Nationwide Flexclusive ISA - 4.25%, instant access

beansy

veryintrigued wrote: »

Just 'opened' one too.

I filled in the application form which I assume was a specific one for this account as the staff member had to double check the completed form as 'they've only just arrived'. Am already a current account holder and didnt have to write 'Flexclusive' anywhere.

Frustratingly she advised that the ISA wouldnt be fully open until next week as 'admin staff dont work Saturdays'.

Does this mean I'm losing interest - or will they back date to application date?

I would expect the account to be dated from today as you have deposited your money with them.

Thanks for the info I phoned my local branch on Thurs and a disgruntled lady said they hadn't had the forms yet and therefore, may not be able to open them and pointed out to me the account could only be opened in branch and they close at 12 noon. So it may be best to leave my visit until Tues. Interesting to see that the standard ISA forms can be used as indicated by KTF above!!

Will get ready and pop into town now (only 5 mins away).

Zekko

I went into my local NW branch at 9am this morning to open one of these ISA's. Full years allowance to be transferred from my Flexaccount.

Only problem was they didn't have any Passbooks to give me, so NW will send it via 1st Class Post from next Tuesday, with interest back-dated to the 7th April.

ylesia

I just popped in to local branch, no queue! Just 3 very bored looking staff lol! Filled out specific form and they gave me one away for my hubby (he works on Saturday mornings) - they didn't have any passbooks either but said interest would accrue from today I was in and out of branch in 5 minutes.

princessdon

If we opened the Nationwide Flex as a joint account - does anyone know if 2 x ISA's can be used?

KTF

princessdon wrote: »

If we opened the Nationwide Flex as a joint account - does anyone know if 2 x ISA's can be used?

I believe this has been asked before and the answer was yes.

innovate

Applied for mine this morning, after agreeing to transfer some direct debits to my dormant Flexaccount, and to pay in at least £750 every month from now on.

Ironically, they then couldn't transfer my £5,640 that I had readied in my Nationwide esaver - - - they can only take money from my Flexaccount! esaver to Flexaccount transfer must be done online, not possible in Branch. But they promised they'd put the money into the ISA today if I made it available in the Flexaccount.

No queues in my Branch, btw, and my application etc was done in less than 15 minutes. I did have an appointment, though.

pqrdef

beansy wrote: »

I would expect the account to be dated from today as you have deposited your money with them.

I wouldn't expect anything to be dated to a Saturday, it's not a banking day.

Funny how people expect banking to be 24/7 now.

innovate

pqrdef wrote: »

I wouldn't expect anything to be dated to a Saturday, it's not a banking day.

Funny how people expect banking to be 24/7 now.

Interest is calculated daily, weekday or weekend. If you pay in today, the interest is due from today, and that's why they pay it from today.

Edit: the gory T&C detail is here. So if you pay by cheque, that doesn't count as "paid in today"

Paying Money In

1. Cash and automated credits deposited into the account will earn interest from the date of deposit.
2. There may be a delay of one working day if deposits are made at a Nationwide cash machine. We will credit your account with the amount which has been verified and accepted by us when we check the deposit.
3. Banking of cheques for payment will at all times be subject to the rules, and clearing processes, of any cheque clearing system(s) used by us. There are three elements in the cheque clearing cycle:
   1. clearing for interest (when we start paying interest on any cheque you deposit with us);
   2. clearing for withdrawal (when we will allow you to withdraw against any cheque you deposit with us);
   3. clearing for certainty (when you can be certain that we will not debit any cheque you deposit with us which is returned unpaid (unless you are a knowing party to fraud), without your permission).

The period of each of the above elements is detailed below..............

le_loup

KTF wrote: »

the passbook should be within the week.

I got mine there and then. Smalltown branch, no queues.

fireice

I have a flexaccount but I haven't put £750/month into it over the last 3 months, does that mean I have to wait 3 months before I can open this?