Time to swap your Nationwide account

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04 Jan 2011 00:00 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

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 Checking out the Norwich & Peterborough website today, shows that the current account is now offering free overseas ATM withdrawals and debit card use, if you pay in more than £500 per month.

My application has just gone in, bye bye Nationwide .

Mark

P.S. If you are considering switching from NW to N&P and you have a legacy account, don't forget to leave £100 in it so you can vote at the AGM and if it ever demutualises, receive your bucks!!



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04 Jan 2011 22:56 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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Well sussed, Mark!  

I see also the Gold Classic current a/c, the one you're talking about, gives customers free protection for our cards with key & lock replacement too. Check it out here.

We, too, may well be changing. We've used XE.com on Mark's suggestion the last trip, worked well.

Thanks Mark.



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05 Jan 2011 17:49 by CostaChris Star rating in Yorkshire and Arroyo.... 39 posts Send private message

 I've already opened a Gold Classic account which was very easy and completed in a couple of weeks just before Christmas.

As Mark said I'm maintaining a Nationwide up until the Nationwide AGM so I can try and vote out the directors that have scrapped the free European cash withdrawals. If I have a vote I might as well use it. I understand from other Forums that there is a large group of customers, unhappy with the changes, who intend to use their votes in a similar way.

 



This message was last edited by CostaChris on 05/01/2011.



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06 Jan 2011 21:02 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

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 Got the email today to say we have our account, just have to send in proof of address for the both of us :). Hope to be up and running in the next 10 days. We are also taking advantage of the account moving service, £50 if not done in 10 days!!

Mark



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07 Jan 2011 21:11 by Daveline Star rating in Lancashire & Orihuel.... 42 posts Send private message

Thanks Mark ,

 

we too have had our account opened.

 

Bye Bye Nationwide !!!

 

Dave





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08 Jan 2011 01:13 by tonynault Star rating in Stockport & Cox!. 92 posts Send private message

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 Do we know if N&P give you the headline bank exchange rate as NW does? 





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20 Jan 2011 16:26 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

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 So our account is now open, all quite painless, debit cards have arrived and we have online banking  All that remains is to see what rate they give on ATM withdrawals when I next visit (hopefully February).

Mark



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20 Jan 2011 18:48 by Norm de Plume Star rating in North Tenerife and L.... 152 posts Send private message

I've replaced my NW account with a Citbank euro account.  Free to use and commercial rate of exchange.

Very satisfied so far.

I too shall make use of my vote at the NW AGM to vote against the present regime.





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29 Jan 2011 11:46 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

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 I asked the question in the end and received the reply that the society uses the tourist rate on overseas transactions .

Mark



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30 Jan 2011 01:15 by Getting Older Star rating in Midlands / Los Galla.... 43 posts Send private message

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Norm de Plume have you actually withdrawn any cash yet and if so which bank's ATMs did you use? I've just read the Citibank info & it says other banks may charge a fee for withdrawing. Am guessing it is probably ok as that is a generic condition, but there are no Citibanks anywhere in the area so I want to be sure it's free before applying.

If free, it looks like the answer, as N&P is only the tourist rate.

 

Thanks.





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31 Jan 2011 18:36 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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Two members discussing the rate on another forum say they've been told by N & P that it's Visa rate so pretty much commercial rate, which is what I'd expect anyway. One quoted  'I drew 20 euros and it showed up as £16.66' & he was talking about withdrawing that two weeks ago, worked out at 1.20



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01 Feb 2011 12:35 by El Alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

Hi I retired my Nw Flex last year. I took up with a Halifax Clarity Card. Yes it is a credit card. But with no fees either end for withdrawing Euros fro an ATM. The only fees are if you do not pay in full by the request for payment.

I used my Clarity at the Cam Bank last week.

I checked my online statement on my return to UK to find that I recieved an exchange rate of 1.1745

With no charges.

Sounds Good to me.

I also use a Caxton FX Global Traveller Card. Good rate but not quite as good as the Clarity Card.

JB



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01 Feb 2011 12:44 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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Hi JB

We also now have a Halifax Clarity credit card but you DO incur interest @ 12.92% from the day you withdraw euros from an ATM till the day they receive payment, not as you said, see http://www.halifax.co.uk/creditcards/conditions_7785.asp but yes, other than that it's free.



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01 Feb 2011 14:20 by El Alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

I have used it 3 times now & never been Charged.

Last week druw

Last week drew €330 at the Cam and paid today £281.55  So No Charge?

Overview

The Clarity card is our newest credit card and has one simple interest rate of 12.9% APR representative variable, however or wherever you use it.

What's really exciting about Clarity is that there are no usage fees:

 No fee to transfer a balance
 No cash withdrawal fee
 No fee to use it anywhere worldwide
 No annual fee.

That's it, it really is that simple!

We're giving you even more reason to apply:

We are offering a bonus cashback reward on any balances you want to transfer in the first 90 days. So if you have any balances on a card with a higher rate you can make a double saving. Firstly, benefit from having lower interest payments and secondly, for every balance that you transfer when you first open your account you will get a 2% cashback reward (up to a maximum of £60).

To benefit from the 2% cashback on balance transfers offer:

  • Transfer a balance to your Clarity credit card and you will get 2% cashback credited to your account. This offer applies to balances transferred in the first 90 days and is available to new customers only.
  • The maximum cashback value is £60, so if you transfer a balance of more than £3,000 your cashback will be capped at £60.
  • The cashback amount will be applied within 30 days of the balance transfer being added to your account.

