Nationwide Flexclusive ISA - 4.25%, instant access

rb10

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?

Presumably this amount was credited on 30 September 2012? (This account pays interest on 30 Sept each year).

If so, then the interest you've been paid so far only reflects the period from when you opened the account to 30/09/12.

You'll then be paid further interest on 30 Sept 2013 for the current year.

DragonQ

DragonQ wrote: »

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.

Had a letter a couple of days ago confirming my interest had been backdated to 08/01/2013. Extra £100ish I wasn't counting on.

fras26

rb10 wrote: »

Presumably this amount was credited on 30 September 2012? (This account pays interest on 30 Sept each year).

If so, then the interest you've been paid so far only reflects the period from when you opened the account to 30/09/12.

You'll then be paid further interest on 30 Sept 2013 for the current year.

Ah thanks!

I didnt realise interest was paid on the 30th Sept!

Thanks for clarifying this.

retepetsir

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?

I had the same annual summary statement and same question, was just about to phone Nationwide .

We need to remove the money for our next house deposit so I guess we'll have to wait until September to get the extra interest.

le_loup

Not if you close the account.

june.elizabeth

Got my reply from the Ombudsman re backdated interest. They have sided with Nationwide and said that backdating to January 2013 is a fair outcome. Surprise surprise. Don't know whether to appeal or not what do you think?

veryintrigued

Dont forget that you'll see your interest added online at the end of September with the 4.25% dropping at the end of October (to 2% currently i.e. 1.5% above base rate). This is guaranteed until the end of December when it will no doubt drop again.

irishjohn

Anyone made any plans for moving the cash to another ISA once the rate drops in October ? Or is it too early to decide?

KTF

Given that rates are (probably) going to stay low for many years to come I am wondering if I would be better off putting it towards clearing the mortgage rather than have it sitting in a low paying account for the next few years.

badger09

Transfer to S&S ISA?

Assuming cash not needed for specific purpose, emergency funds available etc etc