Nationwide cash ISA transfer - interest allowance

david78

When I transferred three cash ISAs to a fixed rate account, this is what happened.

I had a (1) members ISA bond, (2) a Tessa ISA Bond, and (3) an instant access ISA.

I completed a consolidation form to move all three accounts into the members ISA bond, and I filled in a form to opened a new FRISA bond with money to be transfered from my consolidated members ISA bond.

They first moved all of the funds plus interest into the members ISA bond (crediting interest due.) Then they moved the members ISA bond (crediting interest due) to the new FRISA. All of this was done on the same day without loss of interest.

Note that they (a) allowed me to make effectively two deposits into the members ISA bond, and (b) they waived the notice period when I moved the members ISA bond to the FRISA.

In this instance they gave me a new FRISA account, rather than re-designating the account number associated with the members ISA bond, and once they chose to do this they had to credit my interest at the point of transfer.