new nationwide ISA 7th April ??

10_66

veryintrigued wrote: »

... whats not to like?!

Nothing, as long as this is what it it is. Be interesting to see what it turns out to be. When I spoke to the person in their call centre (I know they're often the last to know!), they said they couldn't imagine they'd be offering a straight forward instant access ISA offering 4.25%. We'll just have to wait and see. I might just go ahead with the BM anyway. I get fed up with the flippin' ISA game of "will they, won't they".

Nine_Lives

Thinking about this sensible like .... all we have is the OPs word here.

Now i'm not trying to discredit the OP, i'm just making sense of the situation. His local Nationwide branch advised him & he passed the message on to us.

I think the interest lost over just 1 day is going to be minimal, so probably worth the wait, but this rate is way above any other instant access. Anyone thinking it wont happen?

badger09

K_P83 wrote: »

Thinking about this sensible like .... all we have is the OPs word here.

Now i'm not trying to discredit the OP, i'm just making sense of the situation. His local Nationwide branch advised him & he passed the message on to us.

I think the interest lost over just 1 day is going to be minimal, so probably worth the wait, but this rate is way above any other instant access. Anyone thinking it wont happen?

There's another poster on the Best Mini Cash ISA thread with the same story.

Conspiracy theory anyone :eek:

At least if some of us wait a day, it will give Santander's machinery a chance to avoid meltdown

beansy

This really is genuine.

I called in today to find out what date I put last yrs subscription in as I was planning on transferring into Santander 2 yr ISA and putting 2012/13 in asap but wanted to be sure I was outside of the 12 months.

The Adviser on the help desk was really helpful and after checking my account and advising me I was free to transfer without penalty at any time as I had an e-ISA he told me about the new account coming out on Saturday.

I then telephoned the 0800 number this evening to find out more information and the lady on the phone didn't have any info about it but she said if I wished to hold on she would make enquiries and come back to me. She then confirmed it is called a Flexclusive ISA (not sure if spelt correctly) at 4.25% (amended - see my latest post below for explanation) Guaranteed to be 1.4% above the Bank of England base rate until January 2014 and it would be available from 7 April. Could deposit the full £5640 pp for this year but no transfers in.

I didn't make a note of the rest of the info as I knew I qualified but it was something like you had to have a flex account and have deposited a min of £700 (I think) pm over the past 3 months to qualify for the account. But don't quote me on this as I wasn't taking much notice of this as I was about to go out.

I don't have any connection with NWide. I called the 0800 302010 tel. no.

Wammer

That sounds feasible as I have a Flexclusive Saver account which has a passbook so the name makes sense.

hermante

beansy wrote: »

This really is genuine.

I called in today to find out what date I put last yrs subscription in as I was planning on transferring into Santander 2 yr ISA and putting 2012/13 in asap but wanted to be sure I was outside of the 12 months.

The Adviser on the help desk was really helpful and after checking my account and advising me I was free to transfer without penalty at any time as I had an e-ISA he told me about the new account coming out on Saturday.

I then telephoned the 0800 number this evening to find out more information and the lady on the phone didn't have any info about it but she said if I wished to hold on she would make enquiries and come back to me. She then confirmed it is called a Flexclusive ISA (not sure if spelt correctly) at 4.5%. Guaranteed to be 1.4% above the Bank of England base rate until January 2014 and it would be available from 7 April. Could deposit the full £5640 pp for this year but no transfers in.

I didn't make a note of the rest of the info as I knew I qualified but it was something like you had to have a flex account and have deposited a min of £700 (I think) pm over the past 3 months to qualify for the account. But don't quote me on this as I wasn't taking much notice of this as I was about to go out.

I don't have any connection with NWide. I called the 0800 302010 tel. no.

Really, 4.5% instant access? 1.4% above BOE rate is 1.9%, which means the rate might drop. Is it only for existing customers?

Deru

Is it only for existing customers?

Ditto.

Sounds like it is though if the requirement was for the customer to have paid in £700 pm for the past 3 months.

I don't even mind opening a current account with Nationwide for this deal.

If it were open, I'd be tempted to Subscribe in the allowance to this one, then convert my Halifax ISA which has this year's allowance for 3%.

10_66

beansy wrote: »

...but it was something like you had to have a flex account and have deposited a min of £700 (I think) pm over the past 3 months to qualify for the account. But don't quote me on this as I wasn't taking much notice of this as I was about to go out...

That's me out then, although I do have a Flex Account, I haven't deposited £700 in per month over the last 3 months.

beansy

Worth giving the freephone number a ring to check the T & C out for yourselves because I was in a hurry when I rang and was holding on for quite a while as they didn't seem to have the information readily available.

The young man in my local branch probably didn't see the need to go into too much detail with me about the criteria as he had my account on screen and would have been able to see that we are long standing customers and my oh's monthly salary is paid into our flex account but he did tell me you couldn't do a transfer in as that was the reason for my visit as I was planning on opening this year's ISA and transferring my existing ISA's to the new Santander 4% account.

REALLY SORRY, THIS SHOULD READ 4.25% as stated in my first post and NOT 4.5% (typo error posting in a hurry before zzzzzzzzzzzz).

roddydogs

Wont this upset people with their existing ISA, but dont have a spare £5640 to put in on the 7th?, if they withdraw money from their existing A/c, they lose that ISA allowance for that year.?