Nationwide abolishing cash card for us !!!!

[johncar54]

We have discussed this in another thread but I think it is very important to try to prevent Nationwide from removing a facility which is of very special interest to those who need, or might need, to draw cash whilst outside UK and in particular when in Philippines.


I have used the card to transfer cash to family for a number of years, both to Philippines and previously to Thailand.

The advantages include:-

Funds being instantly available by a simple transfer on line from one Flex-account to the Cash Card one;

No charge at either end, providing a Visa ATM is use (there are many in Phil);

The amount drawn can never exceed the amount which has been put in the Cash Card account;

The card (unlike a Debit or Credit Card) cannot be used to make purchases, Debit cards can be used as credit card (I know from a previous relationship in Thailand).


I urgently request that before they take the action to abolish the CASH CARD, when it will almost certainly be too late, that everyone, whether affected now or not, please drop an email to Nationwide's CEO ----- Graham.Beale@nationwide.co.uk ----- telling him of our concern.


Thanks Guys.

This is the latest (BS) letter from Nationwide explaining how abolishing the Cash Card is to our advantage !!!!!

COPY OF LETTER:-

Nationwide
Member Service
Nationwide Building Society
1st Floor,
Old Building Kings Park Road Moulton Park
Northampton
NN3 6NW

Telephone: 01604 836938 01604 836938
Facsimile: 01604 854679
www.nationwide.co.uk


Our Reference: 101003 23 March 2010

ABOLITION OF CASH CARDS AS MEANS OF DRAWING CASH OUTSIDE UK

Turning to the changes themselves, these have been introduced following a review of the features of our accounts and the increasing use of cards for payments in shops, online and over the phone. In line with these changes in spending we have decided to make some changes to the facilities on our Cash Card Account. All FlexAccounts with a cash card and cheque book and Cash Card Only Accounts will have their current cash card replaced with the new cash card+.

The functionality with a cash card+ is different to the existing cash card,

FUNCTIONS AVAILABLE:-

At Point of Sale: in shops in the UK and abroad and on the internet using the secure Verified by Visa service where available and on the phone
Cash card+ is slightly different to a Visa debit card as point of sale transactions using a cash card+ are authorised online by Nationwide as opposed to Visa.

CASHBACK: Customers may ask for cashback in certain UK stores.

ATM:- The customer can use their cash card+ to withdraw cash from any cash machine in the UK as well as from Post Office® counters.

However, the customer will not be able to withdraw cash from cash machines outside the UK

(Other conditions not relevant to the Forum I (johncar) have deleted

As you can see this particular account will not have the facility of being able to withdraw from ATMs abroad. In coming to this decision Nationwide carried out a strategic review of its basic bank account offering and by introducing these new cards we have given our customers the ability to pay for goods over the counter, on-line and over the telephone - all of which were unavailable on our old Cash Card Account. As such we have made the decision to remove the ability to withdraw cash from overseas cash machines. Consumer behaviour indicates that point of sale is more useful than the ability to withdraw from a cash machine. More than double the number of card transactions are carried out at point of sale rather than cash machines*. This change enables customers to transact in a way more consistent with modern spending habits. In addition, the majority of debit card customers (around 70%) use their cards at point of sale abroad rather than at cash machines. (DEBIT CARDS NOTE NOT CASH CASH CARDS)

We realise that the changes to the features on our current account will not suit every individual member's needs, having said that we are confident our membership as a whole will be better off because the overall benefits of these changes will outweigh the disadvantages some members may experience.
Should you decide this account is not right for you then please do not hesitate to call us on 08457 302010 or visit us online at www.nationwide.co.uk to look at the options available.

You may also wish to bear in mind that you do have the option to close this particular account if it does not meet your requirements.

I really hope what I have been able to tell you has helped. However, if you have any remaining queries or concerns that we may have missed or you feel have not been answered, I would welcome the opportunity to talk these through with you so please do not hesitate to telephone me on the above number.

