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Nationwide current account |
pmerryman
Joined: Jun 02, 2004
Posts: > 500
From: Oldham,Uk
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I am thinking of opening an account with the Nationwide, to take advantage of the(no fees for using your card abroad)
Has anyone got 1 of these accounts?
It mentions in the text about the account, that you dont get a debit card straight away. How long does it taqke befor you get a debit card.
Any info, much appreciated.
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soulframe
Joined: May 23, 2003
Posts: 225
From: London
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Hi there.
I've been with Nationwide for almost 20 years now. Had a Flex account for maybe 15 years.
I have to say they are very good.
I used to have have debit card a while ago, but was downgraded to a cash card because of my circumstances.
I think if you have a average credit score you shouldn't have any problems getting a debit card.
They are a little stricter than the other high street banks, but still good customer services and as you said, the no fees for withdrawing money abroad is quite good.
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masseur
Joined: Jan 03, 2003
Posts: > 500
From: Sydney, London
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aren't these "no fees" usually offset by crummy exchange rates though?
its certainly how the tourist exchange places work that offer "no commission"
and I'm a bit puzzled. I do have a Lloyds debit card and assumed everyone over 16 could have them, certainly my kids both got one as soon as they turned 16. Am i wrong in believing debit cards are no credit risk as you cannot pay for anything more than the funds available in your account? If thats not the case and you can go overdrawn with a debit card I'd better check on my kids!
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pmerryman
Joined: Jun 02, 2004
Posts: > 500
From: Oldham,Uk
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I thought that you got a better rate by drawing money direct from the bank, so this gets rid of the crappy exchange rate?
On 2008-05-28 13:49:42, masseur wrote:
aren't these "no fees" usually offset by crummy exchange rates though?
its certainly how the tourist exchange places work that offer "no commission"
and I'm a bit puzzled. I do have a Lloyds debit card and assumed everyone over 16 could have them, certainly my kids both got one as soon as they turned 16. Am i wrong in believing debit cards are no credit risk as you cannot pay for anything more than the funds available in your account? If thats not the case and you can go overdrawn with a debit card I'd better check on my kids!
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masseur
Joined: Jan 03, 2003
Posts: > 500
From: Sydney, London
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if you are abroad paying in euros or dollars or whatever, and you're account is in sterling, then somewhere down the line there has to be a conversion applied
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pmerryman
Joined: Jun 02, 2004
Posts: > 500
From: Oldham,Uk
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I thought if you used a bank to withdraw, you got a better exchange rate?
If I was to just use the account for say holidays, would the bank be best pleased, or would I have to make regular transactions. |
haynesycop
Joined: Mar 10, 2004
Posts: > 500
PM |
You can go overdrawn with a debit card even if the facility isn't there, i remember it happened to me when i was around 17. I went overdrawn by like a £1 and they let me off, most banks give you around a £10 wave if you just go over and you don't have an overdraft facility on your account, that was with Lloyds too.
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kenoby
Joined: Dec 17, 2007
Posts: 407
From: 404
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On 2008-05-28 14:19:30, masseur wrote:
if you are abroad paying in euros or dollars or whatever, and you're account is in sterling, then somewhere down the line there has to be a conversion applied
It goes by bank's currency rate applied for the time you are changing, so no charge for that. They charge for withdrawing, about 3-5 Euros.
@pmerryman, best way to be sure is to compare Nationwide's exchange rate with some other banks to be sure. If you are traveling a lot, it is a great way to save some money if that is true.
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pmerryman
Joined: Jun 02, 2004
Posts: > 500
From: Oldham,Uk
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I just want to use the account for holidays really and nothing else, but I was wondering how they would be with me, for making say only 1 trasaction a year. |
max99
Joined: Nov 24, 2004
Posts: > 500
From: Manchester (@ Uni)
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i managed to go overdrawn by £200 on a debit card once, duno how/why it let me was odd. Maybe as it normally had a lot of cash in it !
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kenoby
Joined: Dec 17, 2007
Posts: 407
From: 404
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@ pmerryman, if it is only for holidays, there's no need to change the bank. It's only important that the card is Visa Electron or Maestro, they're accepted everywhere, at least where I've been.
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pmerryman
Joined: Jun 02, 2004
Posts: > 500
From: Oldham,Uk
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The thing is. Nationwide do not charge for using the card abroad as many banks do. |
kenoby
Joined: Dec 17, 2007
Posts: 407
From: 404
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I understand you. Sorry if I sounded ignorant. Check the current exchange rate for the bank you are using now and Nationwide to know the difference because as Masseur said, it is a bit awkward that there is nothing for them in it. If they are not taking on service, they must be taking on currency change.
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Posted: 2008-05-28 12:39
