Nationwide flex account

[handyman]

The Nationwide flex account is a favourite for most poeple who travel in Europe, due to the good exchange rates, no fee etc..............

 

Has anyone else got the details in a leaflet from them, telling you they are changing the flex account to a flex account plus account by June 2010?

 

Well the "we're improving your current account" leaflet states that you will not get a cheque book with it 8-) , and even worse, that you will not be able to use cash machines outwith the UK 8-) 8-)

 

Superb improvement to the account *-) *-)

[spospe]

See: http://www.outandaboutlive.co.uk/forums/forums/thread-view.asp?tid=18887&posts=18

 

 

[handyman]

its called a cash card + account, according to the leaflet.

 

it also says 'your new card will offer you a number of ways of using your current account to pay for goods and services / get your salary payed into it' etc

 

The wife got the same letter for her account.

[handyman]

spospe - 2010-03-07 10:34 PM

 

See: http://www.outandaboutlive.co.uk/forums/forums/thread-view.asp?tid=18887&posts=18

 

 

I thank you :$

[Brian Kirby]

Probably easiest just to read the following, with apologies to Nationwide for nicking it from their website.  No need to panic, so long as you differentiate between the two differently named accounts.

---

Cash Card Account

The Nationwide Cash Card Account is our basic current account. This is most appropriate for customers receiving state benefits or pension. To be eligible for a Nationwide Cash Card Account you must:

• be aged 18 or over
• not have an existing current account with Nationwide Building Society

Our Cash Card Account includes the following features:

• Facilities to pay money in and set up regular payments like standing orders and Direct Debits
• A cash card which enables you to withdraw money and check your balance at cash machines – you can also withdraw money at any Post Office® branch
• Internet Banking and Telephone Self Service facilities for managing your current account

However it does not give you:

• a cheque book;
• a VISA debit card; or
• an overdraft.

Counter restrictions apply to this account. For details please contact a member of the branch team.

---

Plenty of great reasons to choose FlexAccount as your main current account

MORE for our current account customers
At Nationwide we're always looking for ways to give more to our customers. If you hold a FlexAccount with a debit card and use it as your main current account, you could qualify for great deals and exclusive offers on other Nationwide products, designed to give MORE to our current account customers. Find out more.

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With our online Account Transfer Service it's a breeze to transfer your Direct Debits, standing orders and bill payments. Find out more about switching your account using our quick and easy Account Transfer Service.

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We are the only high-street provider that doesn't charge you commission if you use your card abroad*. Some competitors charge up to 2.75% for buying goods or services and withdrawing cash abroad.

* We will pass on a Visa charge for foreign transactions outside of the Visa Europe Region.

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When you open a FlexAccount and switch your existing current account to us, we may be able to offer you a three-month interest-free overdraft. Conditions apply. Find out more.

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[handyman]

like in the other thread, I dont know what account they are talking about. Looked on my online banking, and the account they give (written *******1234) isnt there. When the letter kept stating your 'current account' I presumed it was my current account (lol)

 

Dont know what account this is, I do hope theres a stack of cash in it

[Derek Uzzell]

Presumably the Nationwide letter/leaflet is some sort of general 'changes to terms and conditions for Banking and Savings accounts' advisory notice that will affect some customers but not others depending on the type(s) of Nationwide account they have.

 

I haven't (yet) received the Nationwide letter/leaflet that's caused this furore, but I'd guess that any a/c number mentioned in it that ends in "1234" is for illustration purposes only.

 

 

[Porky]

I have a flexaccount and have not received anything from Nationwide. In fact they have just given me £75 for transferring my direct debits to this account(lol)

 

Roy Fuller

[spospe]

Just to confirm things:

 

Nationwide are restricting their "Cash Card" and changing its name to "Cash Card+". After the changes have taken place, it will not be possible to use the "Cash Card+" to withdraw money abroad.

