Nationwide Flexclusive ISA - 4.25%, instant access

Paul_Varjak

What other rules can there be except Nationwide's T&Cs and the HMRC regulations

Since I moved my monies just a few weeks ago, I have actually told a member of Nationwide staff (who was dealing with a complaint I had) what I did. No repercussions so far.

Yes, there could be a protracted dispute but I cannot see Nationwide winning any Ombudsman case. I doubt that they would even want it to get to the Ombudsman stage.

Rosemary_Jane

Just transferred another £10K over to the flexISA from my eISA.

Still a bit nervous about it all - I may scream for help if any complaint is needed in future.

R

Hooloovoo

Paul_Varjak wrote: »

What other rules can there be except Nationwide's T&Cs and the HMRC regulations

Since I moved my monies just a few weeks ago, I have actually told a member of Nationwide staff (who was dealing with a complaint I had) what I did. No repercussions so far.

Well my long and detailed complaint letter I sent yesterday will certainly give the game away if they didn't know already.

Hooloovoo

They've obviously received my letter because I have a missed called from a Nationwide number.

I don't particularly want to talk to them on the phone anyway. I'd rather keep everything in writing.

someone

Tbh, the reply I got back online looked like they had consulted their legal department to see if there was any way they could get out of this tricky situation.

DragonQ

Yeah I don't think I'd do it without seeing all of the relevant parts of their T&Cs that supposedly allows you to do this.

Hooloovoo

DragonQ wrote: »

Yeah I don't think I'd do it without seeing all of the relevant parts of their T&Cs that supposedly allows you to do this.

All the T&Cs are on the website.

http://www.nationwide.co.uk/savings/legal.htm

DragonQ

Hooloovoo wrote: »

All the T&Cs are on the website.

http://www.nationwide.co.uk/savings/legal.htm

Exactly and I can't really see anything that says this is going to be accepted by Nationwide. For example:

Transfers from your Online ISA to another cash ISA product (excluding another Online ISA or e-ISA), must be done using a paper application form and cannot be done from your card account.

Transferring money from an Online ISA to a Flexclusive ISA online (which is possible), breaks this condition. I bet if you did it using a paper form, they would reject it.

Where exactly are the conditions that people are reading that collectively mean this is allowed?

Hooloovoo

DragonQ wrote: »

Transferring money from an Online ISA to a Flexclusive ISA online (which is possible), breaks this condition. I bet if you did it using a paper form, they would reject it.

We've gone over this twice now. Once when xylophone queried it, and again when I queried it. Have a look through the older posts.

Where exactly are the conditions that people are reading that collectively mean this is allowed?

There are no terms and conditions that say it is allowed. The fact that there isn't a condition to prohibit it, means it is allowed.

For example, the "Save to Buy ISA conditions" have paragraph 94 which states

94. Transfers in from other ISA providers are not permitted.

The T&Cs for the Flexclusive ISA have no such clause.

DragonQ

Hooloovoo wrote: »

We've gone over this twice now. Once when xylophone queried it, and again when I queried it. Have a look through the older posts.

There are no terms and conditions that say it is allowed. The fact that there isn't a condition to prohibit it, means it is allowed.

The clause I quoted above does prohibit transferring from an Online ISA to a Flexclusive ISA online. Now what Paul Varjak said in post 697 was that these T&Cs only apply for transfers into new ISAs, not already open ones. I cannot see where this is said on the T&Cs page (ISA section). He then, as I understand it, contests that the rules on page 3 of this document apply because it's a transfer between existing accounts:

If both accounts are already open (partial transfer from e-ISA / Online ISA only), you will need to log into the Internet Bank and complete the following actions.

However, this is in the "Transferring funds from an existing Nationwide cash ISA product to your Online ISA" section - very specifically talking about transfers to an Online ISA, not to any Nationwide ISA.