new nationwide ISA 7th April ??

roddydogs

K_P83 wrote: »

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.

Did you not get the "We are going to close your a/c" letter?

DragonQ

I'm going to call them today to ask exactly how the account works and how to transfer, etc.

If it's relatively simple I'll go for it. I have 2 direct debits (luckily) but no monthly salary to transfer so as long as I can do the £750 deposit per month manually it should be fine. I've decided branch-only access isn't an issue apart from the deposit, which is only hassle once.

A question though: if it's branch only, how can you make the initial deposit? Does it have to be cash/cheque? Or can I pay in by debit card?

ses6jwg

This is exactly the position Santander was in last tax year.

Everybody was transferring their Direct ISAs with 40k in somewhere else, then deposting £5340 into the Flexible ISA.

They haven't done it this year because it was bad for business and just a loss leader.

I suspect this ISA from Nationwide is a loss leader to get you into branch to flog you the flex account or home insurance, hence why branch only.

pem2

'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.'

hermante

This beats the BM savings one as long as you keep your average balance in the current account under £230. Which means another set of FPs every month, fun!

Wammer

I called my branch to make an appointment and they said they weren't taking appointments and to just turn up, but I would have to sit at the side and fill in an application form.

Better leave plenty of time then.

Nine_Lives

I got in touch with Nationwide & got this response:

[FONT=Verdana, Arial, Helvetica, sans-serif]Thank you for your message.[/FONT]

I confirm we do not currently offer an ISA at this interest rate, I am unable to confirm which product may be introduced in the future as this is subject to change.





[FONT=Verdana, Arial, Helvetica, sans-serif]When we make changes or introduce new products, we make changes public knowledge by.

- Advertisements in National newspapers.
- Placing notices within branches.
- Having the new interest rates available on our website.

Nationwide does not notify customers on an individual basis about rate changes, or product availability.[/FONT]


Regards
Laura Gaff
Customer Consultant
Nationwide Building Society

What's this about branch only? Are you not going to be able to get this account online?

That's more than a bit crap for those who work Mon-Sat. I don't qualify due to the £700 funding, but my brother does as Nationwide is his main account. However, he works 8am-8pm Mon-Sat. No chance of him going in branch.

KTF

K_P83 wrote: »

What's this about branch only? Are you not going to be able to get this account online?

Apparently not. Gives them more opportunity to flog you stuff face to face.

Nine_Lives

What a load of tosh that is. It limits the audience even further then. Even if i did qualify with the £700+ per month credit, i'd still not be able to open it as i only get Sunday's off work at the moment.

Time to set up the auto-payment to my Santander ISA once again...

KTF

Either in this thread or the other one about this ISA it suggests that you might be able to apply via phone.