Nationwide Building Society Changes

[vid1]

You can see the changes on their website if you select Current Account from the menu at the top, then click on the left box about more info on the current account and then on Foreign Transactions (sorry, can't post the direct link on here being a newbie ).

[mxyzptlk]

You can see the changes on their website if you select Current Account from the menu at the top, then click on the left box about more info on the current account and then on Foreign Transactions (sorry, can't post the direct link on here being a newbie ).

Yes I've already seen that, but I reckon I should have been personally notified (along with other existing customers) rather than reading it on another website.

[Merangue]

For those of you unable to find it

http://www.nationwide.co.uk/current_accoun...ransactions.htm

Foreign Transactions

Nationwide continues to offer commission-free foreign transactions.

When you use a Nationwide Visa debit card or credit card to make a transaction in certain currencies other than sterling, Visa charge a fee for each transaction and Nationwide currently pays that fee on your behalf.

We will start to pass this fee onto you from 6 May 2009 on credit card and from 1 June 2009 on debit card and it will be included in the sterling amount shown on your statement.

The fee is currently 0.84%. From 1 July 2009 this fee will increase to 1%.

The list below provides details of the countries for which Visa charge a fee. To check if you will be charged, please search for the country you are visiting by using the A-Z list. Unless stated otherwise a fee will be charged.

If you have any other questions regarding these charges, please talk to an advisor at one of our branches.

Questions & Answers

• Will I be charged the Visa fee for withdrawing cash from a cash machine?Select the country you are visiting from the list below, if it is listed as "no fee charged" you will not be charged. Otherwise you will be charged the fee. Please remember if you use your credit card to withdraw cash you will be charged a cash advance fee.
  
• Will I be charged the Visa fee if I buy things from foreign websites?Select the country you are buying from, if it is listed as "no fee charged" you will not be charged. Otherwise you will be charged the fee.
  
• I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged? Your cash card is run by a different provider therefore, initially, only Visa debit transactions will have a fee applied.
  

[loong]

I'm surprised that the free withdrawals have lasted as long as they have, after all it's a fee imposed by Visa, not Nationwide, so NW are losing on every transaction.

For me personally, doesn't make any difference as I have money in my Thai Bank Account, but it used to be very useful.

Anyway, I've been unable to use my Debit card for some time now, I think it has something to do with them sending a card reader to my UK address.

[Chaimai]

I'm surprised that the free withdrawals have lasted as long as they have, after all it's a fee imposed by Visa, not Nationwide, so NW are losing on every transaction.

For me personally, doesn't make any difference as I have money in my Thai Bank Account, but it used to be very useful.

Anyway, I've been unable to use my Debit card for some time now, I think it has something to do with them sending a card reader to my UK address.

Card reader is only for certain 'value' transactions, like paying a third party. I suspect that your card is 'blocked' because of transactions Thailand being picked up by the fraud team. A 5 minute phone call should get the card unblocked.

[loong]

Thanks Chiangmai, that would make sense,but as I had been using the card 3 or 4 times every month for years in Thailand, I would be surprised if they focused on that. Maybe there was an actual attempt at a fraud.

Even with the 1% fee, it's still better than Lloyds.

On occasions in the past when I've had to use both cards as I needed more than my daily allowance, the difference between Lloyds and NW was a staggering 4%. Mind you, that was about 3 years ago.

[473geo]

Thanks Chiangmai, that would make sense,but as I had been using the card 3 or 4 times every month for years in Thailand, I would be surprised if they focused on that. Maybe there was an actual attempt at a fraud.

Even with the 1% fee, it's still better than Lloyds.

On occasions in the past when I've had to use both cards as I needed more than my daily allowance, the difference between Lloyds and NW was a staggering 4%. Mind you, that was about 3 years ago.

I would not worry yourself about attempted fraud. Systems have been introduced which automatically flag up a card address and where the usage is occuring. A letter is usually sent to the 'billing' address requesting a telephone confirmation of card use. If you are not at the address, your card will be stopped until you contact your issuer. In some cases you may be asked to take a re-issue as after a period the card may have been cancelled, for security reasons.

