Nationwide Flexclusive ISA - 4.25%, instant access

KTF

Paul_Varjak wrote: »

I note that one person said their passbook was handwritten; clearly, they are having some problems!

My passbook account details and balance was handwritten. I dont see this as an indication of a 'problem' as they said when I opened it that someone in the back office would process the form and send out a passbook in a few days.

Its probably quicker to fill out a load of passbooks by hand than feed each one into the printer each time.

Its a popular account so there are going to be delays in processing related to it. At the end of the day the interest is backdated to the date that you opened it, you can pay in over the phone if needed and if you were planning to take out the cash whtin a week or so of opening the account then maybe this account wasn't the correct one to open...

KTF

Paul_Varjak wrote: »

Everything about this ISA suggests it was a last minute decision to launch.

What makes you say that?

bondy01

Got my passbook today after applying via phone last wednesday. Only sent the signature form back yesterday when the account no./reference arrived so I wonder if that could cause an issue if I wish to withdraw. Suspect I'll have to go into a branch at some stage to get that validated. Loved the bit on the form where it said use block capitals , bearing in mind the only letters you write on there is your signature!
I rung that 0800 number but got transferred by the 1st person to the wrong department so got transferred to a 3rd person. At the end she gave me that 0800 number!

pqrdef

Paul_Varjak wrote: »

If the Flexclusive ISA has a sort code and account number you should be able to pay in on-line irrespective of whether the ISA appears in on-line banking or not

But Sod's Law says, if you're not able to check that the money has arrived, it won't arrive.

DragonQ

I hope my passbook and internet banking details arrive soon, I want to put the rest of my allowance in there ASAP. I've received two letters so far from Nationwide since opening my account last Thursday but both have been pointless (one "welcome" letter, another "ISA declaration"). Obviously they have to send that stuff out but the more important and practical stuff would be nice!

bondy01

DragonQ wrote: »

I hope my passbook and internet banking details arrive soon, I want to put the rest of my allowance in there ASAP. I've received two letters so far from Nationwide since opening my account last Thursday but both have been pointless (one "welcome" letter, another "ISA declaration"). Obviously they have to send that stuff out but the more important and practical stuff would be nice!

Have you got the one that has the account ref no. but not the sort code or account no.? There is also another letter that I think comes with passbook headed your account is now open. "Please allow 3 days before you credit new funds to the account....." The passbook has the sort code and account no. in addition to the account no./reference.

badger09

DragonQ wrote: »

I hope my passbook and internet banking details arrive soon, I want to put the rest of my allowance in there ASAP. I've received two letters so far from Nationwide since opening my account last Thursday but both have been pointless (one "welcome" letter, another "ISA declaration"). Obviously they have to send that stuff out but the more important and practical stuff would be nice!

Me too, though I haven't received anything yet. Account number would be enough Opening sum has disappeared from Flexaccount so hopefully won't be too long.

Nine_Lives

I can't remember who it was who said it, but someone mentioned consolidating ISAs as a way around the no transfers in (i.e. switch your ISA to Nationwide & then consolidate).

I called about this & was told "NO". So the max you can have in is £5640, end of, no ways around it.

onzey

K_P83 wrote: »

So the max you can have in is £5640, end of, no ways around it.

Although the T&Cs say "The maximum balance on the account is £5 million" :eek:

rb10

Hooloovoo wrote: »

I don't really understand why it's so difficult for them to show the account on online banking.

Whatever the backend software is doing regarding creating a new account type, surely it's more difficult to create an account that is somehow different and can't be shown with the current banking software?

I mean this is the kind of bug where I would actually have to specifically write code to make it do it. It's not something that could happen by accident. Even if this account type was a last minute decision, how can it possibly be any different to any other account that can be shown by their internet banking? Don't they just create a new account type in a database, give it a name, interest rate, and bonus expiry date, and that's it?

I do wonder sometimes who runs these organisations

Most banks operate off computer systems that were created in the 1970s, so did not account for things like internet banking.

They also don't allow accounts to simply be created as a new entry in a database - to make a new account requires, in general, 12-24 months' work. This is why most banks will tweak existing accounts, rather than introduce completely new ones.

Once banks' computer systems have joined the 21st century (with Nationwide, this'll probably be in the next year or two, and other banks likely to follow in the next 3-5 years), then the activity you describe will be possible. Until then, however, whilst our accounts may give off the image of living in the 21st century, they sit firmly on a 20th century computer system.