Nationwide brings in new charges

NATIONWIDE is introducing new overseas spending charges for current account customers.

Until recently, it avoided foreign currency loading, a fee often charged by banks as a percentage of card transactions abroad.

From November, it will introduce a 2% charge in Europe and will increase the 1% worldwide charge it introduced last year to 2%.

There will also be a £1 charge for using foreign cash machines.

However people paying in at least £750 a month will get European travel insurance.

Nationwide wants to discourage people getting accounts only to use abroad.