Nationwide Flexclusive ISA - 4.25%, instant access

alph

rb10 wrote: »

Nothing at all, until they tell us otherwise.

I asked Nationwide what the interest rate would be from 1st Jan 2014 on this Flexclusive Isa a few days ago via secure messaging.


I also am keen to know if this is going to fall from the 2% that we are on at the moment, just so I can start looking for something better...


There reply was, they do not know and can not tell me what the rate would be from 1st Jan 2014.??


1st Jan is only 2 weeks away... I would have thought they would know something by now??

libra10

They're very cagey these financial institutions

My husband and I have quite a few flexclusive accounts, both ISAs, regular savings, and instant access. It becomes confusing which account is which!

In the new year we are going to have to check them out as I'm sure that a couple of matured flexclusives can be consolidated now that the higher rates have finished.

njp6

NW Isa T&C require them to give a minimum of 30 days notice of change to the rate so it should stay at 2% until for at least another 30 days as no notification in place yet.

dip86

Just received a letter dated 7th January notifying me that they will be reducing the rate to 1.5% from the 1st February 2014! So much for 30 days notice! What are my options? Do I complain or just put up with it and look to switch?

rb10

dip86 wrote: »

Just received a letter dated 7th January notifying me that they will be reducing the rate to 1.5% from the 1st February 2014! So much for 30 days notice! What are my options? Do I complain or just put up with it and look to switch?

14 days is the guidance they should be adhering to, not 30.

They've given you 19 days' notice, so (just) over the requirement.

RedRuby_2

I too got a letter yesterday saying that the interest rate was going to be cut to 1.5% from the 1st Feb and my first thought was that they are supposed to give me 30 days notice.

Thought i would pop in here to see what others are doing as I was going to complain but i need to find out if its 14 days notice now!

Hooloovoo

I've have subsequently transferred all my ISA savings into my S&S ISA.

I will be having nothing more to do with Nationwide.

bondy01

If you look on the nationwide site there is an issue 6 paying 1.75% (no transfers in! - see they didn't like that loophole) and it says 30 days notice of variation in interest rate.

Archi_Bald

bondy01 wrote: »

If you look on the nationwide site there is an issue 6 paying 1.75% (no transfers in! - see they didn't like that loophole) and it says 30 days notice of variation in interest rate.

That is only for new ISAs, not for the existing ones which started out at 4.25%.

bondy01

Archi_Bald wrote: »

That is only for new ISAs, not for the existing ones which started out at 4.25%.

Have you a copy of the t&c's where it says 14 days? I like others thought it said 30 days but am happy to be proved wrong..