Nationwide Member's ISA Bond warning.

Fortyfoot

Members` ISA Bond Exclusive to Nationwide members of 3 years or more, it offers competitive variable rates of tax-free interest.Effective from:01/01/2009
Interest rate 1.75% up to £10,000


1 Year Fixed Rate ISA Bond (Annual Interest) A tax-free fixed rate of interest over a fixed term.
Effective from:09/12/2008
Interest rate 3.75 up to £2,000,000

I am moving mine to the Kent Reliance BS

Fortyfoot

ctdctd

Fortyfoot wrote: »

I am moving mine to the Kent Reliance BS

Fortyfoot

Nationwide's rates have been changed after the December base rate reduction. From the message on the Kent Reliance home page, it looks like they will change on Monday Jan 5th so the rate differential may not be so great.

Baldur

Fortyfoot wrote: »

I am moving mine to the Kent Reliance BS

Don't forget the 60 days notice or 60 days loss of interest which applies to the NW Members' ISA Bond.

Fortyfoot

Baldur wrote: »

Don't forget the 60 days notice or 60 days loss of interest which applies to the NW Members' ISA Bond.

How do you get out of that? Can I give notice and change in 60 days? I had seen it and have asked Nationwide what to do, but they take so long in answering

Fortyfoot

johnoz

The 60 days notice / loss of interest does not apply if transferring from the Members Bond to the Nationwide Fixed Rate ISA.

Also, bearing in mind press reports about how long it takes to transfer cash ISAs from one organisation to another in many cases, an advantage of transferring within Nationwide is that it takes just a day or so.

Fortyfoot

I did have a look on line to find out how to change to one of the fixed Isas but could not see any way of doing it. Have you to go into a branch?

Fortyfoot

meatandtwoveg

ctdctd wrote: »

Nationwide's rates have been changed after the December base rate reduction. From the message on the Kent Reliance home page, it looks like they will change on Monday Jan 5th so the rate differential may not be so great.

A simple statement based easy access account

"earn 4.01% gross"
(variable)

Correct as at 19 December 2008

No Base Rate Change since 19th Dec?

bristolleedsfan

meatandtwoveg wrote: »

A simple statement based easy access account

"earn 4.01% gross"
(variable)

Correct as at 19 December 2008

No Base Rate Change since 19th Dec?

KRBS were late in acting on the decrease before last so havent effected the last Base rate decrease yet.

johnoz

Fortyfoot wrote: »

I did have a look on line to find out how to change to one of the fixed Isas but could not see any way of doing it. Have you to go into a branch?

Fortyfoot

Yes, I had to do it at our local branch. In fairness, it only took a few minutes ... just needed some ID such as driving licence.

intalex

Fortyfoot wrote: »

Members` ISA Bond Exclusive to Nationwide members of 3 years or more, it offers competitive variable rates of tax-free interest.Effective from:01/01/2009

1 Year Fixed Rate ISA Bond (Annual Interest) A tax-free fixed rate of interest over a fixed term.
Effective from:09/12/2008

Anyone know when Nationwide would change the rate on their bonds (e-bonds and fixed rate bonds)? Am I safe in assuming that the rates won't change until (at least) the next BoE interest rate decision, or could they change in the next couple of days?

Lansdowne

Next BoE interest rate decision is this Thursday isn't it?