Nationwide Flexclusive ISA - 4.25%, instant access

DragonQ

That's kind of why it's a branch only account. Be thankful that you can open it over the phone and do transfers in over the phone or via internet banking.

Hooloovoo

DragonQ wrote: »

That's kind of why it's a branch only account. Be thankful that you can open it over the phone and do transfers in over the phone or via internet banking.

I don't think anyone is complaining about the functionality that is available as advertised. It works as they say it will work.

The question is, as gallygirl asks, the rationale behind such a move.

What is the motivation behind a branch only account these days? It just seems daft.

ylesia

Hooloovoo wrote: »

I don't think anyone is complaining about the functionality that is available as advertised. It works as they say it will work.

The question is, as gallygirl asks, the rationale behind such a move.

What is the motivation behind a branch only account these days? It just seems daft.

I thought it was maybe to increase footfall and maybe to boost branch sales of this and other products but when we opened ours the staff couldn't have been less interested and certainly didn't try and sell us anything else (unlike everytime I make the mistake of going into a BOS branch!)

Venusflytrap

ylesia wrote: »

I thought it was maybe to increase footfall and maybe to boost branch sales of this and other products but when we opened ours the staff couldn't have been less interested and certainly didn't try and sell us anything else (unlike everytime I make the mistake of going into a BOS branch!)

It was in my case. The CSA who opened my account tried to sell me a mortgage and life insurance and I simply told her that neither I nor my husband are interested in getting into debt. She looked puzzled but let it go.

DragonQ

During my meeting I was offered a credit card with cashback, which I do want to get at some point, but I said I might be rejected anyway for having a bare credit history.

I'll apply for one once I've had my current card for at least I year I think.

C_Mababejive

gallygirl wrote: »

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

Well the rationale is that you have to go in branch to both open and close it which gives them an opportunity to try and sell you other products and,when the bonus period expires or better deals come along,try to dissuade you from transferring it elsewhere.

Also,there will be thousands who allow the bonus to expire and then spend the next decade being paid a paltry amount for their savings.

thenudeone

C_Mababejive wrote: »

Well the rationale is that you have to go in branch to both open and close it which gives them an opportunity to try and sell you other products

But you don't have to go to a branch.

Both me and the OH have opened them by telephone. 0800 30 20 10.

But be warned - they will automatically open the account and transfer the the balance you say from your Flexaccount without any further authority or notice.

I wanted to open the account but not fund it, just in case my attempt to open the 5% Nottingham BS "branch-based" ISA by post failed.

However, Nationwide have opened the ISA AND taken the amount I said I was going to open it with (£1) from the flexaccount, which they didn't explain to me.

I'm just going to stick with it and won't return the Nottingham forms. The Nationwide one is more flexible and the higher rate lasts longer than the Nottighman one, even if the rate itself is lower.

Gromitt

Logged into my Nationwide account today and found that my ISA account is now present, so just transferred the full allowance. Congrats to Nationwide for finally getting it working.

thenudeone: I did get a phone call on tuesday this week from whoever was setting up the accounts - wanted to confirm the sort code and a/c of the bank transfer and the amount to transfer from my flex account before they went ahead. So maybe it depends on the branch?

Still not received my pass book yet though!

Frank121

The vouchers arrived yesterday morning. I still can't really believe it. :O

Frank

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

le_loup

The T&Cs will be right!
The counter clerk could have been saying you don't need to pay in £750 to start the process.