We always aim to reach a satisfactory conclusion but if you feel there is nothing more you wish to add, I am required to provide you with details of the Financial Ombudsman Service, which is based at South Quay Plaza, 183 Marsh Wall, London, E14 9SR, telephone number 0845 080 1800. I have also enclosed its leaflet, which you may find useful. You will notice if you decide to pursue this matter with the Ombudsman you should do so within six months of the date of this letter.

Yours sincerely

Helen Savage Executive Assistant

*Based on industry figures - UK Plastic Cards 2009, Apac[


-----------------------------------------------------------------------------------

PLEASE INDICATE WHEN YOU HAVE SENT A COMMENT TO NATIONWIDE, I KNOW THAT WE CAN AFFECT THIS DECISION.

[johncar54]

AN ADDITION:-

Even though you do not live in UK please email anyway.

They do not know that you may not be an existing customer or a potential future one.

I have emailed all my friends asking them to send a mail too.

[johncar54]

This is a copy of the email I have just sent to Nationwide._




Personal Attention Graham Beale, CEO Nationwide:-

From what I see all you are doing is abolishing the Cash Card. The 'benefits' which are outlined in the letter are already available to customers who have a Debit or Credit Card.

To quote what 70% of Debit card holders do has no relevance to Cash Card holders. If you quoted what Cash Cared holders do then I assume it would be that 100% use them to draw cash. That is why we applied for one and that’s what we want them for.

From recommendations I have posted over the years and written about in the media I believe that you have probably acquired many new customers. To withdraw the facility will be contrary to the wishes of many customers. Of course there will be some who will not initially appreciate what you are really doing and also ‘the silent majority’ who will not bring their disappointment to Nationwide’s attention and probably very few who will bring it to your attention, thus it may ‘seem’ very few are affected.

I believe the information which has brought you to this decision has been poorly researched, as shown by the reference to Debit Card use and not Cash Card use. As it is clearly a money saving initiative, imposing a reasonable charge for the existing facility would have been a more acceptable and honest approach.

I ask that you reconsider the decision.

[johncar54]

AN ADDITION:-

Even though you do not live in UK please email anyway.

They do not know that you may not be an existing customer or a potential future one.

I have emailed all my friends asking them to send a mail too.

This is the email of Nationwide's CEO: Graham.Beale@nationwide.co.uk

A note to him, saying you are disappointed to hear they are in effect abolishing their Cash Card may help to get them to change their policy.

[darren-b]

I think you are missing the point of the Nationwide cash card account, it meant for people on low incomes who don't qualify for their main (flex) bank account. Therefore the changes are to the advantage of the people that the card is aimed at. When Nationwide stopped free worldwide foreign withdrawals on their main (flex) account last year I though it wouldn't be long before they stopped it on their basic (cash card) account.

You've been lucky to be able to use it over the years as the equivalent of pre-paid currency card with no fees, but I suspect your free ride is now over no matter how much you try to protest.

[johncar54]

I think you are missing the point of the Nationwide cash card account, it meant for people on low incomes who don't qualify for their main (flex) bank account. Therefore the changes are to the advantage of the people that the card is aimed at. When Nationwide stopped free worldwide foreign withdrawals on their main (flex) account last year I though it wouldn't be long before they stopped it on their basic (cash card) account.

You've been lucky to be able to use it over the years as the equivalent of pre-paid currency card with no fees, but I suspect your free ride is now over no matter how much you try to protest.

Hi Darren, Interesting point but Nationwide in their correspondence with me have not said that is the reason why they are doing it.

They say it is based on the use made by holders of Debit Cards

I am sure everyone who has a Cash Card would have no objection to the bank improving its service to a wider group, if that is their intention, but it doing so why should they choose to penalise an existing group who are content with the present service.