[loong]

Yes Geo,

I'm not worried about fraud as I have experienced it twice.

Funnily enough though on both occasions, the transaction went through and the banks contacted me as they were suspicious. I had to sign a declaration and the money was refunded both times.

I was actually able to notify the bank on one of those occasions, where the card was cloned.

I stupidly allowed the card out of my sight in a travel agency in Pattaya when buying a ticket back to the UK. They took the card into a back room and then returned saying this card no good. So I used a different card and the transaction went through.

I had not used the first account for more than a year and the card was recently issued and never left my wallet before. So I knew that it must have happened at this agency. Clever of them, not to complete a transaction on the cards they cloned, so there is no apparent connection.

[473geo]

Yes Geo,

I'm not worried about fraud as I have experienced it twice.

Funnily enough though on both occasions, the transaction went through and the banks contacted me as they were suspicious. I had to sign a declaration and the money was refunded both times.

I was actually able to notify the bank on one of those occasions, where the card was cloned.

I stupidly allowed the card out of my sight in a travel agency in Pattaya when buying a ticket back to the UK. They took the card into a back room and then returned saying this card no good. So I used a different card and the transaction went through.

I had not used the first account for more than a year and the card was recently issued and never left my wallet before. So I knew that it must have happened at this agency. Clever of them, not to complete a transaction on the cards they cloned, so there is no apparent connection.

Pleased all worked out for you - good to be reminded about these tricks though....I must admit I tend to use cards for cash supply these days...not purchases.....then again, where I go they wouldn't take cards yet anyway!!!.... .....well ok maybe in the hotels.

[Chaimai]

Thanks Chiangmai, that would make sense,but as I had been using the card 3 or 4 times every month for years in Thailand, I would be surprised if they focused on that. Maybe there was an actual attempt at a fraud.

loong - that is entirely possible. However, the banks' systems do not work to a pattern - there appears to be a random selection of card transactions and, of course, Thailand is a 'hot' country for fraud. Either way, the call would sort it out. I agree that the Flexaccount remains as good value as anyone - and the online banking is user friendly.

[Tom Kagai]

If you have nationwide online account you can print the swift payment form ,fill it in ,sign it,send it to UK to get money sent to your thai bank account.

You need to be a bit careful about this. To process a SWIFT through Nationwide, you need to present the printed and signed form in person at a branch and produce I.D., or mail it and then visit a branch with either your passport or both parts of a UK drivers license. These rules are really rigid now due to money laundering & anti-terrorism regulations.

As far as I am aware, the only way to process a transfer like this is to transfer the funds to a trustworthy UK resident and get him/her to process the SWIFT.

Note also that Nationwide also need you to identify the reason for the transfer if it is going into Thailand. That's a Thai regulation.

[loong]

If you have nationwide online account you can print the swift payment form ,fill it in ,sign it,send it to UK to get money sent to your thai bank account.

You need to be a bit careful about this. To process a SWIFT through Nationwide, you need to present the printed and signed form in person at a branch and produce I.D., or mail it and then visit a branch with either your passport or both parts of a UK drivers license. These rules are really rigid now due to money laundering & anti-terrorism regulations.

As far as I am aware, the only way to process a transfer like this is to transfer the funds to a trustworthy UK resident and get him/her to process the SWIFT.

Note also that Nationwide also need you to identify the reason for the transfer if it is going into Thailand. That's a Thai regulation.

Well according to the Nationwide website, you do not need to apply in person and can do it by post. You have to supply a telephone number so that they can contact you if necessary...From their website....

You can contact the team on 01793 654027

There is a fee of £20.00 for this service.

Please ensure you provide a correct daytime telephone number. If we are unable to contact you your payment may be delayed.

We are unable to accept post dated forms.

The mailing address will appear on the form when you print it out.

Please mail this to: Nationwide Building Society,

Payment Services – BACS Credit Team,

Nationwide House,

Pipers Way,

Swindon,

SN38 3GN

It does state in the form....

