Nationwide Flexclusive ISA - 4.25%, instant access

innovate

K_P83 wrote: »

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.

Time to look for a job where you get more than one day's rest a week? And the occasional holiday? Oh I know - - you don't have time to look for a new job because you only ever have Sundays off

Nine_Lives

innovate wrote: »

Time to look for a job where you get more than one day's rest a week? And the occasional holiday? Oh I know - - you don't have time to look for a new job because you only ever have Sundays off

I should look for another job, but that's a separate issue.

We used to have 1 Saturday off in 3, which was ok. That's when our department "ran" it. But then HR got involved & it's all over the shop now. The current rota has me working 4 in a row. Another lad works 2 & is off for 2. Another lad works 3 & is off 1 out of the 4 weeks on the rota.

I sure hope i get next Saturday off as i'm due one!!!

Frank121

Hi All,

I posted in the AA thread that the when I spoke to the AA the other day about their postal account; the rep hinted that some new "online" accounts would appear in the new tax year - perhaps after Easter. Might be worthing seeing what they will offer.

If the Nationwide account can be opened over the phone then that might be an option. I have a Llyods vantage account which is used for savings only so this can be used as a "mule" for two direct debit's if that's all that's needed to comply. (The £750 can just be mnually turned around using faster payments)

Cheers.
Frank

sscott5581

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 have my main account with Nationwide and their online banking is excellent with lots of useful features. The site has been recently updated perhaps you should take a look.

gt94sss2

Looking at this ISA, it looks like one has to read the (not so small) print!

The Nationwide variable rate ISA will be paying:

4.25% to 31 October 2013; and then
2.00% from 1 November 2013 (for 2 months)

(assuming the base rate doesn't change)

I have to compare this to opening a 4% fixed ISA at Santander until May 2014.. (with the possibility of an extra 0.1%)

Regards
Sunil

DragonQ

I don't see how that's relevant. This is an instant-access ISA (well, as instant as you can get when you have to go into a branch), with 4.25% for 19 months, even rising with the base rate. You can't really compare it to a fixed-rate ISA.

hermante

DragonQ wrote: »

I don't see how that's relevant. This is an instant-access ISA (well, as instant as you can get when you have to go into a branch), with 4.25% for 19 months, even rising with the base rate. You can't really compare it to a fixed-rate ISA.

And there will probably be accounts for 4.5% or so in April 2013, which you could transfer to.

pqrdef

The other catch here is that you have to have the full debit card, and they haven't always been too keen to give that to new customers.

But personally I can't understand what they're playing at. They're a mutual building society, not a bank. Current accounts aren't their core business. I've been a loyal customer for over 20 years - mortgage, insurance, e-savings, ISAs. The one thing I don't do is use my Flexaccount as my main current account. What's this obsession they've got with current accounts? And if they're aiming to attract new customers, why are they making out it's a loyalty perk?

They annoyed me when they wouldn't open a Derbyshire Monthly Saver by post, but only in branch. Now they've annoyed me some more. I think my slush fund will be walking from Derbyshire to Nottinghamshire this Easter. Nationwide need to figure out who their customers are.

rb10

pqrdef wrote: »

But personally I can't understand what they're playing at. They're a mutual building society, not a bank. Current accounts aren't their core business.

Are they not allowed to diversify out of their traditional business? Diversification will help to make the business model more stable, and so be of benefit to all their members.

I take it that you also don't approve of banks offering savings accounts then, since this is not their traditional core business?

Times have changed, and businesses develop and move on.

pqrdef wrote: »

What's this obsession they've got with current accounts? And if they're aiming to attract new customers, why are they making out it's a loyalty perk?

Is the aim of this to attract new customers though? It is surely cheaper to retain existing customers than to attract new ones, and this will help to make their existing customers feel valued by Nationwide.

dggar

Has anyone managed to work out when interest is paid on this account? I can't seem to see it in the publicity from Nationwide.

I would be looking for intest to be paid monthly.