Nationwide customers 'could save on current account rates'

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Nationwide customers 'could save on current account rates'

Wed 22nd Sep 2010

It is disappointing that consumers can no longer enjoy a fee-free service when utilising their Nationwide debit card abroad, a representative from Saga has observed.

The financial institution claimed that people could save money by using a Saga credit card for such transactions.

Paul Green, head of communications at the firm, explained that the account does not charge a fee for overseas use and there is no interest on cash withdrawals, as long as they are paid back within 55 days.

He suggested this latter feature sets Saga apart from many other providers, noting that many Nationwide customers may be "disaffected" by the news they will be charged for foreign transactions.

"We are disappointed that Nationwide are raising the cost of people enjoying their holidays," added Mr Green.

Travellers were also informed by Travelex that the strength of sterling is currently under strain, with the currency falling half a cent against the US dollar on the morning of September 16th 2010.

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