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We joined Nationwide to get free cash withdrawals when abroad.
Now they have changed policy to give free travel insurance, which I don't want, and removed the free withdrawals, which I do. Many MHF members are Nationwide customers and there are two threads running currently because of Nationwide's change of policy. Are we a force to be reckoned with?
As Nationwide members, we have voting rights at the AGM, which is on 21st July. Members can vote by post or online to re-elect the 11 directors, none of whom has a competing candidate. You can also vote to approve their excessive remunerations.
I have expressed my disapproval of the new policy by voting against the election of all directors. I have also voted against the Ordinary Resolutions.
I think with support from MHF members, a significant effect could be achieved and Nationwide might be persuaded to listen to its members again.
How many of our members would prefer Nationwide to provide free cash withdrawals rather than free travel insurance? If you are a Nationwide member, please vote in the poll.
I would vote yes on the proviso that flex account holders adhere to the same rules in relation to travel insurance...i.e. deposit the minimum amount on a monthly basis. Not as a lot previously did, open a flex account just prior to going abroad and then expect to use the facilties of withdrawing cash at no cost. In other words, playing the system.
It was this that led to the NW abandoning the scheme IMHO.
The few ruining for the many as per usual.
Keith
______________________________________________________________ Do unto others as they do unto you,and then **** off before the law arrives.
There are only 3 things in this world worth a solitary dime, thats old dogs, and children and watermelon wine. (Tom T Hall)
I would be delighted to have free cash withdrawal instead of insurance, which I qualify for but don't want because I am covered for the first 30 days on another "free" policy.
What I object to is Nationwide's treatment of main current account holders. I have tried to negotiate with them but their attitude is "those are the rules, if you don't like them, then ....".
They say they are "Different because we are 'Your Nationwide' And that means we listen and act on your views." but in fact they are just as bad as the banks.
I would be delighted to have free cash withdrawal instead of insurance, which I qualify for but don't want because I am covered for the first 30 days on another "free" policy.
What I object to is Nationwide's treatment of main current account holders. I have tried to negotiate with them but their attitude is "those are the rules, if you don't like them, then ....".
They say they are "Different because we are 'Your Nationwide' And that means we listen and act on your views." but in fact they are just as bad as the banks.
Thanks for your response,
Brian
I agree with all your points Brian.
Nationwide could easily have put different policies in place to stop people taking advantage ie, You must have so many thousands in savings with us, you must put so much in per month, you must have been with us for a year to qualify etc.
I also "joined" Nationwide for the benefits of the FlexAccount card in withdrawing cash abroad. It was not our main bank but I did pay in around £300 every month and put in a large amount of savings using both Nationwide accounts and associated ones such as The Cheshire BS. When they announced the change in terms, I complained through their Complaints Procedure to no avail. The free travel insurance was of no use to me as I am now in the over-65 age group which cannot benefit. As has been already mentioned, The Nationwide is just like banks which operate primarily for the benefit of the senior management and their policy of taking over struggling building societies is merely to increase the size of their business so that they can pay themselves even more money. Voting at the annual meeting will be about as effective as doing the same at the Caravan Club AGM. I have now cancelled my Nationwide accounts and taken out a Halifax Clarity Credit Card (Halifax is our main bank) which has been discussed in several MHF threads previously. I used it to withdraw euros on our recent 6-week trip to Italy and by paying off the debt at the end of the month by direct debit, I only paid just over £3 in interest charges and there are no charges when using the card for other purchases abroad.
They have a few bob of hours so we got the voting forms. I phoned them up and challenged them because they only listed people they wanted to be voted ON to the board and did not list anybody else standing. I was a bit deflated when told that no other candidates had put themselves forward.
So next year COME ON LADS AND LASSIES. Lets at least have a contest!
They do seem to have changed over the past couple of years, not sure why. Sad because there are very few decent old fashioned financial institutions around. Hubby cut up his card months ago in disgust
Please don't think I am siding with the bank on this one, like a lot of NW customers, I also complained bitterly at the treatment of loyal customers when they decided to drop free usage of debit cards.
I also suggested that they could differentiate between those playing the system and loyal customers, but they did not want to know...rules is rules...was the attitude.
I stop with them because even though they do now charge, they are still cheaper than some of their high street rivals and to be honest, I get excellent service form my local branch, which I didn't from my previous 2 banks namely, Halifax and Natwest.
Keith
______________________________________________________________ Do unto others as they do unto you,and then **** off before the law arrives.
There are only 3 things in this world worth a solitary dime, thats old dogs, and children and watermelon wine. (Tom T Hall)
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Italy
