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Free Nationwide Flex Account Travel Insurance

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greenman


Joined: 16/02/2008
Posts: 526

Message Posted:
18/08/2010 13:09

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Message 1 of 32 in Discussion

From 2 August 2010 customers using Nationwide Flex Account are receiving free travel insurance providing you are under 75 as of 1 November 2010, and pay over 750 per month into your account (This criterion does not apply to customers under 21) The policy provides for multi trips in Europe of up to 31 days.



kathsj


Joined: 25/06/2009
Posts: 72

Message Posted:
18/08/2010 16:41

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Message 2 of 32 in Discussion

BUT...what does it cover? Luggage? Medical? Strikes? Diving? Would be far better leaving their overseas transaction rate alone and putting on to that the 750 pcm minimum. Not everyone wants a "basic" insurance. Have contacted them twice in the last 3 weeks and have not had the courtesy of an acknowledgement let alone a reply. Come November they could well be losing a lot o customers. I am one of them.

Kath



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
18/08/2010 18:00

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Message 3 of 32 in Discussion

kathsi. If you go on Nationwide website you can read the policy, it covers everything other policies cover. You can read all the details about the new regulations covering withdrawal of money from an ATM. It says you will be charged for all withdrawals abroad for currencies OTHER THAN STERLING. I e-mailed Nationwide and got a reply same day, I asked about the sterling and they confirmed what it said. If you have a joint account with 750 going in but not from other Nationwide accounts then it covers both of you, if it is a single account then it only covers the owner of the account but it can be added to, my account qualifies but my husbands doesn't so I have added him to my account (on condition he doesn't use it). Credit card purchases will not be charged abroad but withdrawing money will.



HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
18/08/2010 18:09

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Message 4 of 32 in Discussion

As of the 1st November they will be charging for all purchases abroad on your flexi and other cards - I know which one I would choose. I have saved more than the amount of annual travel insurance by being able to purchase here without a charge which I have to pay on my Lloyds TSB account.



nostradamus


Joined: 15/04/2008
Posts: 557

Message Posted:
18/08/2010 18:11

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Message 5 of 32 in Discussion

Yes, I've read the policy and what it DOESN'T cover is anybody who is living permanently outside the UK!



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
18/08/2010 18:25

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Message 6 of 32 in Discussion

msg 5. It is what it says Holiday travel insurance, can you purchase insurance from the UK to cover you living permanently anywhere else?



laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
22/08/2010 14:48

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Message 7 of 32 in Discussion

Hi Woodspeckie, just read above post - does this mean that, after November, I can still take money out from Flexi account here, without charge, as long as we take it out in Sterling? I have always taken out TL (didn't know that I had a choice) - is there an option on ATMs to do this?



leapylee


Joined: 21/03/2010
Posts: 83

Message Posted:
22/08/2010 17:19

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Message 8 of 32 in Discussion

I read the small print yesterday and you are only covered for 31 days away from home!!!



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
22/08/2010 19:20

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Message 9 of 32 in Discussion

laptagal. You can get Sterling at the HSBC kiosk near the Dome taxi rank, we get it there and then go to the exchange to change to TL. I had a chat with one of the girls in Nationwide yesterday, she wasn't aware you could get Sterling abroad, but we have done this for the past 6 year in NC and twice a year in Turkey, she checked again the wording on the changes to the account and confirmed with the Manager that yes you can get Sterling without charge.



HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
22/08/2010 19:56

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Message 10 of 32 in Discussion

as of 1st Nov you will be charged every time you withdraw any cash or spend anything on with your Nationwide Flex Account. Mine will not be used after that date, I will revert to using my Lloyds TSB as they also charge so what is the difference.



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
22/08/2010 21:10

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Message 11 of 32 in Discussion

msg 10. Nationwide charges are less than any other bank. No charge on a Credit card when used abroad. I will carry on getting my sterling from HSBC.



cypgab


Joined: 09/01/2010
Posts: 338

Message Posted:
22/08/2010 21:38

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Message 12 of 32 in Discussion

.. and they don't cover existing conditions without notification and an extra cost - just for information so that nobody assumes ...



Are you sure Woodspeckie - my Halifax clarity card doesn't charge transaction fees, Nationwide now do - as I understand it!



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
23/08/2010 11:22

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Message 13 of 32 in Discussion

cypgab. Some existing conditions are covered by the free insurance without extra cost as they are with other insurers, I have checked this out, there is a number to ring. If you do not declare any existing conditions and any medication you are taking if you have to make a claim and you have not declared them it invalidates the insurance. I should have said the charges made by Nationwide are cheaper than charges made by other banks, no doubt there are certain accounts with other banks who don't charge.



nostradamus


Joined: 15/04/2008
Posts: 557

Message Posted:
23/08/2010 13:34

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Message 14 of 32 in Discussion

Message 10: there still is a difference between Nationwide and other main stream bank accounts.. Nationwide will give you a money market rate of exchange, most of the others will give a diabolical rate meaning that you will be whacked about 2-3% extra without this necessarily being obvious. I have done this exercise, drawing 300TL with an HSBC card and the same amount with a Nationwide card and, excluding charges for using the ATM, the withdrawal from HSBC cost 8 GBP more. I've never used the HSBC card since.



