Nationwide Flexclusive ISA - 4.25%, instant access

Paul_Varjak

DragonQ wrote: »

Yeah I just called them up and they confirmed this. Apparently you have to use the generic sort code and generic account number (the one with loads of 3s) and then the reference should be the 9 digit number after the slash in your passbook.

I'll do it when I get home, to get that interest rolling!

Yes, it is a generic number sort code/account number. And, yes, you do need the reference for your specific account as well. I think you need the full reference i.e.: xxxx/xxxxxxxxx, not just the final 9 digits.

DreamerV

Paul_Varjak wrote: »

Yes, it is a generic number sort code/account number. And, yes, you do need the reference for your specific account as well. I think you need the full reference i.e.: xxxx/xxxxxxxxx, not just the final 9 digits.

Is this long reference the number you put on your nationwide bond signature slip?

Paul_Varjak

DreamerV wrote: »

Is this long reference the number you put on your nationwide bond signature slip?

You do not need to return the signature slip. I guess you must have opened the account by phone?

Their phone service for these ISAs is managed by the bonds department and bonds require a signature but they are unable to distinguish ISA applications from Bond applications so the signature slips get sent out for the Flexclusive ISAs too, but they are not required. Just ignore the signature slip, you don't need to return it.

libra10

My husband and I both opened these ISAs with no problems.

The passbooks were sent within a few days, and the account is now showing online.

We both have to take to passbooks to the local branch (along with ID) and provide our signature.

I think that having to provide ID to open the account and when we provide signatures on the passbook, is over the top, especially as the funds were transferred from our joint Nationwide flex account.

Very efficient service from Nationwide.

rb10

DragonQ wrote: »

Got my passbook today but still no internet banking login details, which means although I can fund my FlexAccount, I can't then fund my Flexclusive ISA.

>_<

Telephone?

Fingerbobs

Did anyone else's passbook come with a blank sheet of Nationwide headed paper and nothing else?

FurryPaws

Thought I'd tell you of my situation..

I put the paperwork in to open a Flexclusive ISA at the end of last week with a small deposit of £50.

On Friday 13th (!) they put £5640 into my Flexaccount and instantly removed it. At that stage I had no idea where the money was coming from or going to as I didn't know the account number of the new ISA.

Fast forward to tonight I check and see the new ISA online. They had magically the new £5640 from outer space and placed it into my new ISA and then removed it. It is now credited with my £50.

I called NW tonight to express concern. They say it's a system error! I'm very worried that this will totally invalidate my ISA allowance for this year - and compound interest for further years. They say it won't..

Anyone any advice?

badger09

FurryPaws wrote: »

Thought I'd tell you of my situation..

I put the paperwork in to open a Flexclusive ISA at the end of last week with a small deposit of £50.

On Friday 13th (!) they put £5640 into my Flexaccount and instantly removed it. At that stage I had no idea where the money was coming from or going to as I didn't know the account number of the new ISA.

Fast forward to tonight I check and see the new ISA online. They had magically the new £5640 from outer space and placed it into my new ISA and then removed it. It is now credited with my £50.

I called NW tonight to express concern. They say it's a system error! I'm very worried that this will totally invalidate my ISA allowance for this year - and compound interest for further years. They say it won't..

Anyone any advice?

I wouldn't be too concerned.

Make a note of the events, the phone call, and the name of the person you spoke to. If you want to be doubly sure, you can email them through the secure message service when logged into your account. That way, you'll have their reply in writing should anything untoward happen

innovate

Natinwide p***d me off royally now. Bear with me please on what happened.

I went to the Branch on April 7 2012, was promised I could open the Flexclusive ISA on the very day even though my Flexaccounts had been dormant for a while - but since I was willing to sign to have DDs and SOs transferred to Nationwide on the day, all was fine, and I signed the account switch form and the ISA application.

