Nationwide Flexclusive ISA - 4.25%, instant access

KTF

prowlr wrote: »

I think I should receive an amount of backdated interest due to the incorrect advice - is there a recommended way of requesting this? Thanks.

You can only ask the question...

penny_pincha

I rang them, requested a form to do the transfer, when it turned up (a few days later) filled it in, posted it off and now the money is in my Flexclusive. The whole precess took about 10 days and that was including having Easter bank holidays in the middle.

Hooloovoo

I hope you all have better luck with your FOS complaints than I have.

It will be interesting to see all the results.

june.elizabeth

Hooloovoo wrote: »

I hope you all have better luck with your FOS complaints than I have.

It will be interesting to see all the results.

What happened?

Hooloovoo

june.elizabeth wrote: »

What happened?

Read all my posts in this thread.

In summary, the FOS have sided with Nationwide and stated that transfers in where not allowed. Even though Nationwide themselves have backed down.

That was the adjudicators decision. I have to wait another six months for an appeal and final decision from an actual ombudsman.

Frank121

Hooloovoo wrote: »

Read all my posts in this thread.

In summary, the FOS have sided with Nationwide and stated that transfers in where not allowed. Even though Nationwide themselves have backed down.

That was the adjudicators decision. I have to wait another six months for an appeal and final decision from an actual ombudsman.

Hey Hooloovoo,

I am glad that you found the energy to make the appeal even if it seems worthless. I really hope that they will look at this matter fairly and determine that the main term and conditions must prevail.


I wish you the best of luck and do keep us updated.

Frank

Paul_Varjak

Does anyone have ideas why 8 January, 2013 has been set as the backdate point for any interest payments, rather than 7 April, when the Flexclusive ISA was launched?

Nationwide's excuse seems to be that 8 January isn the date they became aware of the problem. That is a pretty lame excuse.

My guess is that there was some adjudication by the FOS that relates to 8 January, 2013 in some way. Maybe an adjudication against Nationwide was made on that date and Nationwide are thinking they can avoid paying people interest back gto 7 April?

In my case, I was told back in April 2012 (before opening the Flexclusive ISA) that it did accept transfers in and consolidations. Nationwide tracked down the phone recording where I was told this but still would not allow me to consolidate my existing Nationwide ISA.

Hooloovoo

Paul_Varjak wrote: »

Does anyone have ideas why 8 January, 2013 has been set as the backdate point for any interest payments, rather than 7 April, when the Flexclusive ISA was launched?

It possibly could have been my case.

I received an email on 29 January from the person who would be investigating my case. I originally filed the paperwork back in November.

I would think it's not unlikely for Nationwide to have received notification of someone raising a complaint at some point between those two dates, even though it hadn't yet starting being "officially" investigated.

I would guess as soon as Nationwide heard about the FOS case, they decided it was game over.

I'm still surprised they backed down rather than waiting for the results of the case. They must be kicking themselves now!

brick

brick wrote: »

I will speak again with the (helpful) agent.

Spoke again with branch agent who apologised that xfer in of external ISA was not backdated (to when Flexclusive opened), and shot off a fresh instruction for same to head office.
Will keep you posted.

Paul_Varjak

It won't have been your case hooloovoo. It would be a case that Nationwide lost