This facility is restricted to FlexAccounts. Transfers from other accounts can be conducted at a Nationwide branch.

So maybe postal applications for swift transfers can only be actioned from Flexaccounts

[Dave the Dude]

I have in the past, posted SWIFT instructions from Thailand, for funds to be forwarded to my Thai account. I did enclose a covering letter and the transaction arrived a lot sooner than initially expected with no problems. I believe ID is required when presenting a form 'in person' at a branch only, unless regs have changed recently.

Dave

[phutoie2]

I have in the past, posted SWIFT instructions from Thailand, for funds to be forwarded to my Thai account. I did enclose a covering letter and the transaction arrived a lot sooner than initially expected with no problems. I believe ID is required when presenting a form 'in person' at a branch only, unless regs have changed recently.

Dave

Dave ditto the above and in my letter I give the reason for the transfer which is strangely a requirement for Thailand. Plus after 24 hours of Nationwide sending the money I call the Bangkok Bank foreign exchange office and confirm that it is safely in my account.

There was a post a few months ago stating that Nationwide use HSBC for all swift transactions.

Edited March 9, 2009 by phutoie2

[Tom Kagai]

I have in the past, posted SWIFT instructions from Thailand, for funds to be forwarded to my Thai account. I did enclose a covering letter and the transaction arrived a lot sooner than initially expected with no problems. I believe ID is required when presenting a form 'in person' at a branch only, unless regs have changed recently.

Dave

Maybe Thailand isn't the only place where rules & regs can be a bit fluid then. Maybe the UK is heading down that track too!

I arranged a SWIFT during a 12 day visit to the UK last week. I enquired at my Nationwide branch and was told "you can download the forms from the website, but then you must present yourself at a branch with either your passport or both parts of a UK drivers licence". So, of course that is what I did.

I sincerely hope you are right, because if any future transfer I need to make can be done from LOS, it gets my vote. It might pay to check first though, by their secure email facility, as the regulations may have changed recently.

[Khun Bob]

• I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged? Your cash card is run by a different provider therefore, initially, only Visa debit transactions will have a fee applied.
  

Good post !

Anyone know or heard when Nationwide may start charging for the use of their cash card ? Seems from the link above that it will happen at some point.

[Chaimai]

• I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged? Your cash card is run by a different provider therefore, initially, only Visa debit transactions will have a fee applied.
  

Good post !

Anyone know or heard when Nationwide may start charging for the use of their cash card ? Seems from the link above that it will happen at some point.

See post #27 - assuming this is a Maestro card.

[stament]

Just a question, the charges say they will be applied if you withdraw from an ATM.

What about if you go into the Bank and withdraw money on your debit card over the counter. I'm assuming the charge stated for the ATM withdrawal would apply as per Nationwide website, but it's not clear.

Anyone know - is this a loophole?

[Merangue]

• I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged? Your cash card is run by a different provider therefore, initially, only Visa debit transactions will have a fee applied.
  

Good post !

Anyone know or heard when Nationwide may start charging for the use of their cash card ? Seems from the link above that it will happen at some point.

See post #27 - assuming this is a Maestro card.

Not a Maestro Card. A Cirrus MasterCard purely for use as a cash/Atm Card.

[loong]

Just a question, the charges say they will be applied if you withdraw from an ATM.

What about if you go into the Bank and withdraw money on your debit card over the counter. I'm assuming the charge stated for the ATM withdrawal would apply as per Nationwide website, but it's not clear.

Anyone know - is this a loophole?

You will be charged by the Thai bank, about 200 Baht if I remember rightly, haven't done it for about 3 years. You will also be charged by visa - so a double charge

[Chaimai]

See post #27 - assuming this is a Maestro card.

Not a Maestro Card. A Cirrus MasterCard purely for use as a cash/Atm Card.

Apologies, Nationwide use Cirrus. Both Cirrus and Maestro are Mastercard brands. Essentially, there are 2 main 'service provider networks' for overseas ATM withdrawals etc - VISA and Mastercard and their charges have hitherto been absorbed by Nationwide, until now.

