New Nationwide e-ISA 2.75%

d00fus

Didn't see this mentioned here yet - Nationwide finally have a decent cash ISA offer! Doesn't match the new A&L/Santander one, but allows transfers and matches First Direct's rate of 2.75%, easy access. The rate isn't fixed but includes a 1% fixed bonus until 30/6/2011. The catch is you need a card account with them.

http://www.nationwide.co.uk/savings/cash_isa/eisa/default.htm

freddysmith

Just seen the 3 year fixed at 4.40%, well rates are looking up at last.
No 6mth or 2yr 4yr 5yr rates now.
2.75% seems a very good rate just to keep my Nationwide ISA money flexible until something better arrives.

hansi

d00fus wrote: »

Didn't see this mentioned here yet - Nationwide finally have a decent cash ISA offer! Doesn't match the new A&L/Santander one, but allows transfers and matches First Direct's rate of 2.75%, easy access. The rate isn't fixed but includes a 1% fixed bonus until 30/6/2011. The catch is you need a card account with them.

http://www.nationwide.co.uk/savings/cash_isa/eisa/default.htm

Yes, I've been looking at this one. I have a Nationwide card, so I would be eligible. I have a question though. My current ISA with Halifax (3%) matures on 5th April. Could I apply for the Nationwide ISA today and put £1.00 in it, and then, after 6th April, get Halifax to transfer my matured ISA funds to Nationwide, always depending, of course, that Halifax don't offer me better;)

rb10

hansi wrote: »

Yes, I've been looking at this one. I have a Nationwide card, so I would be eligible. I have a question though. My current ISA with Halifax (3%) matures on 5th April. Could I apply for the Nationwide ISA today and put £1.00 in it, and then, after 6th April, get Halifax to transfer my matured ISA funds to Nationwide, always depending, of course, that Halifax don't offer me better;)

If you have paid any money into any ISA since 6th April 2009, then you cannot do this.

If you have not paid any money into any ISA since 6th April 2009, then you would be entitled to do this, but then any more money that you want to pay into an ISA before 5th April 2010 must go into this one.

I am interested in a similar question though ... Generally, even when a website gives a minimum opening balance, it is possible to open it with £0 if you are transferring in (what they mean is that the first deposit must be at least £1).

So if I opened it now with £0, then would I still get the 2.75%?

Even if I didn't fund it until my Halifax ISA ((same one as yours at 3%) finishes in July?

david78

rb10 wrote: »

If you have paid any money into any ISA since 6th April 2009, then you cannot do this.

... unless your 2009/2010 cash ISA was already with Nationwide, when you can top-up into the new account.

rb10 wrote: »

I am interested in a similar question though ... Generally, even when a website gives a minimum opening balance, it is possible to open it with £0 if you are transferring in (what they mean is that the first deposit must be at least £1).

If you can arrange the transfer when you open the account you can do this. You can't just open an account with nothing in, however, and then transfer in later.

System

hansi wrote: »

Yes, I've been looking at this one. I have a Nationwide card, so I would be eligible. I have a question though. My current ISA with Halifax (3%) matures on 5th April. Could I apply for the Nationwide ISA today and put £1.00 in it, and then, after 6th April, get Halifax to transfer my matured ISA funds to Nationwide, always depending, of course, that Halifax don't offer me better;)

I moved my ISA from Nationwide to Halifax last year as Nationwide was offering under 1% and the Halifax one was 3%.

Do I move back to Nationwide, this is the question!

I've been looking at the A&L one too but not sure whether you are allowed to transfer existing ISA money into this...

Don't you just love this time of year :cool:

hansi

It's a personal thing, but I wouldn't touch anything that has the name of Santander on it. Too many complaints from ex Abbey customers!! I'll wait and see if Halifax offer any deals to existing customers! Some hope!

FrugalTopCat

I was just about to apply for this when I noticed the following within the Ts & Cs for the e-ISA.....

"Nationwide's No Penalty Transfer Policy does not apply to this account."

Anyone got any clarification on that? I have been trying to call them just now but not managed to get through. Obviously all the advice here suggests that the beauty of cash ISAs is that you can keep transferring if necessary once their rate is no longer attractive....

System

hansi wrote: »

It's a personal thing, but I wouldn't touch anything that has the name of Santander on it. Too many complaints from ex Abbey customers!! I'll wait and see if Halifax offer any deals to existing customers! Some hope!

I know where you're coming from, I have a business account with them (as it's free banking).

Saying that Halifax were not much better either when I dealt with them last year, it was a very testing time to say the least!!

Have no idea what to do for this year - have last years ISAs to transfer from Halifax if it's best to do so. Also this years new ISAs to consider.

Have started to read through the various posts and A&I seems to be popular on this forum, am also looking at Nationwide as they have been good to deal with in the past

FrugalTopCat

FrugalTopCat wrote: »

I was just about to apply for this when I noticed the following within the Ts & Cs for the e-ISA.....

"Nationwide's No Penalty Transfer Policy does not apply to this account."

Anyone got any clarification on that? I have been trying to call them just now but not managed to get through. Obviously all the advice here suggests that the beauty of cash ISAs is that you can keep transferring if necessary once their rate is no longer attractive....

Just following up on my post yesterday....I rang the savings dept at Nationwide and was put on hold for about 10 minutes, part way through they came back to tell me that the account did not accept transfers IN...once I had put them right on that (quoting from their own website blurb) after a further few minutes the advisor then came back to tell me that yes, there is a penalty on transferring out but she could not tell me what it was. So a complete waste of time - the ISA team was supposed to be ringing me but a full day later I have not received a call as yet.

So I'm a bit disappointed as this one looked like a good home for one of our transfers - I will post more info on what the restrictions are if I can get hold of this.

martinman3

FrugalTopCat wrote: »

Just following up on my post yesterday....I rang the savings dept at Nationwide and was put on hold for about 10 minutes, part way through they came back to tell me that the account did not accept transfers IN...once I had put them right on that (quoting from their own website blurb) after a further few minutes the advisor then came back to tell me that yes, there is a penalty on transferring out but she could not tell me what it was. So a complete waste of time - the ISA team was supposed to be ringing me but a full day later I have not received a call as yet.

So I'm a bit disappointed as this one looked like a good home for one of our transfers - I will post more info on what the restrictions are if I can get hold of this.

The "No Penalty Transfer Policy" allows you to switch your money from an obsolete account to any other account in their range without notice or loss of interest.

I believe that this is different to an ISA transfer out which must always be allowed. Tell us what you find out.