new nationwide ISA 7th April ??

ukdickie31

I went to Nationwide today to discuss ISA options for 2012/13. They advised me to hang on until 7th April when they will be launching a 4% pass book based instant access ISA.

No literature yet but they suggested I hold fire on taking out any other cash ISA products with Nationwide until at least Saturday.

4% instant access... seems pretty good.... will wait and see if it is as they stated.

redmalc

Did they advise if transfers would be allowed ??

psychic_teabag

That would be a very generous rate for a branch-based account. I'd guess they wouldn't accept transfers - could end up paying 4% on quite a tidy sum.

Maybe it will be a regular-saver sort of ISA - 4% is fairly typical for (non-ISA) regular savers. £500 per month wouldn't quite fit under the annual allowance.

evenasus

psychic_teabag wrote: »

Maybe it will be a regular-saver sort of ISA - 4% is fairly typical for (non-ISA) regular savers.

I think you're right.

I haven't had a 'pass book' account for some years.
It's so much easier to move money around online.

beansy

I was asking in my local branch about transferring my e-save ISA and was advised that there is a new instant ISA coming out on Sat for existing current account customers with a 4.25% interest rate but you won't be able to transfer money in.

Nine_Lives

Hmm. I should hold off payment to my Santander on 6th April then & wait to see.

evenasus

K_P83 wrote: »

Hmm. I should hold off payment to my Santander on 6th April then & wait to see.

Me too.

KTF

K_P83 wrote: »

Hmm. I should hold off payment to my Santander on 6th April then & wait to see.

Me 3. I think a days interest is worth the risk

I suspect the Nationwide ISA wont let you put in the full allowance if that rate is genuine. There has to be a catch as it is higher than the other instant access offerings.

10_66

Was going to send off my BM (2 year 4.05%) confirmation slip with cheque on Thursday so they'd get it at the beginning of the new financial year. Not sure what to do now. Why would they want to not publicise it? I rang their 0800 number to see if anyone knew anything about this, but of course, they didn't.

badger09

KTF wrote: »

Me 3. I think a days interest is worth the risk

Me 4 :rotfl:

veryintrigued

10_66 wrote: »

Was going to send off my BM (2 year 4.05%) confirmation slip with cheque on Thursday so they'd get it at the beginning of the new financial year. Not sure what to do now. Why would they want to not publicise it? I rang their 0800 number to see if anyone knew anything about this, but of course, they didn't.

Same position but am defo waiting. If this Nationwide allows full new money in with no penalty and you're not tied in - whats not to like?!