[thaimate]

Just a question, the charges say they will be applied if you withdraw from an ATM.

What about if you go into the Bank and withdraw money on your debit card over the counter. I'm assuming the charge stated for the ATM withdrawal would apply as per Nationwide website, but it's not clear.

Anyone know - is this a loophole?

You will be charged by the Thai bank, about 200 Baht if I remember rightly, haven't done it for about 3 years. You will also be charged by visa - so a double charge

i did this a couple of weeks ago ,no charge made by the bank at all.

[loong]

Thaimate - can you please post outside of the quotes, it makes it so much easier to see what you have added - thanks

You will be charged by the Thai bank, about 200 Baht if I remember rightly, haven't done it for about 3 years. You will also be charged by visa - so a double charge

i did this a couple of weeks ago ,no charge made by the bank at all

.

It's possible that I may have only been charged because I used my Debit card to withdraw 100,000 Baht, so well above the usual daily limit. That was Bangkok Bank.

[stament]

Thaimate - can you please post outside of the quotes, it makes it so much easier to see what you have added - thanks

You will be charged by the Thai bank, about 200 Baht if I remember rightly, haven't done it for about 3 years. You will also be charged by visa - so a double charge

i did this a couple of weeks ago ,no charge made by the bank at all

.

It's possible that I may have only been charged because I used my Debit card to withdraw 100,000 Baht, so well above the usual daily limit. That was Bangkok Bank.

So is this a potential loophole to the planned ATM charges by Nationwide? Does anyone know?

Is it worth getting the cirus cash card or do you lose out on the exch rate compared to visa debit card so not worthwhile anyhow?

Thanks

[Chaimai]

[quote name='stament' date='2009-03-18 15:45:23' post='2603909'

So is this a potential loophole to the planned ATM charges by Nationwide? Does anyone know?

Is it worth getting the cirus cash card or do you lose out on the exch rate compared to visa debit card so not worthwhile anyhow?

Thanks

I will stand corrected but I don't think Nationwide now offer Cirrus cards. When I tried to apply online for another Flexaccount it only gave me the option of a VISA debit card. I also notice that HSBC have changed their debit cards to VISA.

[Merangue]

I think if you request a Cash card you can have one but you would need to actually request it.

If you already have a credit history with them they will automatically give you a debit card unless instructed otherwise.

I do think however the Cirrus card has a slightly lesser exchange rate anyway so may not actually make any real saving overall.

Edited March 18, 2009 by Merangue

[Khun Bob]

I think if you request a Cash card you can have one but you would need to actually request it.

If you already have a credit history with them they will automatically give you a debit card unless instructed otherwise.

I do think however the Cirrus card has a slightly lesser exchange rate anyway so may not actually make any real saving overall.

Mastercards exchange rates are not as good as Visa's, and it is not just for baht. But with the additional charges it is a questions of knowing what they are in advance and how much you wish to withdraw/transfer. Visa publish their rates but mastercard do not - well I havent found it publicly available...

Best to try smallish transactions then compare. Some time ago a TV member did quite a bit of very good research on the 2 Nationwide cards, timings of withdrawals and exchange rates given. Cant remember his name, but if you do a search on Nationwide related posts in 2004-2006 period ou will see him, unless those posts have been deleted...

There seems to be widely differing results on doing a visa cash advance with a Nationwide visa debit card inside the branch. But with this, it should be possible to know charges, if any, and I have heard people being informed of the exchange rate they will get prior to the transaction. If you know what exchange rate to expect then should be no surprises and simple to make the decision on whether to do or not.

If you keep an eye on exchange rates and have an inkling of what may happen to Sterling in the near future this is the best way to get smaller amounts into Thailand (say for living expenses). Of course if you need to state what the purpose of the transfer is for, the receipt you get will not be a SWIFT transfer and wont let you do that.

I'm seriously thinking of doing this next time I'm in Thailand, rather than just do ATM withdrawlas when I need the cash. Of course trying to time the transfer and exchange rates could back fire, but at the moment Sterling is stronger than it has been for a while. Still not as good as it has been, but it could well get worse, given the state of the UK's finances.

