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Last day to use your NW debit card for....


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I had a discussion with Santander over this question of whether you can preload a credit card. Their take on it was that the act of preloading would have no effect on the interest charged on cash withdrawals. I was told the only effect of putting the credit card into credit would be that the overall credit card limit would effectively be increased by the amount of the preload.  Now whether is is correct is another question?

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[quote user="Llantony"]Yes but I don't think any of us plan to withdraw

cash with a credit card.

With a debit card, it's a £1 fee every time plus 2% so you save a small

amount by withddrawing the maximum rather then small amounts.[/quote]

I think that is what pouyade was investigating... unless I misunderstood the posting.

[quote user="pouyade"]I have just got us the new Halifax clarity credit cards which have no charges. I called Halifax and they said that, if I withdrew CASH on the CREDIT card and paid off the card (via our online bank account) immediatley there would be no charges. Would this not work on the nationwide card?

Pouyade[/quote]
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[quote user="DerekJ"][quote user="Llantony"]Yes but I don't think any of us plan to withdraw cash with a credit card. With a debit card, it's a £1 fee every time plus 2% so you save a small amount by withddrawing the maximum rather then small amounts.[/quote]

I think that is what pouyade was investigating... unless I misunderstood the posting.

[quote user="pouyade"]I have just got us the new Halifax clarity credit cards which have no charges. I called Halifax and they said that, if I withdrew CASH on the CREDIT card and paid off the card (via our online bank account) immediatley there would be no charges. Would this not work on the nationwide card? Pouyade[/quote][/quote]That's how I read it, Derek.  If you have a nil balance on your credit card then I reckon if you used it for cash then went straight home and paid that much to the card then you might well get away with, at the very least, just one day's interest which would be pretty minimal, imo.  Certainly better than the Nationwide debit card now.

For purchases I now use my Capital One card, which also give a reasonable exchange rate and no standing charge per transaction and make the transfer from the Nationwide each month.  I haven't tried the Poyade theory out but I may well be tempted to do so with a small amount to start with, just to see what happens.

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Once, when I accidentally preloaded my NW credit card (misdirected a transfer), I was initially told that there was no way to recover it other than spending it and that despite now being heavily in credit I probably would still be charged a withdrawal fee if I took it back as cash from the ATM. They weren't sure though so on the firm understanding that they would refund any charges I did a test withdrawal which proved that the fee was indeed charged.

Eventually though they did find a way of moving it to my Flex A/C which is where it was supposed to have gone in the first place.

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I stuffed my NW credit account full of cash when I went off walking in Spain just in case I couldn't get to the internet and in case of emergencies.  However, I wouldn't dream of using the card for cash withdrawals as all cash withdrawals, as far as I understand it, constitute a NO-NO.

Just don't even dream of going there, please!  It's not worth it!!!!!

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I don't understand sweets, why load the credit card and not just keep it in your Flex A/C, there would have been little practical differential in terms of accessibility. OK the £300 daily limit on the Flex A/C might have proved insufficient in an emergency but how much can you potentially draw daily on the credit card, up to your limit ?

I fancy not as I can't really see an ATM spewing out those sort of sums in one hit.

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Well, Erns, I was also providing for the OH to go mad with MY credit card.......yes, yes, I know, it was to salve my conscience at leaving him for so many weeks on his own and he isn't one of the lucky people with an NW credit card!
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Well, I remembered this a bit late (had lots of other things to worry about) and withdrew 320 euros on 30th and again on 31st October. I've just looked at the bank statements online and they are both dated 2nd November! I guess that means I didn't beat the charges.

Oddly enough, money withdrawn on 27th came up on the statement on 28th with a note 'withdrawn on 27th' , ut this did not happen the 2 later withdrawals.
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[quote user="AnOther"]

how much can you potentially draw daily on the credit card, up to your limit ?

I fancy not as I can't really see an ATM spewing out those sort of sums in one hit.

[/quote]

 

I know what you mean ANO, but it is surprising the national differences.  The French ATM gives the option of withdrawing 20, 40, 60, 80,100€ at a time - plus of course the option to enter another amount.  In Germany - which historically has always been a cash driven economy - the standard withdrawal amoutns are 10 times that - so 1000€ is offered by the ATM as a standard withdrawal amount!

In the UK I always felt well offf with more than a tenner in my pocket - in the knowledge that any bigger amount could be paid with a credit/debit card.  And althoughthings have improved greatly regarding acceptance of such cards here, I still feel twitchy with less than 100€ as float.

 

 

 

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[quote user="Llantony"]Well, I remembered this a bit late (had lots of other things to worry about) and withdrew 320 euros on 30th and again on 31st October. I've just looked at the bank statements online and they are both dated 2nd November! I guess that means I didn't beat the charges. Oddly enough, money withdrawn on 27th came up on the statement on 28th with a note 'withdrawn on 27th' but this did not happen the 2 later withdrawals.[/quote]

Llantony, I think you should challenge NW about this if they tried to charge.  Tell them you were aware they were imposing charges and that that was why you withdrew the money.