Had they said, as I believe, that they are trying to reduce their costs that’s fine, open and honest, but attempt to justify it on the use of Debit cards is not only dishonest but also to a large extent ridiculous. Rather like Fords abolishing the Fiesta based on the use made of 4 wheel drives.

One of the main advantages at present with a Cash Card is that a Debit Card can in certain circumstances be used to make purchases which exceed the balance in the account. A cash card can only be used to withdraw up to the amount in the account, thus the account holder can be certain of the maximum which can be withdrawn. In some circumstances, maybe a 'newish relationship' which may turn out to be a scam, with a Cash Card the 'donor' is in control of how much they are being conned for, with a Debit Card they are not.

However, I did not want to get into a discussion about this, and it is not to help me personally, but all of us who will be, or maybe disadvantaged.

I was hoping people who can see the advantages of the existing cash card would support an attempt to save it by send a quick email to Nationwide’s CEO at:- Graham.Beale@nationwide.co.uk

[darren-b]

Pretty certain that you can't go overdrawn on all debit cards. Many banks offer visa debit cards with their basic bank accounts with no overdraft facilities. Also some banks have been known to issue visa debit cards to children, and it would be illegally to let children go overdrawn. So the only feature Nationwide is removing is the free foreign withdrawals.

No doubt one of the drivers is cost, but you might not see it but the debit card argument is actually a very valid argument. Debit card transactions are set to overtake cash transactions this year, and with the introduction of contactless cards I can only see the use of debit cards increasing.

I can see the advantages of free foreign withdrawals, but it seems like it's a thing of the past because as you say there are no other banks or financal companies that offer anything similar for free.

[johncar54]

Pretty certain that you can't go overdrawn on all debit cards. Many banks offer visa debit cards with their basic bank accounts with no overdraft facilities. Also some banks have been known to issue visa debit cards to children, and it would be illegally to let children go overdrawn. So the only feature Nationwide is removing is the free foreign withdrawals.

No doubt one of the drivers is cost, but you might not see it but the debit card argument is actually a very valid argument. Debit card transactions are set to overtake cash transactions this year, and with the introduction of con-tactless cards I can only see the use of debit cards increasing.

I can see the advantages of free foreign withdrawals, but it seems like it's a thing of the past because as you say there are no other banks or financial companies that offer anything similar for free.

Darren. Frankly I am not interested in why Nationwide are making the changes, but asking everyone to just send a email objecting to it. That might cause them to think again.

I don't think it will affect me that much, as I can trust my wife's cousin who has possession of the card in Phil, however, for those who may not be able to, retention of the card will help them and I believe we are here to help where we can.

So an unselfish quick email please

[johncar54]

Finally the truth. As I thought: Improved service my foot. They don't give a damn for their customers its to save money,


Reply from Nationwide:-

Thank you for your email of 31 March addressed to Graham Beale, our Chief Executive. This has been forwarded to me for a reply due to my past involvement with your complaint.

We are sorry you are unhappy with my response, in addition to what I have already said, Nationwide has to consider the wider picture of costs to the Society and as a sensible business we want to make the best use of our members' money. This is not a decision we have taken lightly, but we are confident that making minor changes to products will enable Nationwide to remain a strong and robust business in the current climate.

Regrettably, we are unable to help any further with this matter, so if you remain unhappy, your next step is to refer your complaint to the Financial Ombudsman Service, we will of course assist the Ombudsman with any enquiries he may make.

Yours sincerely
Helen Savage Executive Assistant



However, I would still asked you to please drop an email to Nationwide's CEO to say you are not pleased /annoyed/ etc. Graham.Beale@nationwide.co.uk

[johncar54]

Just had some bad news

The money we put in the account to be drawn (without any changes) at an ATM with the Visa logo, in Phil cost I believe 200 P per withdrawal.

I have spoke to Nationwide who were about as helpful as a a toothbrush for washing the Forth Bridge.

I will send an email to their ECO (yet again, he will be getting fed up with me) and report anything useful.