From 6 May, Nationwide are planning to impose charges on their credit cards and from 1 June on their debit cards when they’re used abroad.

I’m disappointed about this, I must admit. I’ve always been the one to brag that it doesn’t cost me any commission when I use my card whilst we’re on holiday – wherever we go. When I opened my “Nationwide” account, some years ago, it wasn’t one of the major factors – but it was there none the less. Had I opened that account recently, with the commission-free deal in mind, I would most definitely not be amused.

In actual fact, having read further, it’s not all of “abroad” they’re referring to and there will be no changes if I’m travelling within Europe.

Nationwide are not alone – Saga are another company that make no commission charge within Europe, but do charge on world wide usage of their card. Thomas Cook is making changes from next month, too.

The winners, at present, in offering free-charge card use world-wide, are the Post Office. They don’t charge commission on either their Classic MasterCard or their Platinum MasterCard.

Nationwide say that the credit crisis is to blame. They can no longer absorb the fee which Visa charges them for each transaction.
Another credit crunch victim.