Nationwide Flexclusive ISA - 4.25%, instant access

rb10

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

So, it's an instant access ISA paying 4.25% AER on balances from £1.

Branch-based only, and doesn't accept transfers in. The bonus element of the rate will last until October 2013.

Need to be a 'main' Flexaccount holder (i.e. pay in £750 per month or transfer SOs and DDs to Nationwide).

I still struggle to believe that it's not just a typo and that they really mean 4.25%

Wammer

rb10 wrote: »

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

So, it's an instant access ISA paying 4.25% AER on balances from £1.

Branch-based only, and doesn't accept transfers in. The bonus element of the rate will last until October 2013.

Need to be a 'main' Flexaccount holder (i.e. pay in £750 per month or transfer SOs and DDs to Nationwide).

I still struggle to believe that it's not just a typo and that they really mean 4.25%

Is the last bit another typo??

KTF

I wonder if the competition will react to this before the new tax year and I suspect their branches are going to be busy on Saturday.

fiesta04

A win-win situation.

Customers earning a good rate.

Nationwide get more customers for a lot less than £100 given by other Banks.

F4

sscott5581

I was in branch today and was told about this account. Will be opening one next week in branch. Will the account be visibile via online banking.

rb10

sscott5581 wrote: »

Will the account be visibile via online banking.

I would hazard a guess that the answer will be yes, since http://www.nationwide.co.uk/search/DisplayArticle.aspx?article=1401 implies that the only account that is not visible is the Junior ISA.

jonmcclelland

Looks a fantastic account. It will be interesting to see how competitors react to this? Next week could be interesting.

Sadly, it doesn't help me though with 2012/2013s allowance all ready to go and wanting to maximise my interest from day one, yet hold zero current account with them. I don't want to lose out on 3 months worth of interest just to qualify.

DragonQ

The only way it wouldn't be worth it over the AA's 3.5% ISA is if it takes more than two months to transfer the current account over, which is unlikely. Plus, the interest rate bonus lasts for more than a year and in theory you can get 4.25% on the 2013-14 tax year's deposit too.

The only down-side is the branch-only access. What kind of crap is that? I mean, I don't really intend to take money out before the bonus rate drops but it's just so inconvenient.

I hope this makes some other banks offer more competitive ISAs that have online access.

rb10

jonmcclelland wrote: »

Sadly, it doesn't help me though with 2012/2013s allowance all ready to go and wanting to maximise my interest from day one, yet hold zero current account with them. I don't want to lose out on 3 months worth of interest just to qualify.

You can still qualify by transferring DDs and/or SOs to a Flexaccount, likely to take 1-2 weeks.

jonmcclelland

rb10 wrote: »

You can still qualify by transferring DDs and/or SOs to a Flexaccount, likely to take 1-2 weeks.

I suppose there is that too. I only have 1 DD though and that was recently switched through the Co-Op. Do you think they'd accept that as a 'switch'?

riza

i thought the end date is 5th April to put money in an ISA? Sorry if i'm wrong. i'm a bit of a newbie when it comes to ISA.