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 14:23

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Message 15 of 32 in Discussion

Woodspeckie msg 9



I phoned a customer adviser this morning, explaining the situation of having the choice of GBP, Euro or TL at the ATM there, and after confirming with a manager she told me that whatever currency is withdrawn, as the ATM is outside the UK then charges would apply.



Which one is correct, your contact or mine?



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
23/08/2010 16:32

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Message 16 of 32 in Discussion

Dusterbruce. First I e-mailed the head office and the reply I got was "a charge will be made for withdrawals abroad other than sterling" that is what it says on the website so the answer I got confirmed it. I also asked in my local branch the assistant I spoke with said she didn't know you could get sterling abroad but when I told her we get in it NC and twice a year in Turkey from HSBC ATM she went to check it out with a Manager who then came and said "no charge for Sterling".



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 17:42

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Message 17 of 32 in Discussion

Stalemate then, one says yes, t'other says no.



We will have to wait and see what happens on Nov 1.



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 17:49

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Message 18 of 32 in Discussion

Woodspeckie



Have you a name for the person who is giving you this information, and which branch is it please?



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 17:54

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Message 19 of 32 in Discussion

The wording from the person that I spoke to was 'it is from an ATM abroad, whatever currency is withdrawn'



Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
23/08/2010 21:02

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Message 20 of 32 in Discussion

Dusterbruce. Go on the website http://www.nationwide.co.uk click on Flexi account it takes you to another page on the right hand side it says changes to flexi account click on there you will find the charges and the wording currencies other than sterling.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
23/08/2010 21:10

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Message 21 of 32 in Discussion

This is how it is worded on their website - We will introduce a commission charge and a cash withdrawal charge for transactions in currencies other than sterling. These will still be among the lowest in the market and will replace the existing 1% fee for transactions made outside the Visa Europe region.



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 22:29

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Message 22 of 32 in Discussion

I am quite aware what is said on the website and also what was said in the paperwork I received last week from Nationwide.

I am also aware that TWO Nationwide officials have now told me that withdrawals from an ATM outside the UK, whether in GBP, Euros, Tunisian Dinars, Irsaeli Shekels or whatever will incur the new charges.

I am not saying that anyone on this board is wrong, all I am trying to do is to pass on the information that I have received!



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
23/08/2010 22:32

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Message 23 of 32 in Discussion

Looks like we will just have to wait and see.



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
23/08/2010 22:46

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Message 24 of 32 in Discussion

I received a document through the post last week from Nationwide entitled ' We're making some important changes to your current account'



On page 5 there is a section entitled 'Using your card abroad'



Commission charge for non-UK transactions = 2.00% of the transaction amount.



Non-UK cash withdrawal charge (as well as the commission charge) 1 for each withdrawal.



Now I read this as being a transaction outside UK and not for a transaction using non-UK cash.



laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
24/08/2010 17:24

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Message 25 of 32 in Discussion

Thanks for the above - agree that we will have to wait and see what happens in November. On a different note (but trying to address the same problem) does anyone know if our UK company pensions can be paid by BACs into an account in TRNC?



wings


Joined: 25/06/2010
Posts: 152

Message Posted:
24/08/2010 20:37

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Message 26 of 32 in Discussion

Well done all they'll now review the sterling withdrawal policy!



Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
24/08/2010 20:42

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Message 27 of 32 in Discussion

A friend read somewhere that they are introducing these charges to get rid of account holders who use only for free overseas withdrawals because they are unprofitable, even with all the interest free deposits they produce.



westender


Joined: 14/05/2009
Posts: 328

Message Posted:
24/08/2010 20:53

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Message 28 of 32 in Discussion

Re message 27, that's what I was told in my local branch. Only people who use the account as their main one will get the free travel insurance, ie have their wages/pension paid in and pay their bills.

They were trying to tell me I would be better off with the insurance but I already get it with my HSBC account!



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
11/11/2010 12:48

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Message 29 of 32 in Discussion

Has anybody made a stirling cash withdrawal using their NW card since the 1st of November in NC and been charged commission?



batgirl


Joined: 04/02/2009
Posts: 676

Message Posted:
11/11/2010 13:06

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Message 30 of 32 in Discussion

Used it three days ago,went home and checked online-got 2.25tl /

nothing about charges as yet



MrsSnakes



Joined: 19/12/2008
Posts: 1100

Message Posted:
11/11/2010 14:32

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Message 31 of 32 in Discussion

Thanks Batgirl.



nicka


Joined: 06/11/2008
Posts: 76

Message Posted:
11/11/2010 14:48

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Message 32 of 32 in Discussion

So i presume you withdrew tl batgirl ?

Has anyone withdrawn sterling yet and checked if there were any charges ?



Thanks in anticipation



Nick



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