Nationwide Flexclusive ISA - 4.25%, instant access

adindas

innovate wrote: »

Get yourself a FlexDirect account. This qualifies you for the ISA with no need for minimum monthly deposits.

Though it's a lovely account to use to save up for an ISA deposit because you can get 5% AER for 12 months if you deposit £1,000 a month.

Currently I already have 3 flexi a/c with NW and I always pay £1000 to maintain 5% interest. Aim to open the fourth one shortly. I also have 1 flex AC and pay £750 monthly to get a free travel insurance.

Appreciate opinion/advice if there is still any room left to improve my ISA interest rate after 31 October 2013? Do not mind to switch it to another provider.

roddydogs wrote: »

I had NW 3.1%, just moved it over to NW online web isa, @ 1.5%, you might get 1.75% (I E) if you really try. Its all a savings rip off now.

Is this for new ISA or for old ISA ? Link might be useful so people could learn more.

Looking also advice from Other people. I topped up my Flexclusive ISA April 2013 this year to benefit 4.25% interest ? If the new ISA pay a better interest rate is there anyway to split them into two ISAs, new and old ? I will put the new ISA, the current ISA subscription of £5640 to a different ISA account to earn a better interest ? and I will keep the old one to wait for a better ISA.

I am aware that the interest rate with Flecusive ISA will be around 2% from 1 November 2013 until I January 2014 (1.5% + BOE basic interest rate). But considering the inflation rate is currently 3.3% this is not a decent interest rate from inflation POV.

DragonQ

There are no cash ISAs paying 3.3% right now, I think even the 5 year fixes are 3% (madness).

chopperward

Going to transfer mine into the Cheshire Isa issue 3 I opened in April. Currently 2.3% and bonus expires October 2014. Just a quick question. Will I be able to transfer into another Isa if something better crops up? What I will do is keep the money in the Cheshire for the full year at least, and then I should be in my rights to transfer all out.

Do you guys think anyone will offer over 2.3% in April at this early stage of guesstimating?!

chopperward

Going to transfer mine into the Cheshire Isa issue 3 I opened in April. Currently 2.3% and bonus expires October 2014. Just a quick question. Will I be able to transfer into another Isa if something better crops up? What I will do is keep the money in the Cheshire for the full year at least, and then I should be in my rights to transfer all out.

Do you guys think anyone will offer over 2.3% in April at this early stage of guesstimating?!

DragonQ

You can transfer as much as you like whenever you like, as long as your current tax-year's deposits are all in one account.

How they actually determine that, I have no idea, e.g. if you deposit £300 then transfer in £500, then transfer out £400, does that £400 come out of the £300 deposited or not?

typistretired

chopperward wrote: »

Do you guys think anyone will offer over 2.3% in April at this early stage of guesstimating?!

Nobody knows what rates will be offered just have to keep an eye on any new isas with a decent rate coming out as they are soon fully subcribed

Uplink

DragonQ wrote: »

You can transfer as much as you like whenever you like, as long as your current tax-year's deposits are all in one account.

How they actually determine that, I have no idea, e.g. if you deposit £300 then transfer in £500, then transfer out £400, does that £400 come out of the £300 deposited or not?

That's an easy one. You have a tickbox on the transfer form about whether you want the current year's funds transferred or not. You can transfer the current year only as a whole. Everything else is called "past years". They don't even have year labels unless you look at the history of the account.

Archi_Bald

Uplink is 100% spot on.

http://www.hmrc.gov.uk/isa/faqs.htm#6

If you want to transfer the money you have put into your ISA in the current tax year, you must transfer all of it.

adindas

I currently have Leeds Building Society online ISA paying 2.55%.
My current year ISA subscription £5460 is with NW and mixed up with old ISA.

Anyone knows whether LBS allow this if I transfer £5460 this year ISA to my LBS ?

Thanks

le_loup

What are LBS terms and conditions for this account? Or do you want me to look them up for you?