Nationwide Flexclusive ISA - 4.25%, instant access

DragonQ

irishjohn wrote: »

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

My options are basically 2% in Flexclusive, 2.5% in Yorkshire BS (40 day notice for withdrawal), open a Santander 123 account for 3% (but have to pay the fee), or maybe get 4 Bank of Scotland vantage accounts (assuming that's allowed since I already have Lloyds TSB ones).

I don't really need the tax-free wrapper since the money will be going on a house deposit eventually and I pay no tax anyway. But there's always the issue of future interest rates - ISAs tend to have better rates than normal savings accounts, so withdrawing all the money now will likely lead to lower interest rates in the future (because of losing previous years' ISA allowances).

Archi_Bald

DragonQ wrote: »

...., or maybe get 4 Bank of Scotland vantage accounts...

How do you get 4 of them?

DragonQ

I thought 4 was the maximum? I certainly had 4 Lloyds TSB Vantage accounts at one point.

badger09

IIRC maximum number of LTSB and BoS Vantage accounts is 3 (each).

Too tired to search for T&C

Archi_Bald

DragonQ wrote: »

I thought 4 was the maximum? I certainly had 4 Lloyds TSB Vantage accounts at one point.

4 might have been possible in the past but I thought 3 was the max now. I would be very happy if I was wrong and it was 4 - - how current is your knowledge about their max?

badger09 wrote: »

Too tired to search for T&C

and me....

DragonQ

Well even if it's 3 that should be fine for me if I go that route. I have 3 Vantage accounts right now but I'm sure I had a fourth at one point.

Archi_Bald

A bit careless of you to lose the number 4 account....

DragonQ

Archi_Bald wrote: »

A bit careless of you to lose the number 4 account....

I switched it and didn't have any reason to keep it open after using my ISA allowance.

Doshwaster

irishjohn wrote: »

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

I've just started looking at the options. I have a 3.1% rate expiring in October and a total account value of about £10k.

I don't qualify for the Flexclusive ISA but none of the other Nationwide alternatives look especially attractive. I'm going to consider switching contributions (£150 per month + a few lump sums when I have spare cash) to paying down my mortgage as the current ISA balance is sufficient "rainy day" money for me.

typistretired

Could you not open a Nationwide flexdirect account so you would qualify for the flexclusive isa