Nationwide Flexclusive ISA - 4.25%, instant access

badger09

madhattergirl wrote: »

Hi

apologies if this has been covered earlier on in the thread but here goes.... i received the letter today re the change in t&c's to the Flexclusive ISA from 1st May. It says if you have completed a transfer or are in the process of doing so then the funds will be added to your Flexclusive ISA. Do you think I can get away with transferring my 2012/13 M&S ISA and previous years ISAs which I transferred into my current M&S ISA when I opened it last year if I get the ball rolling asap ? The transfer is not technically 'in progress' yet ! I was under the impression that the account didn't allow transfers until I opened the letter from Nationwide earlier and found there was a loophole :rotfl:

You should be ok, but I personally wouldn't risk requesting the transfer forms by post and then posting them back

Pop into your nearest branch and fill them in asap.

adindas

innovate wrote: »

Somebody received a letter which says Nationwide will not accept instructions for a transfer after May 1. I read that as you can give them instructions before May 1.

http://forums.moneysavingexpert.com/showpost.php?p=60332309&postcount=45

EDIT: That letter seems to get sent to all Flexclusive ISA customers. So if you haven't got yours yet, you'll no doubt soon receive your copy of it.

I received the same letter yesterday.
Now, the decision to be made "Whether to put this year new ISA subscription in this account which currently pay around 4.25% but will drop significantly after October 31, or wait until the last minutes to see whether there is a new offer either from NW or other providers will come to the market. The new offer will have a minimum of a least a year before the interest is drop .....

Decision, decision, decision ....

If you have any tip offs from insiders or any commentary will be highly appreciated ......

badger09

adindas wrote: »

I received the same letter yesterday.
Now, the decision to be made "Whether to put this year new ISA subscription in this account which currently pay around 4.25% but will drop significantly after October 31, or wait until the last minutes to see whether there is a new offer either from NW or other providers will come to the market. The new offer will have a minimum of a least a year before the interest is drop .....

Decision, decision, decision ....

If you have any tip offs from insiders or any commentary will be highly appreciated ......

https://forums.moneysavingexpert.com/discussion/4530543

DragonQ

Oh joy. Just got a letter from Santander (dated 25/03/2013) saying they couldn't transfer my ISA to my Flexclusive ISA because it hadn't matured yet....despite the fact it was an instant access ISA with terms & conditions explicitly stating that transfers in and out were allowed at any time.

Called them and they agreed the letter was wrong and have put through a "back room request". Not sure what that is but I was assured I'd get an interest adjustment backdated to when they received the transfer request. We'll see.

Paul_Varjak

That is good news DragonQ.

2sides2everystory

Update on my attempts to transfer in to Flexclusive ISA from external providers after a form-filling exercise at the branch on 27th March:

I'd heard nothing and seen nothing online (except coincidentally on 2nd April I received my Flexclusive ISA changed Ts and Cs letter dated 25th March.)

So I sent a secure message on 2nd April asking if the transfer in was progressing ok. Heard nothing in 48 hours so I sent another secure message.

Got one back this evening - they can't find my transfer in application - which branch did you say ?

Not so good Nationwide ...

Dustykitten

Is it going to be possible to open a new instant access ISA somewhere for 2013/14, fund it and immediately request to transfer into current flexclusive ISA at 4.25% until October. If possible is this a good or bad idea?

zagfles

Dustykitten wrote: »

Is it going to be possible to open a new instant access ISA somewhere for 2013/14, fund it and immediately request to transfer into current flexclusive ISA at 4.25% until October. If possible is this a good or bad idea?

Why not just put the new year's ISA allowance straight into the Flexclusive?

2sides2everystory

Zagfles, thanks for the reminder that the new year's ISA allowance starting tomorrow can be put straight into an existing Flexclusive.

Can I fund it directly tomorrow from a current account at another bank? Or maybe if Flexclusive ISA does not accept faster payments it gains a day or three if I move the money into my Nationwide Flexaccount today by Faster Payments and then transfer it via the NW website online tomorrow 6th April?

northerntwo1

I've been down to nationwide today. They accepted my transfer from other provider into flex 1, and allowed a cheque for tomorrow's new term.

It's only until November, but I suspect its the best deal for me right now.