Nationwide Flexclusive ISA - 4.25%, instant access

katie1234

Hi

Does anyone know what you would need to open this isa? To bring with you into the branch i mean! Seeing as i have the flexaccount i would assume they wont need proof of accounts etc but will they need I.D. or proof of address or anything?

Is there an application form to fill in or is it just added in with the rest of your accounts?

Dont want to spend ages queing tomorrow to find out i dont have the right stuff with me. Never opened an account in branch before, only ever online!

Thanks

badger09

katie1234 wrote: »

Hi

Does anyone know what you would need to open this isa? To bring with you into the branch i mean! Seeing as i have the flexaccount i would assume they wont need proof of accounts etc but will they need I.D. or proof of address or anything?

Is there an application form to fill in or is it just added in with the rest of your accounts?

Dont want to spend ages queing tomorrow to find out i dont have the right stuff with me. Never opened an account in branch before, only ever online!

Thanks

Wouldn't have thought as an existing customer you'd need ID etc but who knows.

You must be really keen if you're going to start queueing tomorrow though - it doesn't launch until Saturday :eek:

I'm sure there'll be more information online about the application process on Saturday morning

macro_duck

badger09 wrote: »

Wouldn't have thought as an existing customer you'd need ID etc but who knows.

You must be really keen if you're going to start queueing tomorrow though - it doesn't launch until Saturday :eek:

I'm sure there'll be more information online about the application process on Saturday morning

Spoke to Nationwide today who said you can either open it in the branch or over the phone, not online.

jonmcclelland

pqrdef wrote: »

But personally I can't understand what they're playing at. They're a mutual building society, not a bank. Current accounts aren't their core business. I've been a loyal customer for over 20 years - mortgage, insurance, e-savings, ISAs. The one thing I don't do is use my Flexaccount as my main current account. What's this obsession they've got with current accounts? And if they're aiming to attract new customers, why are they making out it's a loyalty perk?

.

If you use a bank/BS as your 'main bank', I suppose the idea is that you will go them as a first port of call when you need anything. By having a main current account with them, they can offer you exclusive deals and exclusive credit cards, mortgage rates and the like so you feel privileged for banking with them. It's good for their business model to do everything under one roof.

Savings accounts don't help banks as they have to pay you. The more people save, the more money they have to give out in interest.

Current accounts are easy money for banks and it's good for their profits. Bank charges, overdraft fees and credit card interest rates easily outweigh their savers rates.

Or that's my understanding anyway.

katie1234

Ha ha. That was just wishful thinking on my part that tomorrow was Saturday!

Might ring up then. Could be easier than going into town.

badger09

macro_duck wrote: »

Spoke to Nationwide today who said you can either open it in the branch or over the phone, not online.

I wasn't actually suggesting you could open it online when I said

"I'm sure there'll be more information online about the application process on Saturday morning"

But Branch only/Postal only/Telephone only accounts are invariably advertised online

Nine_Lives

I don't qualify by paying in £700+ for the past 3 months

but i could qualify via the transfer criteria. Can this be done online (transferring) or would this have to be done by their phone number?

rb10

jonmcclelland wrote: »

Savings accounts don't help banks as they have to pay you. The more people save, the more money they have to give out in interest.

A bank couldn't function without savings accounts. They cannot rely 100% on the wholesale market to get the funds to lend out on mortgages and loans.

They have to have savings there as well.

Wammer

I called the branch today to see if they had the application forums so that I could go in on Saturday with the form already completed. However they still haven't received them and they are closed tomorrow.

Now I don't expect they get their mail from head office as soon as they open so there doesn't seem much point in going first thing on Saturday.

Nine_Lives

Where do you guys get that it can be opened over the phone when it gets released? From what i have read (other than this thread) it's only available in branch. No mention of phone.