[Khun Bob]

I think if you request a Cash card you can have one but you would need to actually request it.

If you already have a credit history with them they will automatically give you a debit card unless instructed otherwise.

I do think however the Cirrus card has a slightly lesser exchange rate anyway so may not actually make any real saving overall.

Previously, if you stated you did not want a chequebook they would give you a Red cash card. You could just apply and once you have a Blue card ask to be downgraded to a Red, for some appropriate reason (dont need the Visa and chequebook facilities, as concerned at the risk of it?). The cash card account is Nationwide's basic bank account. I have seen else where that Nationwide are much more careful now on opening flex accounts as many people just have them for overseas ATM usage. They are offering current customers £50 free for transferring direct debits etc to their flex account, as an incentive to get people to use the account for their main banking facility.

Even at the 1% now levied for non EU withdrawals/transactions it is better then any other I have used.

The only other possibility is if you have an Abbery Zero credit card and pre-load this. Then is you do a cash advance, up to the amount you have pre-loaded your card (currently in credit), how can they charge interest when they already have the money. I hope to find out about this one. Need to get an Abbey Zero card first though...

[Chaimai]

I think if you request a Cash card you can have one but you would need to actually request it.

If you already have a credit history with them they will automatically give you a debit card unless instructed otherwise.

I do think however the Cirrus card has a slightly lesser exchange rate anyway so may not actually make any real saving overall.

Previously, if you stated you did not want a chequebook they would give you a Red cash card. You could just apply and once you have a Blue card ask to be downgraded to a Red, for some appropriate reason (dont need the Visa and chequebook facilities, as concerned at the risk of it?). The cash card account is Nationwide's basic bank account. I have seen else where that Nationwide are much more careful now on opening flex accounts as many people just have them for overseas ATM usage. They are offering current customers £50 free for transferring direct debits etc to their flex account, as an incentive to get people to use the account for their main banking facility.

Even at the 1% now levied for non EU withdrawals/transactions it is better then any other I have used.

The only other possibility is if you have an Abbery Zero credit card and pre-load this. Then is you do a cash advance, up to the amount you have pre-loaded your card (currently in credit), how can they charge interest when they already have the money. I hope to find out about this one. Need to get an Abbey Zero card first though...

Just a minor clarification - Nationwide now pass on the VISA charge which is currently 0.84% - there is no longer any reference on their website to the charge increasing to 1%. Still a good card and VISA does indeed seem to apply a better rate of exchange.

Could also think about pre-loading a Post Office travel card.

[pkrv]

I think if you request a Cash card you can have one but you would need to actually request it.

If you already have a credit history with them they will automatically give you a debit card unless instructed otherwise.

I do think however the Cirrus card has a slightly lesser exchange rate anyway so may not actually make any real saving overall.

Previously, if you stated you did not want a chequebook they would give you a Red cash card. You could just apply and once you have a Blue card ask to be downgraded to a Red, for some appropriate reason (dont need the Visa and chequebook facilities, as concerned at the risk of it?). The cash card account is Nationwide's basic bank account. I have seen else where that Nationwide are much more careful now on opening flex accounts as many people just have them for overseas ATM usage. They are offering current customers £50 free for transferring direct debits etc to their flex account, as an incentive to get people to use the account for their main banking facility.

Even at the 1% now levied for non EU withdrawals/transactions it is better then any other I have used.

The only other possibility is if you have an Abbery Zero credit card and pre-load this. Then is you do a cash advance, up to the amount you have pre-loaded your card (currently in credit), how can they charge interest when they already have the money. I hope to find out about this one. Need to get an Abbey Zero card first though...

Just a minor clarification - Nationwide now pass on the VISA charge which is currently 0.84% - there is no longer any reference on their website to the charge increasing to 1%. Still a good card and VISA does indeed seem to apply a better rate of exchange.

Could also think about pre-loading a Post Office travel card.

Looked up Post Office travel card - link here - not too good

http://www.dooyoo.co.uk/travel-insurance/p...rances/1104255/