This is the reply I got from Nationwide (it's so secret that they would only send it by the secret mail, so don't disclose any the delicate info. !!!!!!! Who do they think they are kidding ? )
May I suggest that everyone who thinks this is nuts, complains to Nationwide.
FROM NATIONWIDE
Dear Member,
Thank you for your message.
Nationwide has carried out a strategic review of its’ Basic Bank Account offering. In 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. 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. Also, our offering for the Basic Bank Account gives us an account which better matches the needs of the market.
*Based on industry figures – UK Plastic Cards 2009, Apacs
As a prudent organisation, Nationwide has to consider the wider picture of costs to the business. There are costs associated with paying the acquirer bank fees for cash withdrawals abroad. 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.
Regards,
Internet Services
My reply:-
I am sorry but this is rubbish. If a person wants/needs a Debit Card then that is the card they will opt for.
By abolishing Cash Cards, call that action by any name, but that is what you will be doing. You are seeking to save money, plain and simple. If a customer wants a Debit Card they can ask for one. If they ask for a Cash Card then that is what they want otherwise they would ask for a Debit or Credit card. Or do you think your customers are too stupid to be able to ask for what they want, because that is what your expalination amounts to?
So why not be honest and tell us that you want to save money at the expense of your long standing customers who just want a cash card?
Originally Posted by johncar54
... but nonetheless, find this statement hard to believe!
