Nationwide Flexclusive ISA - 4.25%, instant access

DragonQ

It quite clearly says "or" between the two points.

chopperward

innovate wrote: »

Wouldn't be much use if you didn't get any interest!

The 'free' bit is the tax on interest

On interest for normal savings, you have to pay tax (unless you are not a tax payer, in which case you can claim back the tax).

On interest for ISAs, no tax is deducted from the interest your ISA earns.

Sorry I meant no deductions on the 4.25%. So for instance a net interest rate of 3.25%.

But like you say innovate there shouldn't be any dedections on the interest if it's an ISA.

Thanks

chopperward

DragonQ wrote: »

It quite clearly says "or" between the two points.

It does clearly say "or" but when it mentions about continuing to be eligible for the Flexclusive it says 'customers must meet all of the criteria above, as well as continuing to deposit at least £750 or more each month into the FlexAccount'.

DragonQ

Yes, all of the criteria. There are three criteria, firstly that you qualify as a main FlexAccount holder, secondly that you have a FlexAccount with a Visa debit card, and thirdly that you've either paid in £750pm for three months or have switched in the last four months.

chopperward

Ok thanks Dragon. Just wanted to clear that up before I commit to it. Thanks

C_Mababejive

Dont ever think that a bank will give you something for nothing.

I have been a long term NW customer,probably 2 or 3 decades and its true,they are responding to criticism as to how they behave toward a largely loyal customer base. So far i have benefitted by having their "free" travel insurance and also their preferential credit card.

As for this account....well its in branch and the question is....i think the bonus period ends in October 2013.

Will you open a new isa elswhere and transfer it out? Come to think of it,will many people remember..?

hermante

dggar wrote: »

To save me the trouble of having to go to the branch every month or having to phone them. I don't want to draw down from the capital
I want to have the interstest paid monthly. I'd rather have it as as an automatic payment. Not that it is really any of your business as to how I like to receive payments.

Well if you put in the full £5640 and it did pay monthly, you'll get £19.60 per month rather than £239.90 after one year, of course every little helps but does it really make much difference?

bondy01

Thanks for the heads up about this. Was going to stick £5640 in my existing NW e-isa tomorrow but will wait until next week and visit the local branch. Think the interest difference is about £60 over the year comparing 3.1 and 4.25%.

le_loup

chopperward wrote: »

Ok thanks Dragon. Just wanted to clear that up before I commit to it. Thanks

Suggestion:
Don't rely on what we are telling you here. Read ALL of the T&Cs when they come out on Saturday BEFORE you commit.

badger09

le_loup wrote: »

Suggestion:
Don't rely on what we are telling you here. Read ALL of the T&Cs when they come out on Saturday BEFORE you commit.

Excellent advice :T