Nationwide Flex

[richardpalmer]

Nationwide are introducing commision on non-sterling purchases and a £1 cash withdrawel charge overseas from November. Such a shame...:-(

 

[Merlin53]

Check the Nationwide web site if using your credit card, there is no charges for the use in France, they have NOT said charges will be invoked.

 

[KeithJ]

Nationwide have not said their CREDIT card is changing - only their DEBIT, which works with their Flex Account.

Trouble is there is no other DEBIT card that compares with Nationwide at the moment - all the others charge even more commission and fees than Nationwide proposes to. The other commission free (so called) competitors are all CREDIT cards, so if you use them to draw cash you are borrowing money. This may just cost in in one or two cases, but personally, after studying the figures I have decided to stay with Nationwide. Their exchange rate will be 2% worse than now, but even if you check the rates of pre paid cards they are no better.

The £1 flat rate fee for ATM withdrawals will only amount to a few pounds per holiday - how often do you draw cash?

Their credit card remains a commision free bargain if used only for purchases (until they decide to change that!)

 

[RayS]

If you are prepared to risk fixing the rate in advance have a look at the CaxtonFX pre-pay card www.caxtonfx.co.uk This has the added advantage that there is no link back to your main bank accounts.

 

[KeithJ]

Ray - I have looked at Caxton. Although they claim to be commission free their rate of exchange is about 2% worse than Nationwide at the moment - so when Nationwide include the 2% they are proposing they will be the same. That is why I decided to stay with NW.