Nationwide Flexclusive ISA - 4.25%, instant access

onzey

Gordon_the_Moron wrote: »

I just noticed the sticker on the front of my passbook with "Flexclusive ISA" on it is stuck on upside down lol!

I don't have a sticker, just the Nationwide logo. Is this a cause for concern?

Any other telephone applicants received a 'Signature record' form to be duly signed and returned, which I assume refers to this ISA although the form says "Thank you for choosing a Nationwide Bond"?
3 pages of T&C's were included (covering bonds, saver accounts and ISAs).

DreamerV

Linclass wrote: »

NW once gave me some duff info on another ISA product. Only maturing ISA'S could be transferred into this new product. However I was told I could open up the account and was given the forms to do so. The application got rejected BUT because they told me wrong information, they honoured my application in the end.

I was given duff information too and told I do qualify, then that I do now but my rate would drop very low within the next few weeks as my circumstances change. I checked the t and cs and was not convinced. Messaged them securely and glad I have it in writing that I would indeed qualify despite my circumstance. Still worried that they'll suddenly drop my rate.

Does anyone know if they have to write and tell you/email you if the product is switched to a different ISA? Or if the rate is obvious when looking at the accounts online?

Thanks.

Deneb

Passbooks arrived today for me and my wife. We opened the ISAs in branch on 7/4/12 and the funds had left our Flexaccount by the time we arrived home. Both passbooks dated 7/4, neither has a sticker on the front, just "Flexclusive ISA" handwritten inside the front cover.

Mine came with a letter which simply says, "Please find enclosed your new account passbook". My wife's came with a letter requesting her to produce the passbook and ID at the branch "to update the signature section".

We have been joint Flexaccount holders since 2008, so not sure why the different requirements as we produced our debit cards and had the funds transferred from our account when we applied???

innovate

Paul_Varjak wrote: »

Interest is payable on Saturdays once a credit is made, but credits are only made on a business day. Saturdays, Sundays and Bank Holidays are not business days.

Paul_Varjak wrote: »

7th April was a Saturday. Credits are not added on non-business days. The earliest the credit could be added until 10 April as the 9th April was Easter Monday.

I am afraid, your statements are only - partially - correct if anyone paid by cheque on the Saturday. Due to the website design at Nationwide, I cannot link directly to the Flexclusive ISA T&Cs but if you got to this page, you can click on the T&Cs on the right.

Many (if not all) people paid in from their Flexaccount. Any money that was ready to be transferred into the ISA from the Flexaccount on Saturday April 7 should have been credited the same day. And interest will be paid from the same day, too.

irishjohn

onzey wrote: »

I don't have a sticker, just the Nationwide logo. Is this a cause for concern?

Any other telephone applicants received a 'Signature record' form to be duly signed and returned, which I assume refers to this ISA although the form says "Thank you for choosing a Nationwide Bond"?
3 pages of T&C's were included (covering bonds, saver accounts and ISAs).

I got this letter today - I presume its because I used the telephone service to open the ISA and all my previous admin was done in branch or on line

Gromitt

Since this account gives you a sort code and account number, can we not wait until the account shows up in online banking and then transfer funds via faster payments? I asked to open it with £100 as I didn't fancy £5640 sitting in my FlexAccount waiting to be transferred and they didn't know if they had time to process it today.

(I know it says "Branch access only", but with a S/C & A/C, surely a transfer would work...)

DreamerV

Gromitt wrote: »

Since this account gives you a sort code and account number, can we not wait until the account shows up in online banking and then transfer funds via faster payments? I asked to open it with £100 as I didn't fancy £5640 sitting in my FlexAccount waiting to be transferred and they didn't know if they had time to process it today.

(I know it says "Branch access only", but with a S/C & A/C, surely a transfer would work...)

I opened mine today, and the lady says as soon as it shows online in a few days, you can transfer in money online from your flex account (for example) just like you transfer between flex and e saver accounts, etc.

hermante

Update to my previous post for anyone who is still thinking of switching to the Flex account to qualify for the ISA:

Went into a branch on the 10th, Flex account was opened on the computer with sortcode + account number given instantly. Then had to fill in a form by hand to open the ISA.

FPs into the current account were rejected until the morning of the 12th. The savings manager kept a watch on my current account and opened the ISA once she saw the money had arrived.

Picked up passbook later that day, but it seems like a waste as it's never going to be updated... the sticker on the front cover is the right way up though.

pqrdef

Gromitt wrote: »

Since this account gives you a sort code and account number, can we not wait until the account shows up in online banking and then transfer funds via faster payments?

Yes, but that's for normal people. Some people want to get the interest rate from the earliest possible date.

KTF

My passbook is here (applied April 7). Has a book issued date of April 11 and a hand written account number and balance on page 1 - how quaint

I need to go to the branch tomorrow with proof of ID and address to update the signature section. Will get them to confirm that the interest is from April 7 at the same time.