Nationwide is to start passing on the charge made by Visa on foreign transactions from 6 May. It is currently 0.84% and goes up to 1% on 1 July. Nationwide has paid this charge in the past. This works out currently at £4.20 per £500.
This only applies to transactions outside Europe.
http://www.nationwide.co.uk/creditcard/goldcard/foreigntransactions.htm
luci
It's not much Luci - but it's still another extra charge, added together with all the others it will amount to a significant sum.
I guess it had to come eventually we have had it good with the Nationwide for a long time. Must have had my card for years and only ever use it on holiday suprised they haven't got fed up with me before.
I've been with Nationwide since 1977, and must say I have never been able to fault them. I hope this isn't a sign of things to come though.
Hopefully not Helen they are normally pretty solid. I just guess it's a bit cut throat out there in the building Society and Banking sector and they are trying to claw back some money.
I just hope they don't start this procedure with the Nationwide Flex account card
It says they will be applying it to debit card transactions as well from June - booooo!
Miss_Chief1 wrote:I just hope they don't start this procedure with the Nationwide Flex account card :think
If you read the article it says it applies to both credit and debit card transactions.
luci
It does also give a list of which countries charge it though, and many don't.
yippee spain doesn't!
Turkey doesnt charge either.
I just hope they don't start this procedure with the Nationwide Flex account card
This is a debit card and they state that they will also be charging to use this from June. I'm off to Dom Rep in August and we will be charged there. Lucky we're AI so won't need to use it much.
Such a shame.....I guess it's due the credit crunch plus all those people who only have either the credit or debit card for holidays, I knew that at some time they'd get wise to it and those who only occasionally use it would mean us longstanding Nationwide current account holders would suffer along with the rest
is Lanzarote counted as Spain? I know its classed as non eu at the airports!
I will keep using it though as I like to keep holiday spends seperate from bill money - so I dont spend it all
I have been looking around and from what I can see the Post Office card does not charge any fees for worldwide transactions. Anyone used the Post Office credit card?
purchases overseas. In the finer detail it goes further and says 0% on cross border fees for any transaction. Unfortunately their standard fees include a 2.5% (minimum £3) fee for all cash advances plus interest from the date of transaction until you pay it off - so not so good for using at cashpoints abroad! The big problem is that all these fees are variable so could change tomorrow. Also the cards are provided by the Bank Of Ireland, who are Eurozone based so their interest rates are likely to be higher than a UK based issuer.
I've got one and never heard of this, I've just checked their conditions and it does say 0% commision on
chivas69, Lanzarote isn't listed sepeartely neither are the Canary Islands, or the Balearic Islands, so I reckon they're classed as Spain - I hope so!
The fees you quote are for cash advances using a credit card, not a debit card, and they have always been in place as you are effectively borrowing the money.
luci
Luci
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