Nationwide Flexclusive ISA - 4.25%, instant access

innovate

Gromitt wrote: »

Not unless the bank of england are setting the interest rate to less than 0.5%:

fixed rate bonus of 2.25% until 31 October 2013
at least 1.50% above the Bank of England Base Rate until 1 January 2014

2.25% + 1.50% + 0.5% = 4.25%.

They could still achieve their promises by going as low as 2.75% - it doesn't say that the "at least 1.50% above BOE Base Rate" applies to the base rate without the bonus.

However, if they did anything like that, they'd quite likely experience a mass exodus.

Gromitt

innovate wrote: »

Just because you have the Flexclusive doesn't prevent you from opening a brand new ISA any time from April 6 2013. Although it might encourage you to put some or all of your 2013-2014 contribution into it.

What I meant is that if you deposited in Nationwide next April, then you can't take advantage of another ISA which is 'New funds only'; you can only transfer out, which is usually at a lower interest rate.

innovate

Gromitt wrote: »

What I meant is that if you deposited in Nationwide next April, then you can't take advantage of another ISA which is 'New funds only'; you can only transfer out, which is usually at a lower interest rate.

Not sure I can follow you. You would obviously check the market before you put any new money into any ISA in any financial year. If Nationwide are still best next year (who knows, they might have an entirely new offer), they'll get my money. If they aren't, they won't.

Transferring is, in my experience, not associated with lower interest rates - - there's obviously no point transferring if the interest rate isn't better in the target ISA.

Anyway, the main point it that signing up to the Flexclusive in 2012-2013 does in no way limit your options for subsequent years.

innovate

MoneyInTheBank wrote: »

If it is a Flexclusive ISA we are currently unable to offer the facility to view the account online, however we are working hard to resolve this issue and Flexclusive ISA accounts will be available to view within the Internet Bank soon

And I understand others can view it - is this correct? As I don't want to transfer my funds until I can see it online.

Can see mine alright.

Do you really want to lose out on interest just because there presently is an online display issue?

leaphaze

MoneyInTheBank wrote: »

Can everybody here view their Flex ISA via online banking? I opened both the flex current account and ISA in branch over 2 weeks ago, I can see the current account online but when I go to report that I cannot see the ISA it states:

If it is a Flexclusive ISA we are currently unable to offer the facility to view the account online, however we are working hard to resolve this issue and Flexclusive ISA accounts will be available to view within the Internet Bank soon

And I understand others can view it - is this correct? As I don't want to transfer my funds until I can see it online.

Yes, just signed in and checked. I assume that since you can't see your ISA, you can't transfer your funds online anyway.

joedenise

I can see my Flexclusive ISA on line and I've also transferred money into it. It took a few days to show up on line after I'd opened it.

Perhaps it's something to do with you only just opening the FlexAccount and not already having one?

Denise

plunt

called them up day and they confirmed the 4.25% will no long be offered if you havent signed up by the 10th. the new rate will then be 3.5%

not terrible but still a shame!

lolly5648

If I want to open an ISA today can I do it all in the branch, ie if I take in a cheque and identity or does it have to go to Head Office to be approved?

libra10

We opened our ISAs at the local branch, but as there wasn't enough in our flex account, had to return home to transfer from our e saver account. The banking assistant then deducted the money from the flex account into the two separate ISAs that we had opened, later in the day.

You need to take in identification.

Good luck

rmcc89

Somewhere in this thread, someone mentioned Standing Orders of £750 into the Flex Account each calender month, and Standing Orders of £750 out of Flex Account back to it's original place. Someone suggested Faster Payments instead, but will this fly little trick really duck under the Nationwide radar?

Would this work?