 

The solution is to upgrade the "Cash Card" to a Visa Debit card by going to any Nationwide branch and applying for it there. With your new Visa Debit card you will still be able to withdraw cash from ATM's for free in Western Europe.

 

The above assumes that you have a Nationwide Flex Account and that this is the source of the money for making withdrawals.

 

The "Account Number" that seems to be causing some confusion is the number in the middle, at the bottom of the card and not the long (16 digit?) number across the middle.

 

 

[handyman]

Derek Uzzell - 2010-03-08 9:07 AM

 

but I'd guess that any a/c number mentioned in it that ends in "1234" is for illustration purposes only.

 

 

It was an example of how its written on the letter, as i didnt want to put the actual last 4 digits of the account on the internet

[Guest ademapearl]

I think you will find that this 'basic' account with no frills is designed to give people who would not otherwise be trusted with a bank account some way of getting money. If you are on social security, they can pay money into this account, as they do not issue cheques any more. Banks are getting very fussy about who they will let open an account (pity they were not more fussy about who they dealt with before!) and if you are a bit dodgy then they will direct you to this. I think the government have pushed all the banks to offer these sort of accounts as a social service, so I am a bit surprised that any of the highly responsible members of this forum have been offered this account. Not much use to us - with no Visa link, it could not be used abroad.

[handyman]

Eh, the whole point of the thread was that I have a flex account, but this letter appeared to say its was being replaced with a plus account, which is worse..............

 

Anyway, I'll phone them tonight and ask what this other account is that i have :-S

[duffers]

try dropping them a line using the messaging facility online

the standard headings are pretty useless, but they normally answer queries pretty promptly

[cronkle]

Having had a sight of one of the letters it looks to me as if they are talking about changing the card rather than the account. You would not have to do anything with your account, just use a new card to withdraw sums from it.

[Brian Kirby]

All true, but the account in question is not the Flex Account.  Heading this string Flex Account was erroneous, that is the point.

[Derek Uzzell]

Brian Kirby - 2010-03-09 5:29 PM

 

All true, but the account in question is not the Flex Account.  Heading this string Flex Account was erroneous, that is the point.

 

Brian

 

I'm not sure this is necessarily the case.

 

The following MHF thread refers to the mysterious Nationwide letter:

 

http://www.motorhomefacts.com/ftopic-81963-days0-orderasc-0.html

 

The discussion seems to raise the possibility that there may be holders of FlexAccounts linked to "Cash Cards" rather than to VISA Debit cards.

 

It's reasonable to assume that the number of Nationwide customers with "Cash Cards" is relatively small and that Nationwide will choose (for cost reasons if nothing else) to advise only those particular customers about the forthcoming revisions to the Cash Card terms and conditions. This assumption seems to be borne out as Nationwide customers (like me and, presumably, you) with FlexAccounts linked to VISA Debit cards apparently have not received the Cash Card-related notification.

 

Handyman and his wife have both received the Nationwide letter. Handyman has a FlexAccount and I'm assuming his wife does too.

 

Assuming that Nationwide's records are accurate, this seems to leave just two logical possibilities. The first is that the cards linked to Handyman's and his wife's FlexAccounts are "Cash Cards" not VISA Debit cards. The second is that Handyman and his wife, in addition to having FlexAccounts linked to VISA Debit cards, have Cash Card Accounts (of which that they have no knowledge) linked to "Cash Cards". Although I wouldn't discount the second possibility, I think I favour the former, despite it apparently contradicting Nationwide's account information.

 

The front of the 'normal' card linked to a Nationwide FlexAccount is clearly marked "VISA DEBIT" in the upper-right corner. I haven't seen a Nationwide "Cash Card", but (because of its very nature) it will not carry the VISA marking. On that basis - even if the cards are otherwise visually similar - it should be straightforward to distinguish between the two types of card.

 

(It's perhaps worth adding that, if there are indeed FlexAccounts with Cash Cards not VISA Debit cards, account-holders could well be unaware of this as the "Cash Card" will have permitted ATM cash-withdrawals abroad as well as in the UK.)

 

Hopefully Handyman has now resolved this conundrum with Nationwide and is now in a position to let the forum know what the true situation is.

[spospe]

Derek Uzzell - 2010-03-11 8:27 AM

 

Brian

 

I'm not sure this is necessarily the case.

 

The following MHF thread refers to the mysterious Nationwide letter:

 

http://www.motorhomefacts.com/ftopic-81963-days0-orderasc-0.html

 

The discussion seems to raise the possibility that there may be holders of FlexAccounts linked to "Cash Cards" rather than to VISA Debit cards.

 

It's reasonable to assume that the number of Nationwide customers with "Cash Cards" is relatively small and that Nationwide will choose (for cost reasons if nothing else) to advise only those particular customers about the forthcoming revisions to the Cash Card terms and conditions. This assumption seems to be borne out as Nationwide customers (like me and, presumably, you) with FlexAccounts linked to VISA Debit cards apparently have not received the Cash Card-related notification.

 

 

The above is the situation as explained to me by Nationwide on Tuesday. They also said that it was possible to upgrade the 'Cash Card' to a 'Visa Debit Card' at no cost by visiting a Nationwide branch.

 

[Brian Kirby]

Derek Uzzell - 2010-03-11 8:27 AM

Brian Kirby - 2010-03-09 5:29 PM All true, but the account in question is not the Flex Account.  Heading this string Flex Account was erroneous, that is the point.

Brian I'm not sure this is necessarily the case. ...........

I'm afraid I misunderstood handyman's following post, in conjunction with Nationwide's website information, as pointing to his account being a Cash Card Account.  I read his reference to "it" as referring to his account, and not to the leaflet.  Oh for the definite article, it so helps literal minded buggers like me!  :-)

handyman - 2010-03-07 10:40 PM its called a cash card + account, according to the leaflet. it also says 'your new card will offer you a number of ways of using your current account to pay for goods and services / get your salary payed into it' etc The wife got the same letter for her account.

Michael's subsequent post confirms cash cards were supplied with some Flex Accounts.  Apologies for any confusion.

[Derek Uzzell]

spospe - 2010-03-11 3:26 PM

 

The above is the situation as explained to me by Nationwide on Tuesday. They also said that it was possible to upgrade the 'Cash Card' to a 'Visa Debit Card' at no cost by visiting a Nationwide branch.

 

Once it had been established that a Nationwide FlexAccount + "Cash Card" was a permissible combination, I did some GOOGLE-searching that retrieved the following:

 

http://boards.gapyear.com/index.php?op=vt&c=4&f=121&t=259660&o=0

 

http://boards.bootsnall.com/nationwide-in-the-uk-and-the-flexaccount-cash-card-t11207.html

 

Two things should be evident - that "Cash Cards" have been provided with FlexAccounts for at least 5 years, and that gaining approval from Nationwide to upgrade a FlexAccount from a "Cash Card" to a VISA Debit card may be trickier than might be first anticipated.

 

It would appear that, when someone applies for a FlexAccount, the decision as to whether they are given a VISA Debit card or a "Cash Card" is based on credit-scoring. This suggests that, if Nationwide uses the same credit-scoring criteria to 'vet' a requested upgrade from a "Cash Card" to a VISA Debit card, the upgrade might well be refused.

 

Maybe I'm being pessimistic but, if I had a FlexAccount + "Cash Card" and planned to upgrade to a VISA Debit card to circumvent the forthcoming changes to the "Cash Card" conditions, I'd want to make absolutely sure ASAP that Nationwide was going to approve the upgrade.

 

I'd really want to upgrade immediately but, if it's not practicable to process an upgrade until the Cash Card conditions alter, then I'd want written agreement from Nationwide that an upgrade would be approved then. I'd definitely not want to rely on well-intentioned "It should be OK"-type verbal advice from Nationwide staff.

 

I'm certain (as Spospe says) that it will be "possible to upgrade the 'Cash Card' to a 'Visa Debit Card' at no cost by visiting a Nationwide branch". However, I'm much less confident that it will be possible for EVERYONE with a FlexAccount + "Cash Card" to upgrade to a VISA Debit card.

 

(Presumably Handyman will be seeking to upgrade his (and his wife's) FlexAccount cards, so it will be interesting to learn how he gets on.)

[GypsyTom]

Whether Nationwide's Flex account gives you a Visa debit card or a cash card is most definitely, as Derek Uzzell says, based on credit scoring.

Nationwide's website makes this clear. I have to report utter satisfaction so far with my application. I did not ask them to transfer direct debits etc. as I want to run my two accounts side by side for a while just to make sure that Nationwide fulfils its promise and that its Internet banking is as safe and as good as Alliance and Leicester, which I use at present.

I was immediately given Visa debit cards for me and my wife as they obviously view me as a good credit risk, even though I haven't deposited a penny in the account.

In the past I've usually gone away with a stack of Euro secreted around the 'van but hopefully I can now just take a couple of hundred and draw it as necessary.

I also like the idea of it being a mutual and I've been saddened by the loss or conversion of so many building societies.

[maggyd]

What I cant understand is why people that arent clear about their account ! dont make an appointment to go and discuss it with an adviser :-S when we opened our account which has a Visa debit card, we made it clear what we wanted for e.g. to use it while abroad, you do have to load it upfront and arrange for an amount to be paid in each month, but as we have our gov; pension paid into it and I use it to pay for my food bill, it works fine for us while abroad just as at home.

 

I just wont do Internet banking :-S and told them so. We have a current account elsewhere that deals with standing orders.

[spospe]

We have just returned from visiting our local Nationwide office and here is the current state of things ........

 

If you have an account with Nationwide which includes a Flex Card, you can at the present time also have a Cash Card, or a Visa Debit Card.

 

The Flex Card can be credited with ££ before going abroad and at the present time this money can be withdrawn abroad in the local currency using either the Cash Card or the Visa Debit Card. If you withdraw cash within the EU there are no charges, if you withdraw cash outside the EU you will be charged 1%

 

Starting in June this year the Cash Card is being replaced with the Cash Card+ and it will not be possible to use it to withdraw money abroad. The Visa Debit Card is unaffected.

 

The solution to the problem (for us) was to open a Visa Debit Card, this we have just done.

 

The man at the Nationwide said that they might not be willing to do this for everyone as it depends on how long you have been with them and how much money you have on account, etc. The best thing to do is go and see them and find out what is available in your particular case.

 

So for the present time at least we will still be able to get cash abroad from ATM's in the local currency without paying charges.

 

As an aside, when we were in Norway in 2008, we got out 1000 NOK using the Nationwide and at the same time 1000 NOK using another bank's card, just to see if the Nationwide were being a bit sneaky and instead of charging commission, were giving a lower exchange rate. The big surprise was that Nationwide were actually giving a better rate that the other bank, so we had a double benefit, no commission and a better rate!

 

[Klyne]

I suppose reading between the lines Nationwide are getting fed up with servicing accounts which are clearly not main bank accounts. Many people have opened Flex Accounts and just add the minimum amount of money in to the the account to keep it open and then just add the money they need for the holiday. I know there are restrictions now in place if you want to open a Flex Account but perhaps this is their way of dealing with the ones already open.

 

David

[duffers]

Klyne - 2010-03-12 8:53 PM

 

I suppose reading between the lines Nationwide are getting fed up with servicing accounts which are clearly not main bank accounts. Many people have opened Flex Accounts and just add the minimum amount of money in to the the account to keep it open and then just add the money they need for the holiday. I know there are restrictions now in place if you want to open a Flex Account but perhaps this is their way of dealing with the ones already open.

 

David

 

 

not unreasonable - they are not a charity after all