Nationwide petition

[fjmike]

For all those customers of Nationwide who are as disgusted as me about their new rules on charging for withdrawing their money abroad, please sign petition

http://www.petition.co.uk/nationwide-foreign-charges

 

I dont have much faith in petitions but its worth a try

[Guest Tracker]

As far as I can see Nationwide's new terms are still better than many other banks which are all tightening up their terms of use albeit most of them a lot more quietly and surupticiously than Nationwide.

 

Every business has the right to set it's own trading terms according to how it sees itself progressing in the future and I for one have no intention of being a petition signing whinger just because I don't like what they are changing in one small aspect of their banking service.

 

As far as I can see Nationwide are still one of the better banks in the UK and although I still prefer to bank with Smile I will retain my Nationwide accounts as a back up.

 

 

 

[fjmike]

Tracker - 2010-09-14 7:25 PM

 

I will retain my Nationwide accounts as a back up.

 

 

So by your own admission you are one of the free loaders that have caused this change. You mention banks but remember that Nationwide is a building society and in 2008 Nationwide Building Society indicated in television advertisements that it considered the imposition of additional fees and commissions to be unfair.

 

[Guest Tracker]

Absolutely!

 

But then I didn't petition Nationwide for the benefits - they offered it to me and when they took it away I didn't whinge!

 

C'est la vie - nobody said life was going to be fair!

[michele]

fjmike - 2010-09-14 7:39 PM

 

Tracker - 2010-09-14 7:25 PM

 

I will retain my Nationwide accounts as a back up.

 

 

So by your own admission you are one of the free loaders that have caused this change. You mention banks but remember that Nationwide is a building society and in 2008 Nationwide Building Society indicated in television advertisements that it considered the imposition of additional fees and commissions to be unfair.

 

 

SO, they have changed their minds

[nowtelse2do]

And their terms Michele.  The financial world is a different business world today than a couple of years ago, sadly.

Dave

[flicka]

I do believe that Petitions have a place in today's society & have signed. Petitions give the man in the street the opportunity to voice his opinion.

Like voting unless you participate than you suffer the consequencies, be they good or bad. By voting at least your opinion is registered and acan or not be effective in getting the result you want.

(Ask grumpy Gordon about ignoring public opinion)

If sufficient people voice their opinion then maybe, just maybe, these organisations will cease to take Carte Blanche actions, without first listening to their customers needs/requirements.

The only other alternative (which they prey on, as shedding the less profitable element) is that some customers will leave and try elsewhere.

[fjmike]

Seems like tracker should read his own posts

quote "When someone has to resort to insults to try and justify his point it tends to reduce the value of their argument not increase it and does little to encourage newer members" unquote

Just because somebody objects and is not afraid to voice that objection does not make them a whinger

[Guest Tracker]

Fair enough Mike - no offence was intended and the use of 'whinger' was never meant as an insult to you and I'm sorry if that is how you see it.

 

I would like to think that there is a big difference between something that could be interpreted as an insult by a reader and something that by it's very wording is obviously intended to insult.

 

 

[chas]

I have signed.

[tonyg3nwl]

Hi, Surely the best response , if you dont like the new conditions NW are offering, firstly, tell them by all means, then if you are sufficiently upset, change your money elsewhere..

 

Regrettably, until Everyone withdraws their funds, and forces them into a Northern Rock situation, nothing will change them. It is a commercial decision.

 

I , like others am upset, As I only went to them for the benefit, but am resigned to paying up to get euros, or stay at home.

 

tonyg3nwl

[cleo]

l've signed and moved my money in disgust. Gone to Halifax -£50 to switch and £5 a month sud pay my interest on my clarity card!! Wicked! Their loss not mine. *-) :D

[Wills Wagon]

I have written to Nationwide about this. They are changing because the cheap overseas offer is used only by a few people. As compensation they are offering free travel insurance which they think will be attractive to many more members. But if you are over 65 and have any health problems it will cost you lots you more. Although the new offer is still better than many other banks we will move all our savings as and when we find better deals. We will sign the petition.

[chas]

Hi- This explanation of only being used by a "few people",just goes to show how one lie leads to another by them. If this was the case, then surely why bother to change things instead of upsetting thousands of Nationwide members around the country with broken promises.

 

No, the real reason behind this scam is to attempt to rack in more profit, certainly not for its members, not for its shareholders(they dont have any) no, its purely done to increase profits for bigger bonuses for the directors in my opinion.

 

I cant see them backing down though, unless they were overwelmed by written protests and online disaproval. Sure they need to make profits for the benefit of the organisation, but to just introduce this fee without any vote from members is frankly diabolicle.

 

They will keep their heads down and hope this all dies down,but come the next AGM they will be accountable then we will see what happens.

 

I for one will return the voting form advising to support the board with a strongly written reply as to my reason not to support them. 8o|

[Derek Uzzell]

chas - 2010-09-19 7:47 AM

 

No, the real reason behind this scam....

 

What "scam" is that?

