HSBC atm

[LeeGlo]

Nicola, I know the HSBC cash machine and also the one at TEB near the otogar give sterling, are there any others in Fethiye area?

[Ovacikpeedoff]

Technically Marggie is correct as Nationwide has the right to charge for sterling withdrawals abroad. The charge is not applied because being able to withdraw in sterling is quite rare and does not happen in most countries. The charges just get lost in the whole scheme of things. If sterling withdrawals was a wide spread activity and the incurred costs became a large figure I am sure that the costs would be passed on.

So count yourselves lucky.

[nichola]

Technically Marggie is not correct (sorry Marggie).

Of course any bank can charge what it likes OPO but actually the information on the Nationwide web site was widely miss interpreted by everyone but it would seem, me!  

If you read their web information carefully you can see and it was always quite clear to me that when Nationwide stated on its web site that there would be no charge for withdrawals for GBP that is what it meant.

There were about 100 topics on this subject where everyone widely speculated and assumed there would be charges and there have continued to be posts with people confidently declaring they were now charging.

They didn't and still don't - for that we are indeed very glad

[angieebabe]

Nationwide Flex Accounts: all sterling withdrawls from any HSBC and Garanti Bank are free of any charges have been using since last November when they abolished there free foreign currency withdrawls.

[Ovacikpeedoff]

Nichola, considering I worked for Nationwide for 30 years and 8 years managing the audit of the treasury function where these transactions get settled that I actually do know what is current policy.I can assure that NBS does pay charges  to other banks for these sterling withdrawals and some charges are hefty.At present these fees are not passed on but Nationwide has the right to pass them on.My advice would be to everyone is to basically forget it and to remember the old saying about sleeping dogs.

Nichola, I would suggest that you read all the terms and conditions or in other words the small print.At any time NBS has the right to pass those fees on without having to formlly notify account holders because it is in the small print.

Also I would point out to you that banks are not allowed to charge what they like. If a customer feels that they have been charged excessive fees then they have the right to appeal to the Ombudsman. There have been many cases where appeals have been made and the Ombudsman has found in favour of the customer.

Due to the current level of interest rates and the resulting tight margins every financial institution are looking at ways of increasing income.Things may even get tougher if the BOE cuts interest rates as suggested by IMF. In the current climate we arenot far away from returning to the old days when you paid for the privelge of having a current account.

[nichola]

I was under the impression we had got onto discussing if you are charged by the NBS (Nationwide) for withdrawing GBP here in this area where some banks do dispense GBP.

So I am not sure what your point is OPO?

I recall that Fi contacted the NBS (Nationwide) and this is what she reported and I am guessing this was in writing.

"Nationwide's reply to withdrawing Sterling abroad.

I confirm the charges will apply as the transactions would be completed abroad.

So we can't use that loophole to save the charges..."

Obviously working at the NBS does not necessarily qualify one to know what the current policy is.

And, if the NBS change their policy and start charging for overseas withdrawals in GBP I am sure it won't be because a handful of people are discussing it on this forum.

[nichola]

{A Link to an old CBF topic was here - no longer available}36821&whichpage=5&SearchTerms=Nationwide

[Ovacikpeedoff]

Nichola, my point is and I will pu it as simple as I can for you is that when you take cash out of a HSBC, TEB or any other bank in Turkey they make a charge for that transaction. These banks do not do it for nothing. This charges are included in the settlement amounts that Nationwide makes. So your £100 withdrawal will also include a TEB bank charge. Nationwide currently absorbs that charge. Ithas the right to pass that charge onto you the account holder. I hope that is simple enough for you.

I do take exception when you insult me by questioning whether I know what NBS policy is. All i can say is I am in a much better position than you are to comment on it. I have told what the policy is that NBS has the right to pass bank charges on but has decided for the time being not to.

[nichola]

And please let me put this simply for you OPO. I believe we were talking about what actually happens in real life not whether or not they have "the right" to make charges and nor about whether or not the Nationwide pays charges to other banks for these transactions.

The point in question which I was directly asked by Marggie is if this information is on their web site and relates to, does the Nationwide make charges to Flex account card holders for withdrawing in GBP overseas.

And the answer to this question is no, it does not.

Taken from the Nationwide Web Site

"We will introduce a commission charge and a cash withdrawal charge for transactions in currencies other than Sterling".

[nichola]

quote:Originally posted by LeeGlo

Nicola, I know the HSBC cash machine and also the one at TEB near the otogar give sterling, are there any others in Fethiye area?

LeeGlo I only ever use HSBC at their ATM in Fethiye so I am sorry but I don't know about other bank ATM's in the area. Others will I am sure.