Nationwide Flexclusive ISA - 4.25%, instant access

badger09

Paul_Varjak wrote: »

ISA Transfers can only be done by a request to your provider - that includes transfers between different ISA accounts with the same provider. I don't believe that an on-line transaction is a valid request for such a transfer...

Actually Nationwide do allow you to transfer one of their ISA products into another of their ISA products online.

I have done this myself twice this (calendar) year already In February I transferred an eISA into an Online ISA issue 3, and earlier this month I transferred the Online ISA issue 3 to an Online ISA issue 4 - in both cases, to extend the bonus period :T

I also believe Halifax allow you to 'redesignate' i.e. transfer Halifax ISAs online .

badger09

Frank121 wrote: »

Now this is interesting!

I asked Nationwide to transfer my current account from LTSB. I just transferred 2 DD's from my First Direct account to LTSB and then asked Nationwide to transfer them.

To my surprise LTSB contacted me and offered me £150 M&S or John Lewis vouchers not to transfer the DD's. It's really strange as I just moved these DD's to LTSB and they haven't even been paid out yet.

Naturally I accepted...that's a very good offer lol! I dunno how long I should keep the DD's active for but I will prob move them back to First Direct once I have my vouchers safely in my hand.

Now to find another current account to transfer to Nationwide.

Cheers.
Frank

Interesting indeed. I'm in the process of transferring DDs from Santander to Nationwide. Unfortunately Santander haven't contacted me with an offer I can't refuse

bondy01

badger09 wrote: »

Actually Nationwide do allow you to transfer one of their ISA products into another of their ISA products online.

I have done this myself twice this (calendar) year already In February I transferred an eISA into an Online ISA issue 3, and earlier this month I transferred the Online ISA issue 3 to an Online ISA issue 4 - in both cases, to extend the bonus period :T

Saves me starting a thread with that question. I have an e-ISA with the bonus expiring at the end of Sept and will probably move it to an Online ISA issue 4.

badger09

bondy01 wrote: »

Saves me starting a thread with that question. I have an e-ISA with the bonus expiring at the end of Sept and will probably move it to an Online ISA issue 4.

Its very straight forward - just follow the link

http://www.nationwide.co.uk/isas/transfer-isa/default.htm#tab2%0D%0A

Your eISA disappears from the online screen for a few days, then the new Online ISA appears, with interest added to the closing/transfer balance of the eISA A letter follows with the new account number.

PEHall

innovate wrote: »

borkid - - easy to get round this.

Open another current account elsewhere (or use one that you have elsewhere). Set up standing orders between the two accounts, or just do manual transfers in the months in question. You can use the same money to make up the £750 - - e.g. withdraw and deposit the same £250 three times and you have deposited £750 from an external source.

I'm now in a situation where I've no job but enough cash to tide me over for a bit and would like to keep the flexaccount benefits by transferring £750 in every month. Unfortunately, all my accounts are Nationwide and I don't want to switch all the DDs and SOs. Any ideas where and what to set up - ideally with a bit of interest?

DragonQ

Frank121 wrote: »

Now this is interesting!

I asked Nationwide to transfer my current account from LTSB. I just transferred 2 DD's from my First Direct account to LTSB and then asked Nationwide to transfer them.

To my surprise LTSB contacted me and offered me £150 M&S or John Lewis vouchers not to transfer the DD's. It's really strange as I just moved these DD's to LTSB and they haven't even been paid out yet.

Naturally I accepted...that's a very good offer lol! I dunno how long I should keep the DD's active for but I will prob move them back to First Direct once I have my vouchers safely in my hand.

Now to find another current account to transfer to Nationwide.

Cheers.
Frank

Huh. I was called about it to but just to find out why I was moving my direct debits to someone else. No offer of any vouchers or incentive to stay, even though I've been with them for 8 years!

I guess maybe cos I have a Vantage account and a credit card with them, they know I'm not leaving completely.

innovate

PEHall wrote: »

Any ideas where and what to set up - ideally with a bit of interest?

Check out Martin's Best Bank accounts and/or this comparison site. What's best in your case really depends on your needs / circumstances

Fingerbobs

DragonQ wrote: »

Ah well my transfer of £5637 completed instantly.

I know about faster payments but in my experience, that still takes anywhere between 10 minutes and a few hours if going between different banks. The only inter-bank transfers I've seen being instant are between Lloyds TSB and Halifax, because they now use the same internet banking system.

Not my experience, I have to say. I have transferred money between Halifax, Barclays and Nationwide accounts many times via Faster Payments, and the transfer has always happened within seconds.

By the time I've logged out of one site and logged in to the other site, the money is already showing in the target account.

Only times it's taken longer (days) are when it didn't go via Faster Payments for reasons known only to the bank :mad:

gallygirl

I opened my account by phone last week and passbook has just arrived. How quaint :rotfl:.

Seriously, does anyone understand the rationale here? Why have an internet enabled account that has to be opened in branch or over phone, and in branch to lift income, but view it and feed it online? Just as stupid as the savings account they had which did not appear on their main site and you had to log out & into a different site to access it. I don't think they've grasped 'functionality' yet

SmileyG_2

Just read the terms and conditions of the Flexclusive ISA. This may have been addressed earlier in the thread but be aware....

Taking money out

1. Subject to any additional conditions on your account regarding withdrawals the card, certificate or passbook must accompany any request for a withdrawal from the account.
3. Subject to any additional conditions on your account regarding withdrawing money, you may withdraw up to £500 in cash each day or up to £500,000 by cheque from a Nationwide branch immediately. Larger amounts may be withdrawn by cheque after making an arrangement with any Nationwide branch.
4. Subject to any additional conditions on your account, cash and automated credits deposited into the account will be available for withdrawal immediately.
5. Subject to any additional conditions on your account, withdrawal of funds by international transfer and CHAPS payments are available and are subject to an administration charge. Details of charges, foreign exchange conversion and timescales are available on request or when a transaction is authorised.
6. Standing orders, direct debits and bill payments cannot be made from the account.
7. We will debit the account with all payments and withdrawals authorised by you together with any charges in accordance with our published charges.

You can't make withdrawals online! You have to go in the branch and do it!

I have to say that Nationwide are making it extremely difficult for individuals to manage their money effectively. It's certainly tempting me to consider attending an AGM and voice my concerns.

Nationwide have no fewer than 10 Cash ISA products. Is there any other provider out there with more?

Come on Nationwide, get a grip and get back to doing what you used to do so well. Keeping it simple!