Nationwide Flexclusive ISA - 4.25%, instant access

Paul_Varjak

veryintrigued wrote: »

Hi there

I've read through the last few pages of this thread and most of it seems to relate to funding this account for 2012/13. Apologies in advance if this question has already been asked but......

My question relates to 2013/14 and new money. Yes I'm super keen for April !!

Can someone tell me if this account already has clauses in its T&C that will stop me transferring my full 13/14 allowance to it in April to receive the 4.25% on this until the end of November 2013?

Cheers in advance

I have seen no such clauses and I have already indicated on this thread that I intend to use my 2013-14 ISA allowance to fund the Flexlcusve ISA. I trust I could do this by simply moving monies from my Flexaccount to the Flexclusive ISA or, failing that, moving the monies to another Nationwide ISA product then to the Flexlcusive ISA.

Hooloovoo

Following my rejection of their compensation offer, I have had another reply from Nationwide.

They have again transferred the money out of my Flexclusive ISA back to my e-ISA. This is because it

is against the Terms and Conditions of the account, I will again be debiting this from your Flexclusive ISA and returning this to your e-ISA.

The very next paragraph states, and this is a real belter, that

Although it is not clear in the account Terms and Conditions that only new funds are to be credited to the Flexclusive ISA, it does state this in the product literature. This information was also displayed online. I have enclosed a copy of the leaflet for your reference and I have fed your comments back to our Marketing Department to prevent situations like this happening again in the future.

What a joke!!

I'm sorry Nationwide, but if it aint in the Terms and Conditions, then it aint a Term or Condition!!

If the FOS don't have them over a barrel with this I will be very surprised indeed.

Rosemary_Jane

Hooloovoo wrote: »

Following my rejection of their compensation offer, I have had another reply from Nationwide.

They have again transferred the money out of my Flexclusive ISA back to my e-ISA. ..... I'm sorry Nationwide, but if it aint in the Terms and Conditions, then it aint a Term or Condition!!

If the FOS don't have them over a barrel with this I will be very surprised indeed.

I am sorry that you are having all this hassle with them Hooloovoo; but I am grateful that you are sharing your experiences. As you know, many of us aren't having this amount of trouble, having not come onto their radar, so you might be able to get increased compensation for the trouble of being hassled more than other customers

R

le_loup

Rosemary_Jane wrote: »

I am sorry that you are having all this hassle with them Hooloovoo; but I am grateful that you are sharing your experiences.

May I second this comment?
Hooloovoo, the very words they have used absolutely condemn them. How on earth can you have Terms & Conditions that are not Terms & Conditions?

badger09

le_loup wrote: »

May I second this comment?
Hooloovoo, the very words they have used absolutely condemn them. How on earth can you have Terms & Conditions that are not Terms & Conditions?

May I 'third' it?

Thanks Hooloovoo - keep it up :T

leaphaze

Hooloovoo wrote: »

I have enclosed a copy of the leaflet for your reference and I have fed your comments back to our Marketing Department to prevent situations like this happening again in the future.

I think Nationwide should be feeding this back to their legal department... unless their marketing department have been preparing their terms and conditions!

Hooloovoo

leaphaze wrote: »

I think Nationwide should be feeding this back to their legal department... unless their marketing department have been preparing their terms and conditions!

My thoughts exactly when I read that!

njp6

I have been following this thread with interest as I have a fixed rate ISA that matures in March 2013 and intended to move this money into this Flexclusive on maturity. When I opened my account on 9th April they had no literature available at the Branch, but verbally assured me that it would be possible to manage the account on line without any limits. NWD have really shot themselves in the foot with this reply to Hooloovoo. Their marketing dept also stated on the literature that you could hold from £1 to £5,000,000 not much chance of this if you cannot put other monies in! Keep the pressure on and lets see how they get on with the ombudsman fingers crossed I will still be able to invest the matured ISA and next years Isa monies.

le_loup

njp6 wrote: »

Their marketing dept also stated on the literature that you could hold from £1 to £5,000,000

That may be true but, more importantly, it's clause 90 in their terms and conditions!

Hooloovoo

To be honest I am fully expecting the FOS to side with Nationwide, despite the evidence we are giving them.