 



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01 Feb 2011 14:27 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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Wait till you receive your statement, JB!  It'll be added to that.

But THEIR interest on cash withdrawals is the cheapest I've come across, Santander ZERO credit card charge more than double! 27.9%!! 

http://www.halifax.co.uk/creditcards/conditions_7785.asp show you

3.4 We calculate interest we charge on your average daily balance and charge it to your account on each statement date.  The interest rates shown above are calculated by compounding the interest we charge each month over one year.  The simple interest rates (not including interest being charged on interest) are:-

  Balance transfers 12.20% per annum
  Cheques 12.20% per annum
  Cash advances 12.20% per annum
  Purchases  12.20% per annum


 


 



This message was last edited by morerosado on 01/02/2011.

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01 Feb 2011 14:31 by El Alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

Money Insider: Halifax's Clarity card offers no-fee foreign withdrawals

 

 

By Andrew Hagger
 

Saturday, 17 July 2010

 

 

despite credit card providers writing off up to 10 per cent of outstanding balances as bad debts, there is still a huge choice of credit card deals out there, offering a confusing array of introductory deals with numerous interest rate and fee combinations.

 

That's why it was a refreshing change to see the launch of the new Clarity credit card from Halifax last week. It's simply a good value, no nonsense product which stands out from the majority of the market.

There are no confusing interest-free introductory offers for purchases or balance transfers; instead, Halifax is aiming for a longer-term relationship with customers by offering straightforward value. What is particularly good is that there are no cash withdrawal or foreign loading fees for those who like to use their credit card overseas. Typically, a £100 cash withdrawal abroad can cost you almost an extra £6, by the time you take into account a 3 per cent withdrawal fee plus a foreign loading fee of typically between 2.75 per cent and 2.99 per cent.

At 12.9 per cent, the Clarity card's APR for purchases is well below the market average of 18.4 per cent, and the cash rate of 12.9 per cent is less than half that charged by many high-street rivals. While 12.9 per cent is the typical rate, bear in mind that some people with a less-than-perfect credit record may be offered the card at a slightly higher rate of 17.9 per cent or 21.9 per cent APR.

If you are someone who doesn't clear their balance every month, then one of the many cards offering a 0 per cent introductory deal on purchases or balance transfers may be a more cost-effective option. Halifax's Clarity card is a back-to-basics product and likely to prove a big hit with holidaymakers in the coming months, providing the opportunity to withdraw cash overseas without having to shell out a small fortune in costs.

It's also good to see Halifax customers being given the opportunity to earn a further £5 bonus per month, simply by spending a minimum of £300 per month on their card.

If you take out the current account and the credit card, you can potentially earn £120 per year in return for your loyalty, a strategy that could well pay dividends for bank and customer alike



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01 Feb 2011 14:36 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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NB   IN RED   BELOW!

Money Insider: Halifax's Clarity card offers no-fee foreign withdrawals

 

 

By Andrew Hagger
 

Saturday, 17 July 2010

 

 

despite credit card providers writing off up to 10 per cent of outstanding balances as bad debts, there is still a huge choice of credit card deals out there, offering a confusing array of introductory deals with numerous interest rate and fee combinations.

 

That's why it was a refreshing change to see the launch of the new Clarity credit card from Halifax last week. It's simply a good value, no nonsense product which stands out from the majority of the market.

There are no confusing interest-free introductory offers for purchases or balance transfers; instead, Halifax is aiming for a longer-term relationship with customers by offering straightforward value. What is particularly good is that there are no cash withdrawal or foreign loading fees for those who like to use their credit card overseas. Typically, a £100 cash withdrawal abroad can cost you almost an extra £6, by the time you take into account a 3 per cent withdrawal fee plus a foreign loading fee of typically between 2.75 per cent and 2.99 per cent.

At 12.9 per cent, the Clarity card's APR for purchases is well below the market average of 18.4 per cent, and the cash rate of 12.9 per cent is less than half that charged by many high-street rivals. While 12.9 per cent is the typical rate, bear in mind that some people with a less-than-perfect credit record may be offered the card at a slightly higher rate of 17.9 per cent or 21.9 per cent APR.

If you are someone who doesn't clear their balance every month, then one of the many cards offering a 0 per cent introductory deal on purchases or balance transfers may be a more cost-effective option. Halifax's Clarity card is a back-to-basics product and likely to prove a big hit with holidaymakers in the coming months, providing the opportunity to withdraw cash overseas without having to shell out a small fortune in costs.

It's also good to see Halifax customers being given the opportunity to earn a further £5 bonus per month, simply by spending a minimum of £300 per month on their card.

If you take out the current account and the credit card, you can potentially earn £120 per year in return for your loyalty, a strategy that could well pay dividends for bank and customer alike


 



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01 Feb 2011 14:38 by El Alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

OK thanks for that.. I will report back when the statement arrives.

JB



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01 Feb 2011 14:48 by El Alamillo Star rating in Nottingham & El Alam.... 219 posts Send private message

HI marksfish

Yes I am wrong. Just  checked back statements and yes interest added after payment made.

Musy be age setting in.

Regards JB



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01 Feb 2011 14:51 by morerosado Star rating in Guardamar del Segura.... 7678 posts Send private message

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Definitely age as I posted to you, not Marksfish! Ha Ha!



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