I had £5,640 sitting in a Nationwide esaver on April 7 2012, ready to be transferred into the Flexclusive ISA. What I didn't know is that a Nationwide Branch can't take money from an esaver, it's got to be in a Flexaccount or some "Branch"-account. You can't transfer your money in Branch unless you yourself are able to log into your online Nationwide banking there and then (I couldn't do that, don't remember my login details, and don't have any login notes on me when I am in town). So I promised to make the £5,640 available in my Flexaccount by 11am on April 7 2012. Rushed home and transferred the money online. (Transfer is of course instant because it is an internal transfer. Mightily pleased with myself that I got this fantastic ISA)

Money had not been moved from Flexaccount to Flexclusive ISA by end of April 10 2012. I called the Branch, the advisor I was dealing with only works Wed - Sat, but I was assured by someone else there was no problem, my interest would be back-dated to April 7 2012, and I should stop worrying.

April 11 2012 comes, mid-day, and still my £5,640 sits in my Flexaccount. So I call the Branch again, request callback from advisor I saw on April 7 2012. She does call me back, saying I shouldn't worry, I would get interest from April 7 2012. The £5,640 disappears from my Flexaccount on the same day. I know (I think!) where it went, but there's nothing online that confirms it went into the Flexclusive ISA.

Fast forward to April 17 2012, the day I next hear anything from Nationwide. A letter telling me what I already know - - the words of the ISA declaration I have signed. Nothing visible online about the Flexclusive ISA. And certainly no confirmation of my Flexclusive ISA start date.

April 18: wooohay, a passbook arrives. With a request to turn up in Branch with proof of ID and address (I have been with Nationwide for 5+ years, got major money in their "MySave Plus", 3 Flexaccounts, and one esaver. And on Aril 7 2012, I showed the advisor my driving licence and bank statement/card of the account I authorised them to switch me from). Passbook says my Flexclusive ISA starts April 11 2012. Oh, and Flexclusive ISA also showing on my online accounts now.

So I duely go to the Branch again today, they verify my ID/address once more, and now promise me once again that the interest on my ISA starts on April 7 2012. She can't update my passbook with this but apparently Nationwide will write to me again. So I will patiently wait until I hear again.

Do I believe them this time that I will get interest from April 7 2012? Well yes, but it might take several more interventions from me before it gets really confirmed. And if I didn't keep at the ball, they'd only pay me from April 11 2012. I know we are only talking a couple of quid, but money is not the real issue - - - - it's about whether you can trust the staff, and in my case, you clearly can't. I fear my case is not unique, either.

Do I think Nationwide is any better or worse than any other bank? Well, they have a great headline interest rate on the Flexclusive ISA, but they are damned difficult to deal with, and my experience is that their verbal promises are worth just about absolutely nothing. I happen to have the time & determination to not let them off the hook, but I am deeply unimpressed by this experience. Just puts Nationwide right into the midst of the bunch of mediocre banks we have to put up with these days.

As an aside: is the "current account switching" going well? Hmh. Not really so far. They have transferred the one Standing Order I had on the account they are transferring from. None of the 2 Direct Debits as yet. The SO had an end date to it - - but the Nationwide switching service has now made it an open-ended SO. How unbelievable is this!! Not yet had the strength to take them up on that issue, but I will, of course, not let them get away with this.

Moral of the story: check anything and everything any bank does with your money because chances are they get it wrong. Then request, and monitor, that they correct their errors. (ask for compensation as appropriate)

badger09

innovate wrote: »

Natinwide p***d me of royally now. Bear with me please on what happened.


Moral of the story: check anything and everything any bank does with your money because chances are they get it wrong. Then request, and monitor, that they correct their errors. (ask for compensation as appropriate)

Oh dear.

Hope you feel better for sharing (where the heck is the 'genuine sympathy' emoticon?)

Couldn't agree more with your 'Moral of the story'. Banks eh, can't live with em, can't live without em :rotfl: