Nationwide Flexclusive ISA - 4.25%, instant access

le_loup

Both.
........................

rb10

snowcat53 wrote: »

I certainly won't be transferring my main account to NW , whose online systems are Jurassic (last time i looked), but happy to set up a 750 Standing order in monthly , with a 750 SO back out a day later. ...

I guess you haven't looked for a while then ... their online banking is now all updated and new.

If you're doing a standing order, then you'll need to leave more than a day between payments, as they only operate on weekdays. One-off FPs is a better way to do it if you are not transferring your current account.

DragonQ

snowcat53 wrote: »

I certainly won't be transferring my main account to NW , whose online systems are Jurassic (last time i looked), but happy to set up a 750 Standing order in monthly , with a 750 SO back out a day later. ...

I believe you have to transfer 2 direct debits.

chopperward

Quick question I hope someone can answer.

I recently went to a NW branch to set up my ISA that was dues to mature end of March.

I decided to put the money into Nationwides 1 year ISA (3.1%)

Do you think they'd allow me to open the Flexclusive (4.25%) and put all the Nationwide 1 year ISA cash into the Flexclusive?

It's not as if I've added 2012/13 funds (not possible yet) into the 1 year ISA.

I'd also pay in the whole 2012/13 allowance next week, so hopefully this would allow me to do it!

I have paid in £750 to flexaccount for 3 months so qualify.

Thanks for any info

rb10

chopperward wrote: »

I decided to put the money into Nationwides 1 year ISA (3.1%)

Do you think they'd allow me to open the Flexclusive (4.25%) and put all the Nationwide 1 year ISA cash into the Flexclusive?

No, since the 4.25% account does not accept transfers-in of previous years' funds.

You can, however, open the Flexclusive ISA (branch or phone, I believe), and pay in your 2012-13 allowance in there.

KTF

I already transferred last years ISA into the Santander 2 year fix and have next years allowance sitting in a Santander e-Saver ready to transfer on Friday then this comes along.

Debating whether it is worth the faster payment out, going to the local branch on Saturday (already a NW customer) to open one of these or just top up the Santander ISA instead.

There is £15 difference in NW favour based on the spreadsheet I have put together....

DragonQ

Just got off the phone with them and they answered some questions:

- £750 per month can be manually transferred rather than being a salary deposit (as long as it's from a non-Nationwide account)
- You don't have to transfer all of your direct debits if you apply and switch in branch. If you apply and switch online, all direct debits must be transferred. The account you're switching from will remain open in either case.
- You can apply for the Flexclusive ISA as soon as you've applied for and been approved for a FlexAccount, and started the switching process. You don't have to wait for the switch to complete.
- Payments into the Flexclusive ISA must be made from your FlexAccount. The FlexAccount has online access so you can transfer funds to it, then go into a branch to ask them to internally transfer £5640 into the Flexclusive ISA.
- The Flexclusive ISA will be available for 18 months (I don't really believe this, they may have misunderstood me even though I clarified).
- Transferring out of the Flexclusive ISA is done in the normal way (so no branch visit necessary).

So, even though it's a branch-based account you should be able to get this ISA with just two visits (assuming you plan to leave the money untouched) - one to open a FlexAccount and switch direct debits to it, and another to open the Flexclusive ISA and deposit money into it.

Nine_Lives

I think this is a load of rubbish personally.

Great for people who work 5 day weeks, Mon-Fri, but terrible for people like myself who work Mon-Sat every single week.

I've no chance of opening one. The next best thing because i'm penalised for working Saturdays is Santander at 3.3% - almost a full 1% less.

DragonQ

Don't the AA still have their 3.5% Postal Access ISA? Before that they also had a 3.5% Internet Access ISA.

Nine_Lives

Oh yeah, i forgot about the AA. This was because i don't really like postal only accounts tbh. I like online access.

I can get 3.5% through my Santander 1yr ISA, so that's a drop of 0.75%. Still not to be sniffed at.

I would have to see if i could finish work early, but then that means a loss in pay & whether finishing early to open the 4.25% will pay off over the year (or whether the loss in part of that days pay will erase any saving the 0.75% may get me).