Nationwide Flexclusive ISA - 4.25%, instant access

someone

kidmugsy wrote: »

i invite you to use the abbreviation nwd for nationwide - i've seen confusion on other threads with "nw" being used for both natwest and nationwide.

nw bs ...?

Rosemary_Jane

Hi,
I thought I'd transfer over another couple of hundred to the flexclusiveISA online from my eISA this morning.

On the confirm screen was the following:
"Check and confirm the details below. If you confirm, your money will be transferred immediately. Important information - any funds that are withdrawn from an ISA and credited to a non-ISA product are no longer considered to be tax-free savings. They can only be added to another ISA as part of your annual ISA allowance. You should not withdraw funds that you wish to transfer to another ISA; instead you will need to contact the new provider who will arrange the transfer for you. This includes transfers to other Nationwide cash ISA products."

I don't remember that last sentence being there last week, and I'm afraid I bottled out. Does anyone else remember what the confirm transfer screen said?

Rosemary

kidmugsy

Rosemary_Jane wrote: »

Hi,
I thought I'd transfer over another couple of hundred to the flexclusiveISA online from my eISA this morning.
...
Does anyone else remember what the confirm transfer screen said?

Rosemary

I tried it with a small sum yesterday and I don't remember that message. But perhaps I wash't paying attention.

Banana_Man_2

I can't recall reading that last sentence being there when I moved £200 across last week. Very interesting!

kidmugsy

My eISA loses its bonus in a few days. If I can move the money to my Flexclusive ISA, it stays at NWD. If I can't I'll transfer it to a different provider. So I'd like a clear view of Nationwide's policy.

Paul_Varjak

Rosemary_Jane wrote: »

Hi,
I thought I'd transfer over another couple of hundred to the flexclusiveISA online from my eISA this morning.

On the confirm screen was the following:
"Check and confirm the details below. If you confirm, your money will be transferred immediately. Important information - any funds that are withdrawn from an ISA and credited to a non-ISA product are no longer considered to be tax-free savings. They can only be added to another ISA as part of your annual ISA allowance. You should not withdraw funds that you wish to transfer to another ISA; instead you will need to contact the new provider who will arrange the transfer for you. This includes transfers to other Nationwide cash ISA products."

I don't remember that last sentence being there last week, and I'm afraid I bottled out. Does anyone else remember what the confirm transfer screen said?

Rosemary

I had the same message when I transferred my On-line ISA to the Flexclusive ISA and it worked fine.

If you are transferring directly between Nationwide ISA products you have no worries. If you already have the maximum £5,640 of this year's allowance in a Fleclusive ISA then, if the transfer resulted in loss of ISA status then even trying to transfer £1 would not work because on-line banking would say you have used all this year's allowance.

Paul_Varjak

kidmugsy wrote: »

My eISA loses its bonus in a few days. If I can move the money to my Flexclusive ISA, it stays at NWD. If I can't I'll transfer it to a different provider. So I'd like a clear view of Nationwide's policy.

Nationwide's 'policy' is contained in the generals T&Cs for their ISA as well as the specific T&Cs for the ISA that you are transferring from and the ISA you are transferring (in this case, the Flexclusive ISA).

Just read this thread and your T&Cs.

xylophone

http://www.nationwide.co.uk/savings/legal.htm#savingsTop ISAs
But http://www.nationwide.co.uk/isas/transfer-isa/default.htm "Move between Nationwide ISAs".

Paul_Varjak

xylophone wrote: »

http://www.nationwide.co.uk/savings/legal.htm#savingsTop ISAs
But http://www.nationwide.co.uk/isas/transfer-isa/default.htm "Move between Nationwide ISAs".

Without quoting the relevant wording it is not clear what point you are trying to make.

sara_bande

Having read through mucjh of this thread it would seem sensible to go ahead with the transfer from a NWD isa to the Flexclusive ISA. I can't see that there could be any financial penalties? Has anyone seen anything to indicate otherwise in the T&C?