new nationwide ISA 7th April ??

10_66

AirlieBird wrote: »

Interesting. The usual criteria for qualifying for flexaccount exclusives is to have deposited £750 a month for the last 3 months OR to complete a [current] Account Transfer form from a non-Nationwide account or have done so in the last 4 months.

This is what I was told when I went into my local branch today to ask about it. I do have a flex account, but only one that I keep £1 in to use as a "switch" for other current account offers (ie Santander, Co-op etc). I really can't go through the aggravation of switching my main current account to them in order to qualify for this 4.25%, ISA time's stressful enough as it is having to transfer left, right and centre, I don't want to involve any more chaos by my dd's and so's going adrift as well.

dggar

The only reference i can find on the nationwide site today for "Flexclusive" is the following:---

Flexclusive Saver Savings Account
A branch based instant access account created exclusively to reward our Nationwide main FlexAccount customers.


Key features

• An interest rate of up to 2.00% gross p.a./AER variable
• Open your account with at least £1,000 in any Nationwide Branch
• Make unlimited withdrawals and unlimited deposits up to a maximum balance of £5,000,000
• Includes the reassurance of a Rate Promise to pay at least 1.50% above the Bank of England Base Rate until 1 January 2014
• Created to reward our Nationwide main FlexAccount customers

Eligibility Criteria


To apply for a Flexclusive Saver account, you must hold a FlexAccount with a Visa debit card (not cash card+) and:

• Have been paying in £750 (excluding internal transfers) a month for the last three months, or;
• Complete an account transfer to us (from a non-Nationwide account) using our Account Transfer Service

If a joint application is made only the first named account holder must meet the main FlexAccount customer eligibility criteria

It will be interesting to see if this changes on 7th April. At present it does not seem to be an ISA.

10_66

dggar wrote: »

The only reference i can find on the nationwide site today for "Flexclusive" is the following...

...It will be interesting to see if this changes on 7th April. At present it does not seem to be an ISA.

It won't appear on their website yet as it's not available until Saturday 7th April.

Nine_Lives

Damn, i'm out of luck also.

I've had a FlexAccount for a number of years, but Nationwide offer very little for me, so i've not really paid anything into it for a considerable amount of time.

KTF

Details are on their media centre page now:

New instant access account rewards Society’s existing main current account customers

03 April 2012
To coincide with the start of the new tax year, Nationwide will, on Saturday 7 April, be launching a brand new branch-based ISA paying 4.25% AER tax-free. As well as encouraging savers to make the most of the increased tax-free cash ISA allowance of £5,640, the new account is designed to reward customers who currently use Nationwide’s FlexAccount as their main current account, or who open a new FlexAccount and use Nationwide’s Account Transfer Service. This reinforces Nationwide’s strategy to reward customers who have a deeper relationship with the Society.

Available to new subscriptions only, Flexclusive ISA is a variable rate, instant access account that guarantees to pay a core rate of at least 1.50% above the Bank of England Base Rate until 1 January 2014. At Base Rate’s current level, Flexclusive ISA would pay a core rate of 2.00% AER tax-free. In addition, the account will offer an introductory bonus of 2.25% fixed until 31 October 2013 bringing the overall rate, paid on balances of £1 and over, to 4.25% AER tax-free.

Flexclusive ISA will appeal to those savers who want to use their 2012/13 tax-free cash ISA allowance straight away but at the same time want immediate access to their money. The minimum opening balance for Flexclusive ISA is £1, with a maximum deposit of £5,640 for the current tax year.

To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:

• Pay in £750 or more each month (excluding internal transfers) for the last 3 months, or:
• Agree to complete an Account Transfer from an account (non Nationwide) using our Account Transfer Service or have done so in the past four months.

To continue to be eligible for Flexclusive ISA, customers must meet all of the criteria above, as well as continuing to deposit at least £750 or more each month into the FlexAccount.

Source: http://www.nationwide.co.uk/mediacentre/pressreleases/viewarticle.htm?ID=1945

Wammer

Just a bit nervous about the "main FlexAccount holder" bit. We have a joint account so I'm hoping we both qualify.

beansy

There is talk that you may be able to open this over the phone but it hasn't been confirmed yet.

beansy

Wammer wrote: »

Just a bit nervous about the "main FlexAccount holder" bit. We have a joint account so I'm hoping we both qualify.

I asked about this and was told if it was a joint account and you meet the main criteria then both eligible for an account.

Wammer

beansy wrote: »

I asked about this and was told if it was a joint account and you meet the main criteria then both eligible for an account.

Thanks.

I called about it earlier and the girl didn't know anything about it. She said they normally only get told the day before.............

She did say I should be able to open it by phone or in branch, but I don't think I will take any chances on the phone and I am intending calling the branch tomorrow to make an appointment if I can.

beansy

Wammer wrote: »

Thanks.

I called about it earlier and the girl didn't know anything about it. She said they normally only get told the day before.............

She did say I should be able to open it by phone or in branch, but I don't think I will take any chances on the phone and I am intending calling the branch tomorrow to make an appointment if I can.

Me too. But I was told in the event that there are no available appointments, the CS are open 24 hrs so could ring on Sat to see if they are able to open the account over the phone.

Just transferring some money from my Santander E-Save account to NWide ready.

Quite funny really as in the process of transferring our e-ISA's held with Nwide to the 2 yr 4% Santander ISA. Although this is worth much more!!!

LOL.