or maybe have a poor credit rating, you only get a cash card as opposed to a debit card. No overdrafts or cheque books but direct debits/standing orders can be set up.

These type of accounts were introduced when the government decided to change the way benefits were paid.

[/quote]

Thanks!

sparkymarky

04-03-2009, 14:13

I would be very surprised if the post office don't follow Nationwide and bring in some charges as if they are one of the only ones then they will get alot more people move over to them.
I for one will stay with Nationwide and see how it all pans out

Robert5988

04-03-2009, 14:21

<blockquote id="quote" class="ffs">quote:The accounts are current accounts but they are aimed at people who are low earners or maybe have a poor credit rating, you only get a cash card as opposed to a debit card. No overdrafts or cheque books but direct debits/standing orders can be set up.

These type of accounts were introduced when the government decided to change the way benefits were paid.[/quote]

Everyone in my family has a standard Flexaccount which we have had for years.

We needed to open these accounts to have 'E-Saver' and ISA accounts, as all monies - in and out - must go via the Flexaccount.

We all have cashcards on these accounts, albeit they have never been used, as we used N/W for their saving facilities and the Flexaccount balances are always Nil.

When I wanted to use N/W in the USA some years later I couldn't have a debit card or cheque book on my Flexaccount and had to open a new Flexaccount to get them; and I now have 2 Flexaccounts.

Clare R

04-03-2009, 15:10

Still somewhat confused.

If I go into our US bank with my NW Flex account Visa debit card and ask for $xxxx to be transferred out of the NW account into US bank account am I going to be charged?

My heart tells me I will!

Katys Grandad

04-03-2009, 15:54

<blockquote id="quote" class="ffs">quote:Originally posted by sparkymarky
I would be very surprised if the post office don't follow Nationwide and bring in some charges as if they are one of the only ones then they will get alot more people move over to them.
I for one will stay with Nationwide and see how it all pans out
[/quote]

I wouldn't be surprised at all if the PO followed suit. Am I right in thinking that they only offer a credit card and that cash withdrawals already attract fees anyway?

04-03-2009, 17:54

I asked in the Nationwide today when the charges would be applied and none of the staf knew anything about it. So it looks like they aren't even telling their own people.

Robert5988

04-03-2009, 21:08

I sent a message to N/W and got the following reply:

<blockquote id="quote" class="ffs">quote:Thank you for your message.

I'm sorry to hear that you are unhappy with the recent news that Nationwide are introducing a charge on ATM withdrawals and debit card transactions, made outside of Visa Europe region, with your FlexAccount Visa debit card.

I confirm that Visa charge a fee for each ATM and debit card transaction. Currently nationwide pay this fee on behalf of our members. From Monday 1st July we will start to pass this charge on to members and it will be included in the sterling amount which will appear on your FlexAccount statement. The fee will be 1% from 1st July 2009 and will only be charges on ATM withdrawals and debit card transactions made outside of the Visa Europe region. -

This charge is not a commission charge. Our competitors tend to charge commission on foreign transactions, with the market average being 2.75% This commission charge is applied to transactions, both within and outside the Visa Europe region.

We will start to notify members of the charge in statements from 9th March 2009. members who have paperless statements will receive a letter in the last week of April 2009.

I have logged all of your comments on our Member Service site, so that we can continue to review and improve the service we offer to our members.[/quote]

My complaint was more that they ran an advertising campaign about no charges right up to a couple of weeks ago, rather than the charge itself.

You will note it made no mention of CREDIT card charges - so I have sent a further message.

Katys Grandad

04-03-2009, 21:16

Haven't they already been charging for ATM withdrawals with their credit card for some time?

Robert5988

04-03-2009, 21:39

<blockquote id="quote" class="ffs">quote:Haven't they already been charging for ATM withdrawals with their credit card for some time?[/quote]

I believe they have always made a charge for cash from an ATM using a credit card - even in UK.

I was referring to charges for purchases using the NW credit card which have always been at the same excellent rate as the Debit card purchases and ATM withdrawals.