 

Nationwide used to offer FlexAccount holders interest on their in-credit current accounts and now they don't. Nationwide offers FlexAccount holders no-fee debit-card cash withdrawals from eurozone ATMs and, from November, they won't. So what? As long as what they do is not illegal, it's Nationwide's prerogative to alter their terms and conditions and, equally, Nationwides's customers' prerogative to use Nationwide financial products within those products' terms and conditions. But I can't see any "scam" being involved in either case.

 

According to the press reports, of the 1.4 million FlexAccount holders using the related debit card overseas, 900,000 use the account ONLY for that and nothing else, so it's hardly surprising Nationwide has chosen to address that situation.

[lennyhb]

fjmike - 2010-09-14 7:39 PM

 

Tracker - 2010-09-14 7:25 PM

 

I will retain my Nationwide accounts as a back up.

 

 

So by your own admission you are one of the free loaders that have caused this change. You mention banks but remember that Nationwide is a building society and in 2008 Nationwide Building Society indicated in television advertisements that it considered the imposition of additional fees and commissions to be unfair.

 

How can you accuse Rich of being a free loader when Nationwide actively advertised there product promoting their foreign exchange rates to attract new customers. My wife, both my daughters and myself all have Nationwide account purely for use when travelling and as a direct result of their advertising . When I opened my account at my local branch I told them why I was opening it they had no objections.

 

 

[Corky 8]

 have a look you may be able to get one here     http://www.cumberland.co.uk/

[fjmike]

Corky 8 - 2010-09-20 7:47 PM

 have a look you may be able to get one here     http://www.cumberland.co.uk/

Unfortunately I would have to move up north to qualify

[747]

fjmike - 2010-09-20 9:14 PM

Corky 8 - 2010-09-20 7:47 PM

 have a look you may be able to get one here     http://www.cumberland.co.uk/

Unfortunately I would have to move up north to qualify

Sorry mate.The North`s full.Have you tried France?

[Porky]

There is nothing new in this. All companies do it. You know low price/high benefit to get you hooked and then the increase/decrease. They operate on the basis that a certain percentage of those hooked will stay, as they do.

Some while ago West Brom. B S pushed their over 50s monthly income account with a very good rate of interest, much better than anyone else. A certain period of time passed and then they reduced it. They have now reduced it a second time, not because of falling interest rates but because, as they say "due to market contions". yeh my ar**. But I bet a pound to a pinch of salt that even after some leave they will still end up with more accounts than if they had not offered the original rate.

So I will now look at the market again and decide whether I stay with West Brom and Nationwide or not. These are businesses they are not kindly benefactors and they will only change decisions if their income is affected, threats or complaints in themselves will change nothing. They are only interested in maximising the bottom line of their balance sheet>:-)

 

Roy Fuller

 

[Rayjsj]

I have an savings account with the Halifax(as well as Nationwide), yesterday had a phone call from them,offering me a 'New' Credit Card called 'Clarity' or something like that, Normal use 12.9%, but the point is the guy said Zero extra charges for foreign use, and provided the balance is paid off monthly NO charges at all. sounds a bit too good to be true ? I await the forms etc., to check the small print. watch this space. Ray

 

PS tried to sign the petition, but the link seems to be broken.

[Big Momma]

Last year, after reading lots of posts on this forum about the advantage of the Nationwide Travel card, I enquired as to how I could get one. I was told by the Nationwide staff member that unless i was a customer I could not get one. He did try to persuade me to transfer my banking arrangements to Nationwide but I declined.

 

I am currently looking at the Caxton Euro card. This is a Debit Card (Mastercard) which you can preload with cash. There are 3 card types, Euro, Sterling or US Dollar. You simply preload the debit card with funds from your normal bank account at a preferential exchange rate to some others who provide currency exchange, you can do this via telephone, internet or Text. You can use the card to withdraw from ATM's, use it in shops, restaraunts or Petrol stations, in fact anywhere where the Mastercard symbol is displayed. Seems like quite a good system to me.

[Derek Uzzell]

Rayjsj - 2010-09-22 6:24 PM

 

I have an savings account with the Halifax(as well as Nationwide), yesterday had a phone call from them,offering me a 'New' Credit Card called 'Clarity' or something like that, Normal use 12.9%, but the point is the guy said Zero extra charges for foreign use, and provided the balance is paid off monthly NO charges at all. sounds a bit too good to be true ? I await the forms etc., to check the small print. watch this space. Ray

 

PS tried to sign the petition, but the link seems to be broken.

 

Debit and credit cards are different species when it comes to obtaining cash.

 

When you use a debit card you are (normally!) accessing your own money: when you use a credit card you are effectively obtaing a 'cash loan'.

 

It's not too difficult to obtain a credit card that is 'fee free' when used for purchase transactions abroad (my Nationwide' credit card falls into that category), but, if it's used to obtain cash (ie. a loan') then fees MAY be charged, and (as far as I'm aware), even if FEES are not charged, INTEREST on the cash sum will ALWAYS be charged from the moment the money is withdrawn from the ATM to the moment when the 'debt' is paid off. It may be possible to be canny by minimising the time between obtaining the cash 'loan' and paying off the resultant 'debt', but that lacks the simplicity of using a debit card.

 

Nationwide's FlexAccount debit card allowed you to withdraw your own money abroad whenever you wanted to and (within the the eurozone) you paid no fees and no interest. That's why it was so popular.