Nationwide kills cheap overseas spending for all its customers
Nationwide has sent an embargoed announcement on major changes to its Flexaccount bank account. Martin Lewis, creator of consumer revenge site www.MoneySavingExpert.com and its sister cheap travel site www.TravelMoneyMax.com, comments:
“Credit card loading is a nasty hidden fee Nationwide has bitched about other banks levying, yet from November, even this mutual has decided to add a stealth charge for the million-plus holidaymakers who use it overseas.
“The solution is simple: anyone who has its debit card purely for taking on holiday needs to ditch and switch. They should then sign up for one of the specialist cheap foreign spending credit cards, which bizarrely will still include Nationwide. The very best of these is the Halifax Clarity card, which is load-fee worldwide and has low fees. Get one only for use abroad, then set up a direct debit to repay in full at the end of the month to minimise interest.
“This isn’t an error by Nationwide, it’s actually trying to kick nearly a million customers out of the door. That’s because of its 3 million plus account holders, only 1.4 million use the debit card overseas and 900,000 of those use the account only for that and nothing else and that costs it. So Nationwide wants them gone to ensure it’s focusing on the people using their account ‘properly’, as it sees it.”
Full info on the top overseas cards at www.travelmoneymax.com
Watch Nationwide’s ‘no overseas charges’ video