I tend to use my NW credit card for most purchases in the USA and all my purchases in the last week have been at an exchange rate of between $1.421 and $1.436.

I am assuming that the 1% charge will also apply to these credit card transactions from 01 July.

Katys Grandad

04-03-2009, 22:43

<blockquote id="quote" class="ffs">quote:Originally posted by Robert5988
<blockquote id="quote" class="ffs">quote:Haven't they already been charging for ATM withdrawals with their credit card for some time?[/quote]

I believe they have always made a charge for cash from an ATM using a credit card - even in UK.

[/quote]

Yes they have. I really meant a currency conversion charge which is relatively recent.

bargainqueen

05-03-2009, 22:26

[quote][Everyone in my family has a standard Flexaccount which we have had for years.

We needed to open these accounts to have 'E-Saver' and ISA accounts, as all monies - in and out - must go via the Flexaccount.

We all have cashcards on these accounts, albeit they have never been used, as we used N/W for their saving facilities and the Flexaccount balances are always Nil.

When I wanted to use N/W in the USA some years later I couldn't have a debit card or cheque book on my Flexaccount and had to open a new Flexaccount to get them; and I now have 2 Flexaccounts.

/quote]

Now you can either open up a Flex account or a Cash Card Account, you can't open the later if you already have a Flex account.

My sister also found that her local branch didn't know anything about the change re charges.

These Cash Card only accounts are very popular with people who regularly fly with the budget airlines. Some banks offer an Electron card and at the moment these do not attract a booking fee.

Robert5988

06-03-2009, 03:34

Some further info.

<blockquote id="quote" class="ffs">quote:I confirm whenÂ you use a Nationwide Visa debit card or credit card to make a transaction in certain currencies other than sterling, Visa charge a fee for each transaction and Nationwide currently pays that fee on your behalf.

Â

We will start to pass this fee onto you from 6 May 2009 on credit card and from 1 June 2009 on debit card and it will be included in the sterling amount shown on your statement.

Â

The fee is currently 0.84%. From 1 July 2009 this fee will increase to 1%.

Â

The link below provides details of the countries for which Visa charge a fee. To check if you will be charged, please search for the country you are visiting by using the A-Z list. Unless stated otherwise a fee will be charged. You can also access a questions and answers section.

http://www.nationwide.co.uk/current_account/foreigntransactions.htm (http://www.nationwide.co.uk/current_account/foreigntransactions.htm) you may need to copy and paste the address into the address bar. [/quote]

I note from the link that a cash card will not have the charge applied.

bargainqueen

06-03-2009, 11:55

<blockquote id="quote" class="ffs">quote:I note from the link that a cash card will not have the charge applied.[/quote]Wonder how long it will be before they change that loophole, anyone thinking of setting up an account to draw out money in US should now open a Cash Card Account.

Possibly the same rules will apply to the Post Office account people have mentioned using to draw out from atm's.

All these accounts have very basic banking, no overdraft, credit cards or cheque books. Only way to withdraw money is at the Post Office or ATM.

The Post Office will soon have a surge of new account applications from disgruntled Nationwide customers who can't open up a cash card account.:D

Katys Grandad

06-03-2009, 12:35

<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad

Your cash card is a MasterCard and therefore, initially, only Visa debit transactions will have a fee applied. However, we are looking to recover fees on all accounts shortly.[/quote]Not very long it seems!

Jill

06-03-2009, 14:55

Went into Nationwide yesterday to see if it was possible to get an account with a cash card so we could continue to transfer cash to our US account without a fee. I was told there had been several people in yesterday moaning about the new charges and they were expecting to see a lot more. He said he expected they would start charging on cash cards which is run by Mastercard as soon as possible.

wrpac00

06-03-2009, 21:36

<blockquote id="quote" class="ffs">quote:Originally posted by Jill
Went into Nationwide yesterday to see if it was possible to get an account with a cash card so we could continue to transfer cash to our US account without a fee. I was told there had been several people in yesterday moaning about the new charges and they were expecting to see a lot more. He said he expected they would start charging on cash cards which is run by Mastercard as soon as possible.
[/quote]

Why don't you use someone like xetrade?