After all, they do always give the rate of exchange at the TIME and DATE of withdrawal.  I have withdrawn money on my and my OH's cards within minutes of each other and had been given different rates of exchange.

Be very firm and tell them that you SPECIFICALLY withdrew money to beat the deadline that THEY have imposed.

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Yes, I too noticed that the cash I took out on the Sat 30th did not get taken out until after the witching hour, though it was defintely recognised the same day, as I check the available balance each time I've done it.  In fact, it was so late arriving onto the statement, that I mistakenly forgot to allow for it and transferred more than I should have to the savings and thus inadvertently made myself overdrawn for a few days until I looked again.  I too will be sending letters if I find that they charge me!

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I have found yet another reason for giving up on NW.  I am in the process of emptying our accounts and, for reasons of ease, I wanted to transfer the OH's account into mine.  Honest, it's with his express permission!

Guess what, doing it on-line, you can only transfer £1000, yes £1000 at a time.! So, out with the card reader, go to Payments & Transfers, choose the right account/person, confirm that's what you want to do, enter the grand sum of £1000, card in reader, press the blue tick, enter code, enter ref number, enter amount (don't forget to press OK after each entry), write the code into the computer screen.  Now start again from "out with card reader.....etc etc etc)

Tedious?  You bet but I was determined to do it one grand at a time and not pay them a penny by asking them to transfer by CHAPS.  In the end had to enlist help of OH to do the card reader bit whilst I stayed with the computer screen.

I am pretty sure you used to be able to transfer £10 000 at a time.  In other words, they are just making it harder for you to get at your own money.

Time to buy luxury cars, houses, holidays, boats, whatever, folks!  Just do not leave your money in NW.

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  I'm following the same route with Nationwide Sweet...

I too specially made a cash withdarawal on Oct 31st and heigh- ho, the drop in ' available balance' immediately showed that 2x max daily withdrawal had gone through our account.  A  few days later there we are, detailed deduction dated Nov 4 AND 'interest' charges applied. I phoned them and asked why and said it must be a mistake etc etc . Lady who took my call was very pleasant, went off to ask a superviser and came back and said the charges will' in this special case' be recredited to the account but it would take 5-7 working days.  At least it's coming back.

 

Have emailed you Sweet- but do take a cuppa with you- I've rambled- sorry!

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Sit up and take notice everybody who took money out last weekend.  If they charge interest, just say you are a friend of Suej and that SHE didn't have to pay!  LOL!

Say you're on a French Forum and that the dastardly practices of NW have been noted there and that you are all emptying your accounts!

That'll put the wind up them and, even if it doesn't, it'll make you feel better![;-)]

Suej, PM for you....

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[quote user="sweet 17"]

Sit up and take notice everybody who took money out last weekend.  If they charge interest, just say you are a friend of Suej and that SHE didn't have to pay!  LOL!

[/quote]

If that happens and I don't get the interest re-paid, I'll be changing

banks, in spite of the inconvenience.  I've changed banks for less than

that!

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Looks like not everyone paid heed to my posting including myself, mind you it was a bit late to have written it on the last day [:)]

[quote user="Chancer"]

If you take out money on your Nationwide card today whilst the debit will be pré-autorisé immediately the sum will not be debited for a couple of days even a few weeks in extreme cases according to your French bank.

So regretfully I suggest that filling your boots today will be a false economy, of course the exchange rate may drop in which case it may not be or it may continue to rise.

You have to ask yourself, do I feel lucky? - Well do you punk? [:P]

[/quote]

I am pleased that some of you have had the charges reversed, I still think the Nationwide is the best building society for customer service despite the changes.

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Sweet 17

I think, well almost sure, that the limit for transfers is £10000, not £1000. In fact about 3 weeks ago I had to transfer a six figure sum from NW to another account and I contacted NW to see how much the limit was and was advised it was £10000. Therefore I did numerous individual transactions up that limit and it all went through alright.

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Thank you, Ceejay.  I tried 10k and it came back with a message to look at their limits and the limits said 1k

It's done now, though it took me forever.  It annoyed me hugely especially as it was NW to NW and the money was instantaneously transferred.

Won't have any money left in either account soon so it's unlikely that I will have this scenario again!

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Sweet 17

Sorry you had no joy with the transfer. I have just checked the NW web site and it could be that the limit you quoted was due to an internal transfer. The web site clearly states that the limit for transfer out of NW is up to £10000. All purely academic now!!!!!

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Isn't that just a bit of nonsense though, Ceejay?  So, you can transfer 10k outside of NW but only 1k within it!

I'd have thought it would be "safer" and therefore more "logical" for the higher amount to be, as it were, kept within the Building Society rather than for it to go to another institution?

But, what do I know; I am only the lowly customer.

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One more negative comment and I swear I will no longer even mention the name Nationwide.

I have notice that they have recently put up the cost of a CHAPS payment from £20 to £25.  That's just so's you pay more for transferring money OUT of your account, I guess.

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We're now staying with Caxton, which suits us as we don't have to pay extra when flying with Ryanair 6 times each year. I'm also now thinking of having one pension paid directly into CA, probably my state pension, so that the cash is there for taxes, electricity bills etc without having to make any transfers.
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