Nationwide Flexclusive ISA - 4.25%, instant access

le_loup

Rate drop is to 2.00%. I think it drops further in January.
Some of mine will be joining my S&S ISA.

DragonQ

There are no ISAs around with a rate higher than 2% unless you're lucky enough to qualify for one of several special accounts (e.g. you have £50k+, are in Yorkshire, are happy with branch-only access, are an HSBC Premier customer, etc.).

Might as well stick with Nationwide's 2% rate until January at least. The Issue 4 is 2.25% until the end of 2014 but it doesn't allow transfers in so I doubt they will allow anyone to convert their Issue 1 to Issue 4.

rb10

le_loup wrote: »

Rate drop is to 2.00%. I think it drops further in January.

As you say, it drops to 2% from 1 November.

It then tracks at least 1.5% above the BoE base rate until 1 January (so in practice will stay at 2%).

From January it just becomes variable - there's no definite drop, but from this date Nationwide is permitted to drop the rate.

It's essentially going to remain at 2% until Nationwide tell us otherwise.

tomwakefield

DragonQ wrote: »

There are no ISAs around with a rate higher than 2% unless you're lucky enough to qualify for one of several special accounts (e.g. you have £50k+, are in Yorkshire, are happy with branch-only access, are an HSBC Premier customer, etc.).

Britannia are offering 2.25% fixed until 30/9/15 with withdrawal restrictions.

rb10

tomwakefield wrote: »

Britannia are offering 2.25% fixed until 30/9/15 with withdrawal restrictions.

The 'withdrawal restrictions' are pretty significant ... loss of 6 months' interest.

DragonQ

Exactly, that cannot be considered an instant access account.

njp6

Whilst the T&C for this account lets them lower the rate to 2% the loyal customer that NW prides itself on should expect them to match the current flexclusive ISA rate (2.25%) I will be writing to them to this effect and see what they come back with.
It's worth a go as my Dad used to say if you don't ask you wont know!

patgc

NJP6, which ISA are you talking about. Have just looked on their site and the Flexclusive one I saw was 2%. Have I missed something ?

njp6

Sorry I didn't check current rates and blow me they changed to issue 5 on the 17th September must be getting ready for all our complaints!
I am struggling to keep up with these devious tactics.
no point putting pen to paper then.
sorry once again to have misled you all.

leaphaze

DragonQ wrote: »

Might as well stick with Nationwide's 2% rate until January at least. The Issue 4 is 2.25% until the end of 2014 but it doesn't allow transfers in so I doubt they will allow anyone to convert their Issue 1 to Issue 4.

Is there anything in the T&Cs for Issue 4 that prevents this? This is a transfer within NW not a transfer into NW.

Ever hopeful!