Nationwide Flex Account-how Do I Get More Accounts ?

[Khun Bob]

I guess many members here know that the UK Nationwide Flex is the account to have for withdrawing money abroad as it gives nearly interbank rates and there is no loading or currency conversion charges - i beleive there is a small charge for the use of the ATM but not 100% on that. Bottom line is if you have cash in a uk account it is the cheapest way to withdraw at an atm in thailand.

Well, I know members on here have flex accounts and i would like to tap your knowledge. A couple of years ago i was told by a nationwide employee that i could have as many accounts as i wanted. I'm not looking for credit, cheque facilities, just cheap atm withdrawls. Any way it seems i have hit my limit at 5 accounts, and now from limited research it seems that the most people generally have is 3. Last time I tried visiting a branch and what a waste of time that was - i lost more than i gained (I had my 2 online logons consolidated) and didnt get another account despite having a very credible and slightly true reason for requesting it ! The branch application tactic is pointless as all they do is use the online application and introduce an extra layer of branch staff to deal with. Plus mere members of the society cannot talk to the (Hi-so) underwriters who decide whether they want to give it to you or not in order to justify your need not someone elses interpretation of it - doesnt matter how long you been with them, how much money you have with them or how good your credit rating is. The computer says "NO".

I even tried getting another investdirect account, with the intent of getting a second logon so then i could apply for more flex accounts that way - failed the staff were too diligent - i need to find a branch with some good monkies (ie bored and not interested) next time to pursue this, but i dont know if it will work. I beleive the first time i got a second logon was by doing an internt application and when it didnt show up on my list of existing accounts requested online access - hey presto second online logon - but nationwide dont like this..

Anyway after all that - what I would like to know is how people get more flex accounts ie more than 5 - what works and what doesnt (i'm beginning to find this out allready)

Sadly it is only the flex acoount card that can be used abroad, if the investdirect card worked i'd be singing...

[JimmyGreaves]

I guess many members here know that the UK Nationwide Flex is the account to have for withdrawing money abroad as it gives nearly interbank rates and there is no loading or currency conversion charges - i beleive there is a small charge for the use of the ATM but not 100% on that. Bottom line is if you have cash in a uk account it is the cheapest way to withdraw at an atm in thailand.

Well, I know members on here have flex accounts and i would like to tap your knowledge. A couple of years ago i was told by a nationwide employee that i could have as many accounts as i wanted. I'm not looking for credit, cheque facilities, just cheap atm withdrawls. Any way it seems i have hit my limit at 5 accounts, and now from limited research it seems that the most people generally have is 3. Last time I tried visiting a branch and what a waste of time that was - i lost more than i gained (I had my 2 online logons consolidated) and didnt get another account despite having a very credible and slightly true reason for requesting it ! The branch application tactic is pointless as all they do is use the online application and introduce an extra layer of branch staff to deal with. Plus mere members of the society cannot talk to the (Hi-so) underwriters who decide whether they want to give it to you or not in order to justify your need not someone elses interpretation of it - doesnt matter how long you been with them, how much money you have with them or how good your credit rating is. The computer says "NO".

I even tried getting another investdirect account, with the intent of getting a second logon so then i could apply for more flex accounts that way - failed the staff were too diligent - i need to find a branch with some good monkies (ie bored and not interested) next time to pursue this, but i dont know if it will work. I beleive the first time i got a second logon was by doing an internt application and when it didnt show up on my list of existing accounts requested online access - hey presto second online logon - but nationwide dont like this..

Anyway after all that - what I would like to know is how people get more flex accounts ie more than 5 - what works and what doesnt (i'm beginning to find this out allready)

Sadly it is only the flex acoount card that can be used abroad, if the investdirect card worked i'd be singing...

How do you manage to get 5 cards anyway. I would be happy with 2

[endure]

To get two all you need to do is explain that you use your ATM card overseas a lot and you're worried about it being swallowed. When I said this THEY suggested I open another Flexaccount and set esavings up so I could shift money from one to another if needed. I've only got 2 accounts though. Can I ask why the OP needs more than 5?

[Khun Bob]

To get two all you need to do is explain that you use your ATM card overseas a lot and you're worried about it being swallowed. When I said this THEY suggested I open another Flexaccount and set esavings up so I could shift money from one to another if needed. I've only got 2 accounts though. Can I ask why the OP needs more than 5?

Hah - do you work for natiowide ? Because thats the same response i got from them.

All i want to know is how people with many accounts have got more and what results they have had - what has worked and what hasnt.

I have a feeling this thread will have a short life - but if anyone does know - dont keep it to yourself - what have you got to lose - the Nationwide is supposed to be for its members - only sometimes "they" forget that...

