Flex account, we have been ripping the ar5e out of it.

[Russethouse]

I agree with all of the things written about client service - but if you were Jo Bloggs living in 'middle England' with investments  with a company that offered a free service of some kind when other companies charged for it, might you not feel that you could get a tad more interest or better deal if the company fell into line with others ? What percentage of NW customers live abroad ? What was there percentage of their investments as a percentage of NW holdings ?

 NW probably think they are adding value with the insurance deal - we might think they are wrong but thats another matter.

[NickP]

RH wrote: What percentage of NW customers live abroad ?

What is your obsession of people who live abroad? It affects people who live in the UK and go abroad for their holidays. I wonder what the percentage of UK based NW customers is; who go to France, Spain or Portugal for their hols and want to use an ATM to get their spending money out?

[Department71]

Just been up to Metro Bank in Fulham and opened a current account with them, we confirmed with them before proceeding that withdrawals in Europe were fee free and no loading was put on the rate, once confirmed we continued to open the account. We got our new debit card there and then, cheque book comes in a few days through the post.

We will still be using a Nationwide credit card for purchases whilst in France. as it is deferred credit. The  money we used to put in Nationwides Flexaccount  now goes into Metro, but we'll keep our Flexaccount open for now with just a small amount in there.

Metro Bank said they have had a lot of people opening accounts that have transferred from Nationwide due to their new terms.

We will see how they perform.

Steve

[cooperlola]

I guess it's more a case of how many customers who used their cards regularly abroad, were loyal customers who paid in their regular salaries to their account, and how many just kept these accounts cash withdrawals abroad and nothing else. 

What irritated me about the way this was done was the fact that I have banked with them for years.  I have had a mortgage with them, have never defaulted on a payment or once overdrawn, and pay in a good deal more each month than their minimum, and yet the "compensation" for withdrawing this facility is not available to me as a non-UK resident.  Even so, NW is still relatively cheap, it's still a Building Society not a bank so I reluctantly have to admit that they have few rivals I would rather give my money to, in spite of this particular move.  

It would be interesting to know how many valuable accounts (eg those who pay in on a regular basis, long-term savers and borrowers, mortgage holders etc) have left the Nationwide as a result of this move.

[Russethouse]

[quote user="NickP"]

RH wrote: What percentage of NW customers live abroad ?

What is your obsession of people who live abroad? It affects people who live in the UK and go abroad for their holidays. I wonder what the percentage of UK based NW customers is; who go to France, Spain or Portugal for their hols and want to use an ATM to get their spending money out?

[/quote]

The ones that live abroad are the ones doing the complaining ! The ones that live in the Uk have the option of changing to another UK institution with a better deal, taking advantage of NW's insurance offer (no matter what anyone thinks of it, it exists) or lumping it.

 

[NickP]

[quote user="Russethouse"][quote user="NickP"]

RH wrote: What percentage of NW customers live abroad ?

What is your obsession of people who live abroad? It affects people who live in the UK and go abroad for their holidays. I wonder what the percentage of UK based NW customers is; who go to France, Spain or Portugal for their hols and want to use an ATM to get their spending money out?

[/quote]

The ones that live abroad are the ones doing the complaining ! The ones that live in the Uk have the option of changing to another UK institution with a better deal, taking advantage of NW's insurance offer (no matter what anyone thinks of it, it exists) or lumping it.

 

[/quote]

Can you justify that statement or do you just think that we should believe it because you say so? 

[cooperlola]

Nick, people who live in the UK can certainly move their accounts, we cannot.  That is a fact (with very few exceptions such as offshore and international banks etc).  Whether expats moan more or not....[Www]

[Russethouse]

Well Nick, I'm entitled to my opinin just as you are - the people I see moaning most about the change are here, and I'm not unsympathetic, but the fact is that things change all the time and either consumers vote with their feet or they embrace  ( 'put up with') the changes.

NW probably think they are misunderstood and and are advertising to redress the balance, who knows they may even change their minds or conditions may change and they do a volte face

From what I have read lately on this, it might not be such a good deal as it was before, but using NW can still be quite competitive.

As far as I know the conditions that exist the day anyone moves to France, and the conditions that probably formed part of the decision making process are not frozen in aspic. It's just like Ryan Air closing the airport closest to you, or your Uk pension age going up at short notice if you are a woman......

[cooperlola]

..or stopping the early retired from joining CMU...[Www]  (Where's Norm?)

 

Having said that, R/H, I do have a number of friends in the UK who come here for the race and to whom I have recommended NW in the past for just this reason.  They were pretty p**d off too!

[Russethouse]

but they are in a better position to move to another organisation that suits them better......

 

[Benjamin]

[quote user="cooperlola"]  

It would be interesting to know how many valuable accounts (eg those who pay in on a regular basis, long-term savers and borrowers, mortgage holders etc) have left the Nationwide as a result of this move.

[/quote]

Slowly and with timescales that suit us, we are actively ditching Nationwide.

I've said this before on here but I'll repeat it again; if you have paperless banking try asking for an actual statement. They'll charge you a fiver for a "duplicate" statement when you've never had an original!

