Nationwide to Introduce ATM charges

[johncar54]

I was shocked to see 'our good friend' Nationwide is going to introduce charges for withdrawals from ATM’s outside Europe. Initially 0.84% rising to 1% in July.

I check on:

http://nationwide.co.uk/current_account/foreigntransactions.htm

and saw that CASH cards will continue to be free.

[benb]

I was shocked to see 'our good friend' Nationwide is going to introduce charges for withdrawals from ATM’s outside Europe. Initially 0.84% rising to 1% in July.

I check on:

http://nationwide.co.uk/current_account/foreigntransactions.htm

and saw that CASH cards will continue to be free.


Its still cheaper than most other cards currently charging at ~2.75%.

Best to bring cash if you plan to spend a lot but at the risk of carrying it around.

Cheers

[Gavanddal]

Oh B******S! I knew it was too good to last!

[darren-b]

Its still cheaper than most other cards currently charging at ~2.75%.

Best to bring cash if you plan to spend a lot but at the risk of carrying it around.
Cheers

That really depends on the exchange rate you get when you exchange your sterling for pesos. Not used my Nationwide card in the Philippines yet, but when I've used it in the US/Europe the exchange rate given was basically the current mid-market rate. So unless you know of a money exchanger that gives the mid-market rate I can't see cash being any better (and could be a lot worse).

The best way (though obviously not always practical) is to not use cash and pay instead with the the credit card issued by the Post Office.

[johncar54]

Maybe I did not make it clear:

If you use a CASH CARD there is still no charge, so I suggest if you don't have one make the application now.

We use a CASH CARD to transfer money to family in Phil. It's instant and no charges either end. The exchange rate Nationwide use has always been the best we get anywhere.

Some years ago I gave a Debit Card to a friend in Thailand. I later discovered that a debit card can be used for credit card purchases, a CASH CARD can ONLY be used to draw cash, up to the sum held in that account. I just transfer on line the required sum to that account.

[darren-b]

Maybe I did not make it clear:

If you use a CASH CARD there is still no charge, so I suggest if you don't have one make the application now.

We use a CASH CARD to transfer money to family in Phil. It's instant and no charges either end. The exchange rate Nationwide use has always been the best we get anywhere.

Some years ago I gave a Debit Card to a friend in Thailand. I later discovered that a debit card can be used for credit card purchases, a CASH CARD can ONLY be used to draw cash, up to the sum held in that account. I just transfer on line the required sum to that account.

Yes, but I already have a Nationwide Flex account which is affected as it has a visa debit card. I cannot open a Cash Card account (part of the conditions is that you not have an existing current account with Nationwide Building Society), unless I close my Flex account, and even then I suspect they would try to steer me away from a Cash Card account. I'm not sure it's worth going down that route anyway as the FAQ to me suggest they might change the Cash Card too at some point.