[samran]

to be honest, my best guess is because of money laundering concerns. We all know that the UK has clamped down on ID requirements for bank accounts, to the point where it almost impossible for someone to actually get an account without proof of 500 year heritige in the British Iles (well not quite, but getting there).

To have 5 debit cards to me would ring alarm bells. Why do you need them all for? Are others using these cards and are you giving them access to your accounts, bypassing the strict security and ID requirements.

Quite simply, the processes could be made a mockery of.

Now please be clear, I am not judging you. I know that for many people the Nationwide ATM card is a lifesaver for those people with family here and for those with normal means who don't want to be ripped off by Western Union or afford the continual charges of other banks.

But, at the end of the day, the bank has strict statuatory and regulatory guidelines which it must follow. Flouting of those rules, intended or otherwise would provide the appearance to the authorities that something might be amiss.

You might find that your request on this one, may be that one extra 'thing' which pushes the life of the fee free nationwide card a little closer to the end.

Just my two cents/pennies and baht.

[endure]

To get two all you need to do is explain that you use your ATM card overseas a lot and you're worried about it being swallowed. When I said this THEY suggested I open another Flexaccount and set esavings up so I could shift money from one to another if needed. I've only got 2 accounts though. Can I ask why the OP needs more than 5?

Hah - do you work for natiowide ? Because thats the same response i got from them.

No, I don't work for them. It was a genuine question.

[Totster]

When I inquired about the same thing (i have 2 accounts already) they did say that it does depend on credit scores and whether they actually think you need another account. There is more to it on their side than just opening another account for you.

totster

[daleyboy]

To get two all you need to do is explain that you use your ATM card overseas a lot and you're worried about it being swallowed. When I said this THEY suggested I open another Flexaccount and set esavings up so I could shift money from one to another if needed. I've only got 2 accounts though. Can I ask why the OP needs more than 5?

SAme with me, opened 2 accounts and esavings.

[nostrel]

4 here , but maybe they are worried about carpetbaggers in the future .Nationwide could offer free shares and a big payout

[Khun Bob]

From phone calls to nationwide it appears to be based on credit score, usage of existing accounts and as samran pointed out the 'need' for a further account. I just wondered what experience other people had - there are ways to get further accounts and the official line is that there is no limit on the number of accounts that a person can have.

I was looking for information other people in my situation may have gained in the process of requesting further accounts.

Admins - please feel free to close this thread if deemed to be unsuitable.

[Khun Bob]

You might find that your request on this one, may be that one extra 'thing' which pushes the life of the fee free nationwide card a little closer to the end.

Just my two cents/pennies and baht.

Nationwide have made a long term commitment to fee free foreign usage and is one of their Key Selling Points - I regularly ask if there are any changes afoot - but allways get told no and it is unlikely to happen.

If they did change it now - I wouldnt like to be considered the person that broke the camels back - Nationwide would face significant member complaints and I'd get banned and flamed from TV !

Still for those that are interested in this and other topics i have raised recently here see moneysavingexpert.com - overseas usage debit and credit cards - seems on credit cards nationwide has been trumped by the post office and they are more living abroad friendly than nationwide is !

[Khun Bob]

And the answer is 4...

This is an internal, unstated externally number... unless you persist in asking

However, if you can make a suitable case they will allow more than 4 ...

Guess I'm just lucky that I got as many as i could when i did - this includes joint accounts too - and joint accounts may be better as you get 2 cards - handy just in case the card gets lost, pin forgotten, card expires and nationwide wont send direct and so on

Oh and if you claim your bank charges back as being unlawful then nationwide will 99% close your account even if it is their mistake - watch out - this is the only UK account I am aware of that gives fee free withdrawls in non-uk atms !

Edited January 20, 2007 by Khun Bob

[topfield]

I guess many members here know that the UK Nationwide Flex is the account to have for withdrawing money abroad as it gives nearly interbank rates and there is no loading or currency conversion charges - i beleive there is a small charge for the use of the ATM but not 100% on that. Bottom line is if you have cash in a uk account it is the cheapest way to withdraw at an atm in thailand.

Well, I know members on here have flex accounts and i would like to tap your knowledge. A couple of years ago i was told by a nationwide employee that i could have as many accounts as i wanted. I'm not looking for credit, cheque facilities, just cheap atm withdrawls. Any way it seems i have hit my limit at 5 accounts, and now from limited research it seems that the most people generally have is 3. Last time I tried visiting a branch and what a waste of time that was - i lost more than i gained (I had my 2 online logons consolidated) and didnt get another account despite having a very credible and slightly true reason for requesting it ! The branch application tactic is pointless as all they do is use the online application and introduce an extra layer of branch staff to deal with. Plus mere members of the society cannot talk to the (Hi-so) underwriters who decide whether they want to give it to you or not in order to justify your need not someone elses interpretation of it - doesnt matter how long you been with them, how much money you have with them or how good your credit rating is. The computer says "NO".

