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[endure]

Anyone from the UK given the Nationwide the heave in favour of someone else bearing in mind the need to transfer small monthly amounts to a Thai bank? I've just had a letter from the NW telling me they want to close a couple of my Flexaccounts because I haven't used them for a while. It's no problem keeping them open by transferring a bit of cash into them but I get the feeling that the NW rather I just sat in a corner and acted like all the other sheeples. Woe the day that Accountant Beale took over!

[Darrel]

If you are looking for a cheap way of making transfers, Halifax at GBP9.50 seems to be a favourite.

[champken]

And if you are looking for a UK based account to withdraw from then as i have done switch to Norwich and Peterborough, and use aeon atms

[PattayaParent]

Are you looking for a current account or savings account?

Onshore or offshore?

Edit: why not merge the 'couple of flexaccounts' into 1 account that will be used regularly?

Edited October 10, 2011 by PattayaParent

[Darrel]

And if you are looking for a UK based account to withdraw from then as i have done switch to Norwich and Peterborough, and use aeon atms

On the surface the N&P card seems to be good, but there are rules that you have to follow to actually use the thing for free. You can't just get one and use it (or not use it) as you wish, unless you don't mind paying a small monthly fee for it, or paying in at least a certain amount each month.

MetroBank on the other hand has no special rules about its card.

[champken]

And if you are looking for a UK based account to withdraw from then as i have done switch to Norwich and Peterborough, and use aeon atms

On the surface the N&P card seems to be good, but there are rules that you have to follow to actually use the thing for free. You can't just get one and use it (or not use it) as you wish, unless you don't mind paying a small monthly fee for it, or paying in at least a certain amount each month.

MetroBank on the other hand has no special rules about its card.

5 transactions a month is all you need to keep it free of charges, so tranfer money in once a month and use an atm four times or whatever way you want to do it

[PattayaPhom]

N&P is a montly deposit of 500 Pounds..that gets you free withdralws worldwide...as stated Metro is another option but limited number of branches.

[Darrel]

5 transactions a month is all you need to keep it free of charges, so tranfer money in once a month and use an atm four times or whatever way you want to do it

I am aware of the rules; that's why I mentioned them. I would rather not have to remember to use a card 5 times, as there are many months when I would not need/want to do this. There are also months when I might use it 50 times, but not every month.

The GBP500 requirement for the current account is also annoying as my income can vary by a factor of 20 from month to month, depending on which coupons/dividends are paid that month, and N&P dont have any linked accounts paying a decent rate of interest. I would have to set up a standing order from another bank to the N&P account for GBP500, and another one back again to avoid losing interest. Which is just too much hassle for me really.

MetroBank also has no decent interest-bearing account to link with a current account, and that puts me off using them to an extent.

[nong38]

I gave NW the heave hoe and moved to Metrobank, good service so far. Charge £17.50 or a swift, but put a trace on to seed where the money was and no charge. Can only take £300 per day out, so you may need to plan. I go inside the bank with the card and passport, there are no charges. Metrobank mainly inside the M25 at the moment. I recommend them.

[fletchsmile]

Have run into the dormant bank account problem myself too in different countries. Unfortunately they often doesn't specify what time period governs when they become dormant/frozen, and it also differs bank to bank, although few are less than 6 months.

For most banks a simple answer is to have 2 (or more) accounts with them in the same place, then just transfer a small balance from one to the other online, this keeps both accounts "live", and should be fine for as little as a single dollar, pound, euro etc every few months.

Obviously if you pick a special account which requires certain numbers of transactions/amounts for certain benefits that's a different issue and you need to play by the rules you sign up for. But for the simple issue of avoiding accounts become dormant or frozen 2 beats 1!

[endure]

The reason I have multiple Flexaccounts is that it gives me multiple ATM cards as a disaster recovery plan. I don't think there's any alternative to Nationwide without extra hassle. Nationwide is my main bank. I didn't join them specially to get the advantages that they offered for ATM withdrawals but they seem to be withdrawing all the advantages one by one. You used to be able to get Sterling traveller's cheques for £3.50 delivery charge - no commission. They used to have an agency branch round the corner from me but they shut them all down last year. If I want to pay a cheque in now it's a 20 mile trip to the nearest branch

Edited October 10, 2011 by endure

[PattayaParent]

^in that case keep 1 Nationwide account and open up an account at a different bank.

Or get a credit card as your disaster recovery backup.