Nationwide Flexclusive ISA - 4.25%, instant access

badger09

madhattergirl wrote: »

So what I'm not sure of is what happens when the Flexclusive ISA rate ends in October. Can you open up a new ISA for this tax year or not as you will have paid in this years allowance into the Flexclusive ISA opened last tax year ?

If not, then will you just leave the money in the Nationwide ISA and then look to transfer in tax year 2014/15 ?

Sorry if I am being dumb !

If you pay any new money into your existing Flexclusive ISA, when the rate drops on 1 November you can either stick with it, or have your ISA transferred to a provider offering a better rate. If you can find one that is

You don't have to wait until next tax year though.

madhattergirl

david78 wrote: »

At the end of October you can open a new Cash ISA and transfer the Flexclusive ISA into that. Whether you add any new money to the Flexclusive ISA or not doesn't make any difference to this. Many are therefore adding to the Flexclusive ISA now since the rate is good, then will transfer at the end of October.

Thanks david78. So just to be clear, I can put £5760 into the Flexclusive now. Then at the end of Oct I can open a new ISA for this tax year that allows transfers in and transfer my Flexclusive in. Can I also pay in another £5760 into this new ISA ? or not as I've aleady saved £5760 in the Flexclusive ISA in this tax year ?

badger09

madhattergirl wrote: »

Thanks david78. So just to be clear, I can put £5760 into the Flexclusive now. Then at the end of Oct I can open a new ISA for this tax year that allows transfers in and transfer my Flexclusive in.

Yes

madhattergirl wrote: »

. Can I also pay in another £5760 into this new ISA

No

madhattergirl

Thank you badger09.

I thought that would be too good to be true, lol !

It was the transferring to a new provider on 1st Nov that confused me as I thought I couldn't open a new ISA if I had saved this years allowance in the Flexclusive but I'm guessing I can just open a new ISA with whatever I want to transfer in ?

Like you say, transfer the Flexclusive to another provider on 1st Nov if there is anything decent around.

tonywick

C_Mababejive wrote: »

I have it in writing (twice) via the on line messaging facility that it is valid and permissible to do the transfer on line without the need for any form filling.

I think that if you do it online you might not get the back-dating of interest to Jan 8th (the date they told me the Ts & Cs changed) or whenever. Not definite, but that's the implication I got when I phoned them.

chris1

Please could someone with an external ISA transfer pack let me know which Nationwide return address is on the envelope please? It's not written on the form.
Many Thanks

KTF

Its on the form someplace but I believe it is:

ISA Transfers
Electra House
Farnsby Street
Swindon
SN38 1ZX

Khal

Went to my Nationwide branch yesterday. Gave the "Flexclusive revised T&C letter" to the teller, who read it and said that I could not transfer my other, lower paying Nationwide ISA in to the 4.25% Flexclusive. I asked to speak to someone else, who confirmed that his colleague was wrong and that I could indeed do the transfer. Filled in the paperwork, but was told the interest would not be backdated. If I wasn't happy with that, I could send a letter of complaint, but it wouldn't get me anywhere...

Paul_Varjak

Khal wrote: »

Went to my Nationwide branch yesterday. Gave the "Flexclusive revised T&C letter" to the teller, who read it and said that I could not transfer my other, lower paying Nationwide ISA in to the 4.25% Flexclusive. I asked to speak to someone else, who confirmed that his colleague was wrong and that I could indeed do the transfer. Filled in the paperwork, but was told the interest would not be backdated. If I wasn't happy with that, I could send a letter of complaint, but it wouldn't get me anywhere...

I would certainly complain. If your complaint fails, take the matter to the ombudsman. That would cost you nothing, whether you win or lose, but would cost Nationwide around £400-£500 in Ombudsman fees alone.

typistretired

chris1 wrote: »

Please could someone with an external ISA transfer pack let me know which Nationwide return address is on the envelope please? It's not written on the form.
Many Thanks

It says in their cash isa guide book to take in branch or send transfer form to the following address:-

Dept NW 6029
Nationwide Building Society
Swindon
Wiltshire
SN38 1NW

But when I took my forms into the branch as there was no envelope the staff member told me the envelope was left out of the pack as they prefer the form to be brought into branch for checking before they forward to the transfer team.