As pointed out before Luci, it reads from credit or store cards, doesn't say cash from your account.

Funny how we all get obsessed with exchange rate and commission though. 2% for the bank on £1000 is , I'm sure we all know, £20. A fair price for security or a cheek that they have sat on my money for a whole year to give me less than that in interest ?
On the other hand by delaying 24 hours in booking my holiday it cost me another £116 to which I shrugged and thought it could have gone the other way, that's life !

Don't forget the £1 fee per transaction as well! That makes it at least £24.

I don't think it's the 2% per se as that's just another 1% outside Europe as things stand. I think it's a cumulation of things such as no longer paying interest on the FlexAccount, derisory rates on e-savings, customer service gone from excellent to poor, etc.

I think this is just the straw that broke the camel's back.

luci

I could of course put it another way.

Papa

DaveWales wrote:

As pointed out before Luci, it reads from credit or store cards, doesn't say cash from your account.

That's not how I read it.

7.7 You must not make payments (or transfer funds from another credit or store card) to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money was sent.

I have put in brackets to show how I read it. If you take out the bit in brackets it states that "You must not make payments .... to your account that would leave a credit balance on your account."

Perhaps we will have to agree to disagree on this one.

Just for the record, you are allowed to credit a Nationwide credit card and then withdraw cash on it, although they would prefer that you didn't. However there is a 2.5% (£3 minimum) fee for cash withdrawals.

luci

It now seems that you will have to pay a couple of hundred rupees to use an ATM with a non Indian card

Rob from children walking tall.......

I have just tried to get some money out of a ATM today and I first went to a HDFC ATM which displayed a message along the lines of

"Any non Indian cards will be charged 200 for any withdrawal on top of any standard charges.!

As many others have said including me.

Back to cash because there is always competition to give the best rate for pound notes.

Not as much security carrying cash but I will certainly find a way to keep my money safe.

The thing is these accounts were not making Nationwide any money and after all all businesses have to make money.

Papa

Papa wrote:

The thing is these accounts were not making Nationwide any money and after all all businesses have to make money.

Papa

That may be the case for those that only used the FlexAccount for holiday money. However there are many that used it as their main account and probably had other savings accounts which did make them money.

luci

3 years ago i switched to the Nationwide, bank account and credit card, solely for the purpose of saving costs on travel abroad.
i may look for other options if they are to withdraw this facility.

J