Nationwide Flexclusive ISA - 4.25%, instant access

andrewthomas2008

I've called Nationwide about interest being backdated for their Flexclusive ISA, I was told by their customer services that the interest will only be backdated to 08/01/2013 not to the date it was initially opened like others have said on this thread.

I asked when I would see this backdated interest and was told I would only see the adjusted interest in my account on 01/09/2013 as the interest is only paid into the account annually.
Is this correct?

I also assumed that I would see the interest adjusted for any money I transferred in from 20/04/2013 (The date I requested the transfer) into the Flexclusive ISA, but the customer service agent said this would show up 01/09/2013 as well.
Is this correct?

Thanks for any replies guys and enjoy the Bank Holiday Weekend !!!

DragonQ

Yep, they only pay interest in September for this account, it seems.

matthewuk

Not 100% sure if anyone's already answered this (have looked through lots of the previous posts).

I put my 2012/13 ISA allowance into this account am I now able to put the 2013/14 ISA allowance into this account to also benefit from 4.25%?

If so will I have issues if I wish to transfer to a different ISA following October when the rate falls?

Thanks in advance,

Matt

KTF

Yes and no.

brick

andrewthomas2008 wrote: »

I've called Nationwide about interest being backdated for their Flexclusive ISA, I was told by their customer services that the interest will only be backdated to 08/01/2013 not to the date it was initially opened like others have said on this thread.

I asked when I would see this backdated interest and was told I would only see the adjusted interest in my account on 01/09/2013 as the interest is only paid into the account annually.

My internal xfer from e-ISA was backdated to date Flexclusive was opened; a tranche of backdated interest (for period from Flexclusive opening to Sep12) has already been applied.

My xfer in from external ISA has not yet been backdated. Was initially advised it would be backdated to same date Flexclusive was opened, but subsequently a Jan13 date has been mooted.

DragonQ

Just called up to ask for my April transfer to be backdated to 08/01/2013 and the person I spoke to actioned it straight away. No fuss whatsoever.

Danceswithhorses

Just put my 2013/14 ISA allowance in to my 2012/13 flexclusive ISA to gain the 4.25% until 31 October 2013.
Will probably transfer out in November...we'll see.
Just wanted to thank the forum and the OP for the excellent advice :beer:

fras26

Hi,

I put the maximum Cash ISA allowance into this account last year (£5640).

I have received £113.96 interest for the year. Should this not be £239.70?

What have others received? I'm awaiting "a statement with calculations of the interest accrued on your Flexclusive ISA" from Nationwide, but I was surprised with the amount I have received.

Have I missed something?

anamenottaken

fras26 wrote: »

Hi,

I put the maximum Cash ISA allowance into this account last year (£5640).

I have received £113.96 interest for the year. Should this not be £239.70?

What have others received? I'm awaiting "a statement with calculations of the interest accrued on your Flexclusive ISA" from Nationwide, but I was surprised with the amount I have received.

Have I missed something?

When did you put the £5,640 into the account? Interest is calculated on a daily basis - that is for every day the amount is in the account.

lippy1923

fras26 wrote: »

Hi,

I put the maximum Cash ISA allowance into this account last year (£5640).

I have received £113.96 interest for the year. Should this not be £239.70?

What have others received? I'm awaiting "a statement with calculations of the interest accrued on your Flexclusive ISA" from Nationwide, but I was surprised with the amount I have received.

Have I missed something?

It depends when you paid it in and if you paid in the full amount all at once or in bits and pieces. Interest is calculated daily on the total balance.

I once had a customer where I worked who paid in their full ISA allowance on the last day of the tax year, came in a few days later to ask why he hadn't got the full years interest :rotfl: