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Nationwide Building Society has issued a stark warning about “fees and charges” to its members ahead of the summer break. In a crucial update, those with plans for a global getaway were given the scoop via email about potential costs when using cards overseas.
They emailed their customers: “Heading off on holiday this summer? Find out about fees and charges for using your card abroad, what to do if your card stops working, and more. You might also want to consider an account with no Nationwide fees abroad.”
The alert highlighted that certain Nationwide debit cards carry a non-sterling transaction fee of 2.99 per cent on foreign purchases, excluding FlexPlus, FlexStudent, FlexGraduate, and FlexOne account holders. Similarly, cash withdrawals made abroad in a foreign currency attract the same charge, save for the aforementioned accounts.
Moreover, for transactions involving cash withdrawals in foreign currency on UK soil, customers won’t face fees at LINK machines or over-the-counter services. However, they will be subjected to the 2.99 per cent transaction fee at non-LINK cashpoints, although once again, the specific account exemptions apply.
For credit card users, the sting is a 2.5 per cent transaction fee, subject to a minimum of £3, reports the Liverpool Echo.
In addition to these fee updates, Nationwide alerted its customers about the risk of festival and ticket fraud during the season, advising caution about unverified sellers, stating: “It can be tempting to use an unfamiliar website to make sure you get tickets to a sold-out event. But you need to make sure it’s not a scam.”
People are advised to ensure that any ticket sellers they deal with are members of the Society of Ticket Agents and Retailers (STAR) to safeguard their money. It’s also recommended to conduct thorough research before making a purchase, ask pertinent questions, and be aware of any rules, particularly those concerning refunds.
Paying by credit card is deemed safer, as issuers share liability for a failure to provide goods or services. This applies to single tickets priced between £100 and £30,000.
It’s also advisable to check with your card provider regarding the duration of the liability period.
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