As for "mutuals" being run for the benefit of "members", those days are long since gone.

[NickP]

RH wrote: Well Nick, I'm entitled to my opinin just as you are - the people I see moaning most about the change are here,

Well thats a surprise as this is a French Forum. [Www] I don't live in France by the way; although I do own a house there. It not your opinion that I object to, its the generalisation that has no foundation.

[Russethouse]

You are assuming I never look at other forums or media - careful, we all know what assuming does.....[;-)]

[cooperlola]

I'm too old-fashioned to ditch paperless statements, Benjamin - especially with the cost of printer ink![:)]

If I put my money in a bank, can I vote (or not) for those who run it?  Or do I have to buy shares and turn into a (filthy[:D]) capitalist?

[NickP]

[quote user="Russethouse"]You are assuming I never look at other forums or media - careful, we all know what assuming does.....[;-)][/quote]

I never assumed anything you offered the following information,  the people I see moaning most about the change are here,

I replied to that statement, so don't let's move the goal posts RH [:P]

[DorothyJ]

Like Benjamin, we are withdrawing our money out of  Nationwide as and when it suits us. We have already moved the instant access savings account from them to another company and when our substantial ISAs come up for re-investment in July we shall look again for another bank or BS. We have pensions paid  weekly into Nationwide which I then transfer to another, apart from a few pounds. So I hope they are really fed up with us just as I am with them. We live in England but spend a great deal of time in France where we have a house - plus spending time in Sweden where our daughter and grandchildren live.

I am doubly cross with N/wide as we started out as Portman BS members which was local to us and we always found them really competitive but they sold out to Nationwide and that was that. We now use Caxton, adding to it when the rate seems reasonable;  not much chance of that at the moment!

[crossy67]

Please excuse my laziness I am sure the answer is in here somewhere but there are 30 pages of this.

Which UK bank account is a good one for us now then?

Again, sorry for being a lazy so & so :-(

[cooperlola]

[quote user="crossy67"]Again, sorry for being a lazy so & so :-(
[/quote]I should think so too![:D]

Norwich & Peterborough

Metro Bank

Halifax

are the three which posters have mentioned who do free cash withdrawals abroad.  What their exchange rates are like, I do not know - the Nationwide's advantage is and always has been that they use bank rate.

[crossy67]

Thanks Coops.  I shall go shopping for a new account as soon as I get a minute. 

[tinabee]

The latest from Nationwide

https://www.nationwide-members.co.uk/online-talkback/online-talkback-questions?filterby=Banking/Credit cards

 

 

[Doodle]

For anyone that's not already aware, Yorkshire Building Society is talking of a merger with the Norwich and Peterborough to eventually become the largest building society in the UK (probably not so difficult as there aren't that many BSs left) so it could be worth waiting to see what happens. I'm with the Yorkshire and it is not possible to draw money abroad on a YBS atm card you can only do an on-line transfer. Would this apply to the N&P if the merger goes through? who knows.

Chris

[Kitty]

[quote user="tinabee"]The latest from Nationwide https://www.nationwide-members.co.uk/online-talkback/online-talkback-questions?filterby=Banking/Credit cards [/quote]

Thanks for the link, Tina.  Here is a quote from the Nationwide:

"The majority of our FlexAccount holders do not live or spend a

large percentage of their time abroad and will only travel abroad

for short holidays. "

So presumably that is why they have introduced free travel

insurance - there will not be much take-up for it.  Nice one, Cyril. [Www]

 

[Judith]

[quote user="Cathy"][quote user="tinabee"]The latest from Nationwide https://www.nationwide-members.co.uk/online-talkback/online-talkback-questions?filterby=Banking/Credit cards [/quote]

Thanks for the link, Tina.  Here is a quote from the Nationwide:

"The majority of our FlexAccount holders do not live or spend a

large percentage of their time abroad and will only travel abroad

for short holidays. "

So presumably that is why they have introduced free travel

insurance - there will not be much take-up for it.  Nice one, Cyril. [Www]

 

[/quote]

Nice one indeed!  I'm beginning to thnk that they are trying to get all those who are not UK resident to take their money away from NW.

I get a feeling as I read the NW forum that they think their account is much better than most current accounts in the UK, so it's funny that many of us managed for years by not being clients of NW.  Customer service it is not, I am thinking, as just about the only advantage of being with NW has now been removed for me, and I have no loyalty when it comes to banks.  If they provide the service I want, I stay, if they don't I move. The only thing now of use to me is the credit card, and that is the only reason I'm staying for the mo (and the hassle of changing everything which is not so easy to do from France!).

[tinabee]

Just received my voting form for the Nationwide AGM - what do people think is the best way to make a protest vote?  I am pretty sure it won't make a blind bit of difference, but it might make me feel better for a couple of minutes [6]

[5-element]

Tinabee, thank you for asking that question I too have received my voting form, would like to know what others, much better informed than myself, might think or know. Otherwise I will do what I usually do (for want of wisdom or knowledge), which is throw it all in the bin.[:'(]