Nationwide Flexclusive ISA - 4.25%, instant access

rb10

adindas wrote: »

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

If the Leeds account allows transfers in, you can transfer:

a) The whole balance of your Nationwide Flexclusive ISA, or

b) Your full 2013/14 allowance, plus any amount from previous years, or

c) Any amount from previous years.

Hooloovoo

For anyone still following this thread, I have today received the final decision from the FOS.

They have still rejected my case.

Apparently when and whether to accept transfers in to an ISA product is a commercial decision for the financial organisation to make, even though they accept that the terms and conditions are "silent" on the subject of transfers.

So there we go, I have it in writing that financial terms and conditions are all completely meaningless. That's good, I'll have to make sure I remember that in future.

Oh well, at least there is only one more day to go and I can transfer everything away from this shower of fe ckwits.

chopperward

Anyone know how I can work out how much interest I will receive for this account before the interest rate drops. Shall I just x 4.25, and obviously divide by 100 and divide by 12 or is it worked out per day?

I want to work out how much I'll get so I can leave £1 in the account just in case no decent rates are available in April.

rb10

chopperward wrote: »

Anyone know how I can work out how much interest I will receive for this account before the interest rate drops. Shall I just x 4.25, and obviously divide by 100 and divide by 12 or is it worked out per day?

I want to work out how much I'll get so I can leave £1 in the account just in case no decent rates are available in April.

Interest was last paid on 30 September. There were 31 days at 4.25%, so you get [balance]*0.0425/365*31 for October.

Where are you moving your balance to?

chopperward

Thanks rb10. I'm going to put it in the Cheshire issue 3. 2.25% until next October. Not great but will do for now. I was going to leave it with nationwide but I guess the rate will go down further.

leaphaze

chopperward wrote: »

Anyone know how I can work out how much interest I will receive for this account before the interest rate drops. Shall I just x 4.25, and obviously divide by 100 and divide by 12 or is it worked out per day?

I want to work out how much I'll get so I can leave £1 in the account just in case no decent rates are available in April.

Not sure I'm understanding this. If you want to leave £1 behind you just move the current balance less £1. Interest won't be paid until next September. Or am I missing something here? (Probably!)

le_loup

chopperward wrote: »

I want to work out how much I'll get so I can leave £1 in the account just in case no decent rates are available in April.

So, you have an account still open with £1 in it to which you can add no further money.
What's the point exactly?

dfh4

I opened this account last year and transferred in additional funds that was allowed up until May this year. Interest was added on 30 Sep 13, with the transferred balance being backdated to 8 Jan 13, and shown on my online account as having been capitalized. Subsequently I was told by Nationwide that they have mistakenly paid me double interest and made a correction on my account. My worry now is that other members' holding this account with transferred in amounts may have their interest subsequently reduced. I have made a formal complaint and would like to know if anyone else is in the same position as me. You may have to get you passbook undated for this to show.

typistretired

chopperward wrote: »

Anyone know how I can work out how much interest I will receive for this account before the interest rate drops. Shall I just x 4.25, and obviously divide by 100 and divide by 12 or is it worked out per day?

I want to work out how much I'll get so I can leave £1 in the account just in case no decent rates are available in April.

They will not add any more interest unless you transfer the whole isa out to another isa. You will have to wait until September 30th 2014 if you leave anything in the account.

dfh4

Re my previous post, if you use Nationwide internet banking check if interest on your Flexclusive account was added 30 Sep 13 and subsequently corrected with an interest deduction on a following date. For some reason my local branch was unable to update my passbook, which I think is due to them discovering their error.
Any information greatly appreciated.