Nationwide have announced that from November 1 2010 they will charge 2% on all foreign purchase transactions and 2% plus £1 for ATM withdrawals using their debit card.
In the past Nationwide have been the best card to use abroad but this move combined with other recent changes means they're just 1 of the better ones but a long way off being the card of choice these days.
I was under the impression they brought that charge in last year , unless there was a lower figure last year.
Babblin Boo
This is a new charge which has been announced today - bit sneaky bringing it out at the weekend when several people are likely to miss it. In the past we have taken out debit card into Wachovia and moved money direct into our US account with no charge but won't be doing that after November.
The new Halifax credit card looks a much better option for overseas travel now.
Looking at it Susan is right, they have doubled from last year. The only reason it stuck in my mind was because I remembered telling my daughter last year who had specifically opened an account a couple of years prior so that she could use it without charge.
Babblin Boo
It has now been announced that Nationwide are giving free travel insurance to those who use the Flex account as their main bank account to compensate for the new charging regime. However, the cover will only be for annual European multi trips so for the States you will have to pay an additional fee which might make the travel insurance uncompetitive. This is the link to the Nationwide media centre which explains the charges in full http://www.nationwide.co.uk/mediacen...is.asp?ID=1590 (if this link is not allowed please remove link)
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