Nationwide hikes charges for overseas spenders
The mutual confirmed that from Monday 8 October, overseas debit card transaction fees will rise from 2% to 2.75%.
This means on an average €100 transaction, users will be charged £2.42, up from the £1.76.
Withdrawals from ATMs come with a £1 charge on FlexDirect, FlexAccount and FlexBasic accounts, which Nationwide said will remain unchanged.
However, customers with the FlexPlus card aren’t charged ATM usage fees abroad, and there are zero fees on purchases made with the Select credit card, and zero overseas usage fees on Youth products (FlexOne, FlexStudent and FlexGraduate).
A Nationwide spokesperson, said: “Nationwide regularly reviews its fees and charges and from time to time we have to make changes to ensure we can continue to run a fair and sustainable business.
“The change will remain competitive in the market and will see the Society move in line with the other main current account providers. Members will also continue to benefit from VISA’s competitive exchange rate when spending abroad.