I even tried getting another investdirect account, with the intent of getting a second logon so then i could apply for more flex accounts that way - failed the staff were too diligent - i need to find a branch with some good monkies (ie bored and not interested) next time to pursue this, but i dont know if it will work. I beleive the first time i got a second logon was by doing an internt application and when it didnt show up on my list of existing accounts requested online access - hey presto second online logon - but nationwide dont like this..

Anyway after all that - what I would like to know is how people get more flex accounts ie more than 5 - what works and what doesnt (i'm beginning to find this out allready)

Sadly it is only the flex acoount card that can be used abroad, if the investdirect card worked i'd be singing...

Hi KunBob,

Not sure if this helps as your question refers to both cards AND accounts.

Well you can get Cash cards they are red in colour and work on a totally different system namely Cirrus/Mastercard. The forex rate ? Some testing showed sometimes better, sometimes worse than the blue Visa card.

The ONLY drawback of the Nationwide cards of course is that you can never be certain of the rate you will get when you make the ATM withdrawal.. If you take some totally commission free 500 pound travellers cheques which are available from every Lloyds bank branch then at least you have total control of the timing of any exchange.

PS I have suggested to N/W that they go over to the Citibank ATM system where they show the exchange rate on the screen and ask whether you wish to proceed. No luck as N/W dont even know the rate themselves ! They are billed the next day by Visa !!

[bendix]

PS I have suggested to N/W that they go over to the Citibank ATM system where they show the exchange rate on the screen and ask whether you wish to proceed. No luck as N/W dont even know the rate themselves ! They are billed the next day by Visa !!

I can't believe that N/W didnt seem interested in taking the advice of such a learned financial expert like yourself topfield. Were you advising a bank teller, perhaps, or did you send your proposal to the board of directors? It seems remarkable that they didnt do as you wished.

Edited January 21, 2007 by bendix

[topfield]

PS I have suggested to N/W that they go over to the Citibank ATM system where they show the exchange rate on the screen and ask whether you wish to proceed. No luck as N/W dont even know the rate themselves ! They are billed the next day by Visa !!

I can't believe that N/W didnt seem interested in taking the advice of such a learned financial expert like yourself topfield. Were you advising a bank teller, perhaps, or did you send your proposal to the board of directors? It seems remarkable that they didnt do as you wished.

Thanks Bendix, I did indeed propose the adoption of the Citibank ATM system to their Customer Service Dpt but it was not possible as the official Visa rate is altered when Visa debits N/W and this occurs once or twice a day . They explained how the rate we get is calculated .

Please go to :

http://corporate.visa.com/pd/consumer_serv...HB&rate=0.0

[bendix]

whoooooooooooooooosh!

[Khun Bob]

PS I have suggested to N/W that they go over to the Citibank ATM system where they show the exchange rate on the screen and ask whether you wish to proceed. No luck as N/W dont even know the rate themselves ! They are billed the next day by Visa !!

I can't believe that N/W didnt seem interested in taking the advice of such a learned financial expert like yourself topfield. Were you advising a bank teller, perhaps, or did you send your proposal to the board of directors? It seems remarkable that they didnt do as you wished.

Thanks Bendix, I did indeed propose the adoption of the Citibank ATM system to their Customer Service Dpt but it was not possible as the official Visa rate is altered when Visa debits N/W and this occurs once or twice a day . They explained how the rate we get is calculated .

Please go to :

http://corporate.visa.com/pd/consumer_serv...HB&rate=0.0

Excellent - good work topfield - now i have a second refernce for the amount nationwide will charge as they seem to be ommitting it now for both cash (red) and visa (blue) cards on the detailsed online statement. Some time ago i did get the exchange rate for red cards but it was alot of hassle and natiowide had to requuest a fax from maestro/cirrus network. Of course, once you know the amount you have been charged in GBP you can manually work out the exchange rate.

4 refers to accounts - so if you have 4 joint accounts you can have up to 8 cards

This is a seperate topic really - and i have tried to get some info from the forum on this - I just wonder if anyone can give experience og having their nationwide card swiped in a thai bank and having the cash put into their thai bank account ? I know this is good for larger amounts and from some of the posts people have commented that the bank can quote an exchange rate aswell. Whether the exchange rate quoted is the actual exchange rate gained and if this is comparable/better/worse than the atm rate I dont know. But cost wise for certain amounts it will be cheaper than bank to bank transfer fee's from the UK to Thailand (In some other european countries fees are a lot less and certain banks allow low fee transfers to their Thai presence)

Anyone know where to get the current/historic rates for the nationwide red cash cards ?

Edited January 23, 2007 by Khun Bob