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transfer my nsai isa
kanchhelskis
Posts: 425 Forumite
Dear people i want to transfer my nsai direct isa 5.80% to a 1 year fix with nationwide 6.15% is it better for me to do it now? or wait until the tax year has finished? thanks in advance.
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Comments
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You can transfer at any time, it makes no difference but the longer you wait you risk the chance that Nationwide might reduce the fixed rate.0
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ok fair comment might go in and get it tomorrow,cheers bud.0
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It seems you may be too late for this tax year. NW have withdrawn the online application forms and other MSE posters have reported no forms in branch either."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
i opened it on saturday so i got there just in time it seems, so if anybody is wanting to open one of these they are going to have to be quick.0
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It seems you may be too late for this tax year. NW have withdrawn the online application forms .
Nationwide have withdrawn all its ISA "product guides" for amendments. This has probably more to do with the new rules coming into force in April 2008 than anything else.
It is true that nobody knows how long the 6.15% fixed rate will be available for.0 -
bristolleedsfan wrote: »Nationwide have withdrawn all its ISA "product guides" for amendments. This has probably more to do with the new rules coming into force in April 2008 than anything else.
It is true that nobody knows how long the 6.15% fixed rate will be available for.
I did not say it was for reason of rate change, just suggesting it may be too late for OP to apply for this year. Personally I doubt NW will change their ISA rates by more than 0.25% + or -
Obviously NW need to revise the guide for next year (in line with changes to rules), but why remove the guides / application forms before this tax year ends? I do not believe any other provider has done that .
"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
I was looking at doing the same thing, if the rate is still on offer when I apply tomorrow but by time the funds transfer in they are offering a lower rate would that mean i'm stuck with the lower rate for a year? I don't want to make a transfer if I can't be sure i'd get the rate I applied for...0
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I did not say it was for reason of rate change, just suggesting it may be too late for OP to apply for this year. Personally I doubt NW will change their ISA rates by more than 0.25% + or -
Obviously NW need to revise the guide for next year (in line with changes to rules), but why remove the guides / application forms before this tax year ends? I do not believe any other provider has done that .
The " Product Guides" that are in branches are dated 4th February 2008, 6.15% Fixed Rates have been in force since July 2007.
No where within these "guides/application forms" does a Interest rate get stated so the lack of availability of these in branches and/or online has absolutely no relevance to any possible interest rate changes.
An interest rate leaflet comes with the Product guide/ application form so in the event that an interest rate change occurs the leaflet gets taken out of a product guide with a replacement leaflet inserted in the guide.
Nationwide doesnt invite people to "apply for its ISAs online" so no "online applications" have been withdrawn merely all the online ISA "Product Guides which dont contain any mention of an actual interest rate.
There is nearly two weeks for people to submit 2007/08 ISA applications, will only be too late when individual ISA providers state that its no longer accepting ISA applications for 2007/08 tax year.
My local Nationwide Branch has 6.15% ISA fix poster in window which states "hurry time is running out for 2007/08 ISA applications" which indicates that its not too late to make 2007/08 ISA applications to Nationwide BS.
Nationwide fixed rate literature states that the advertised fixed rate only applies where accounts are opened with funds while the advertised rates are still available. "This Is Money" continually states that Nationwide hold the rate until transfer funds have arrived. ( Perhaps people can post any experiences)0 -
If you are fortunate and find a NW branch which gives you the form and you deposit funds before 5th April, your ISA will earn 6.15% fixed for 12 months. Thereafter there may be a similar or better offer available."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
bristolleedsfan wrote: »The " Product Guides" that are in branches are dated 4th February 2008, 6.15% Fixed Rates have been in force since July 2007.
No where within these "guides/application forms" does a Interest rate get stated so the lack of availability of these in branches and/or online has absolutely no relevance to any possible interest rate changes.
An interest rate leaflet comes with the Product guide/ application form so in the event that an interest rate change occurs the leaflet gets taken out of a product guide with a replacement leaflet inserted in the guide.
Nationwide dont invite people to "apply for its ISAs online" so no "online applications" have been withdrawn merely all the online ISA "Product Guides which dont contain any mention of an actual interest rate.
There is nearly two weeks for people to submit 2007/08 ISA applications, will only be too late when individual ISA providers state that its no longer accepting ISA applications for 2007/08 tax year.
My local Nationwide Branch has 6.15% ISA fix poster in window which states "hurry time is running out for 2007/08 ISA applications which indicates that its not too late to make 2007/08 ISA applications to Nationwide BS.
Nationwide fixed rate literature states that the advertised fixed rate only applies where accounts are opened with funds while the advertised rates are still available. "This Is Money" continually states that Nationwide hold the rate until transfer funds have arrived. ( Perhaps people can post any experiences)
So what is your point and why did you see fit to critiscise my posts?"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0
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