As summer travel plans take shape, Nationwide Building Society has issued an important update for its customers regarding card usage fees and potential scam warnings. The world’s largest building society has alerted its members to be cautious about fees when using their cards abroad and to be vigilant against festival and ticket fraud. This update aims to ensure that customers are well-informed and can enjoy their holidays without unexpected financial surprises.
Understanding the New Card Usage Fees
Nationwide has highlighted that certain debit cards will incur a non-sterling transaction fee of 2.99% on foreign purchases. This fee applies to most accounts, except for FlexPlus, FlexStudent, FlexGraduate, and FlexOne account holders. Similarly, cash withdrawals made abroad in a foreign currency will attract the same charge, with the same exemptions. 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% transaction fee at non-LINK cashpoints, although once again, the specific account exemptions apply.
Credit card users are also affected by these changes. A 2.5% transaction fee, subject to a minimum of £3, will be applied to foreign transactions. Nationwide has advised its customers to consider accounts with no fees abroad to avoid these charges. This update is crucial for those planning to travel internationally, as it helps them understand the potential costs associated with using their cards overseas.
Scam Warnings for Festival and Ticket Purchases
In addition to the fee updates, Nationwide has issued warnings about the risk of festival and ticket fraud during the summer season. Customers are advised to be cautious when purchasing tickets from unfamiliar websites. Nationwide recommends ensuring that any ticket sellers are members of the Society of Ticket Agents and Retailers (STAR) to safeguard their money. Conducting thorough research before making a purchase, asking pertinent questions, and being aware of refund policies are essential steps to avoid falling victim to scams.
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. Customers should also check with their card provider regarding the duration of the liability period. Nationwide’s alert aims to protect its customers from potential financial losses and ensure a safe and enjoyable festival experience.
Tips for Safe and Cost-Effective Travel
Nationwide has provided several tips for customers to ensure safe and cost-effective travel. Firstly, customers are encouraged to check their account details and understand the fees associated with their cards before traveling. This includes being aware of any exemptions that may apply to their specific account type. Additionally, customers should consider using accounts with no fees abroad to avoid unexpected charges.
Secondly, Nationwide advises customers to be vigilant against scams by only purchasing tickets from verified sellers and conducting thorough research before making any transactions. This includes checking for membership with STAR and understanding the refund policies of the seller. By following these tips, customers can enjoy their holidays without worrying about unexpected fees or falling victim to scams.
