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Nationwide Flexclusive ISA - 4.25%, instant access

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Comments

  • Paul_Varjak
    Paul_Varjak Posts: 4,627 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    K_P83 wrote: »
    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).

    It was me! I have my consolidation form and will be sending it off once I know the account number of the Flexclusive ISA. T&Cs suggest it is not allowed, but humans are fallible.
    K_P83 wrote: »
    I called about this & was told "NO". So the max you can have in is £5640, end of, no ways around it.

    The maximum you can have in the account is £5 million but no-one will reach that even if they do manage to beat the transfers-in rule. Any rate guarantees end on 1st January 2014, so I doubt that any serious saver will keep their monies in this ISA much after that date anyway.
  • Nine_Lives
    Nine_Lives Posts: 3,031 Forumite
    You may get lucky, you may not. Only 1 way to find out.

    However i'd like to know how you can have a balance of 5mil if you aren't allowed transfers in.

    Not only that, if from the very first day ISAs began, and you invested the full cash limit in the top paying account ..... would you even have 5 mil in ISAs?
  • Paul_Varjak
    Paul_Varjak Posts: 4,627 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    badger09 wrote: »
    I opened mine this morning and picked up an application form for my husband. I was told not to delay returning his completed form as the account would be withdrawn on 6th May :eek:

    I spoke to a very knowledgeable agent from Nationwide today who also checked with their manager. They have no knowledge of this and also tell me that they are only ever given 4 days notice of new accounts or any information on accounts ceasing their life. In effect, they only know of any new accounts on the same day that Nationwide issues its press releases.

    It is possible, I guess, that there can be some leak of information and the person you spoke to is correct. It is equally possible that the account may be placed on hold temporarily, whilst they clear the backlog of new applications - this certainly happened on a number of occasions to Derbyshire Building Society's on-line savings account last year. And it happened simply because Derbyshire could not cope with the demand (and this came direct to me from a Derbyshire employee who was one of the people involved in setting up this account)

    Of course, if you open the account before 6 May you will still get the current advertised benefits and you will still be able to add monies after that date, even if it does close to new applications on that date.
  • thenudeone
    thenudeone Posts: 4,462 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    K_P83 wrote: »
    Not only that, if from the very first day ISAs began, and you invested the full cash limit in the top paying account ..... would you even have 5 mil in ISAs?

    No. About £100k tops in Cash ISAs, if you include TESSAs as well.
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  • Paul_Varjak
    Paul_Varjak Posts: 4,627 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    K_P83 wrote: »
    You may get lucky, you may not. Only 1 way to find out.

    However i'd like to know how you can have a balance of 5mil if you aren't allowed transfers in.

    Not only that, if from the very first day ISAs began, and you invested the full cash limit in the top paying account ..... would you even have 5 mil in ISAs?

    The short answer is that you won't but Nationwide currently place a limit of £5 million on all their savings products except Cashbuilder.

    I trust that answers your question.
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    Hooloovoo wrote: »
    I don't really understand why it's so difficult for them to show the account on online banking.
    It might be that its on a different system. It wouldn't be the first time Nationwide have "white boxed" an account from another bank. Look at their mySave for example.
  • fabkids
    fabkids Posts: 78 Forumite
    Mine are showing online now.

    :j
  • KTF
    KTF Posts: 4,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Mine is there as well.
  • DreamerV
    DreamerV Posts: 823 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Mine too, looks like they may process them in large batches. :) But now the money I tranferred across to put in it is in no man's land between FirstDirect and Nationwide :( It said it can't transfer when I tried lastnight, and asked if I want it to try today, to which I said yes. Now I've checked, and it has left the account a few hrs ago. Here's hoping it will arrive :/
  • Hooloovoo
    Hooloovoo Posts: 1,281 Forumite
    edited 18 April 2012 at 9:15AM
    Mine too! And I only handed in my application form to the branch last Thursday.

    I take back my whinging ... that was pretty quick!:j

    And it appears in the "transfer to" dropdown list for sending cash from my Flexaccount. Woo!
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