Nationwide Flexclusive ISA - 4.25%, instant access

le_loup

Are you naturally a pesimist or is it just a feeling in your water? I think you are watertight, the problem may be that we cannot afford lawyers to make our case but the FOS should be on our side.

Hooloovoo

le_loup wrote: »

Are you naturally a pesimist or is it just a feeling in your water?

Bit of both probably.

I think you are watertight, the problem may be that we cannot afford lawyers to make our case but the FOS should be on our side.

I just think they are going to say the guide leaflet is enough to side with Nationwide.

I mean, look at it from the other side, if the guide leaflet said something to our benefit that wasn't in the terms and conditions, we would all be shouting that the advertising material should be upheld.

le_loup

You are right.
However:
Most organisations ask you to click to say you have read the T&Cs. I have NEVER been asked to confirm that I have read the sales literature.

Hooloovoo

le_loup wrote: »

You are right.
However:
Most organisations ask you to click to say you have read the T&Cs. I have NEVER been asked to confirm that I have read the sales literature.

One of the replies from Nationwide states that by signing the application form we are confirming that we have seen and been given a copy of the guide leaflet. I have not been able to confirm or deny this.

le_loup

I just happen to have an application form in front of me. The declaration does not mention either T&Cs or guide leaflet.
As you have discovered they are making this up as they go along. Clearly they are worried and no doubt are following this thread. (If not, they want shooting!) So they don't want to give way on this but when they get a FOS ruling against them the floodgates will open because of social media like this.
They had a similar problem with mortgage rates a year or two back. Heads will roll but it won't be ours!

beefturnmail

Just read this thread with interest. I have a flex isa, no other Nwide isas, but do have isas with other providers. Am I right in thinking I could open another Nwide isa (such as an online isa) by transferring across from my other provider isas, then transfer this all into the flex isa? Any way Nwide could 'stop' me doing this? Presumably the risk is that I could be stuck with the isa money in the online isa paying a low rate, but then I could just transfer again to a different provider?

Hooloovoo

beefturnmail wrote: »

Any way Nwide could 'stop' me doing this?

They don't appear to be able to "stop" you since the website allows the transfer. They could of course "fix" the web site to not allow such transfers between now and when your new account is open.

But if they find out about it they will reverse the transfer and tell you it is against the terms and conditions.

Then you will have to take them to the FOS to clarify the position regarding the terms and conditions.

Presumably the risk is that I could be stuck with the isa money in the online isa paying a low rate, but then I could just transfer again to a different provider?

Yes, you could just transfer back out again.

veryintrigued

beefturnmail wrote: »

Just read this thread with interest. I have a flex isa, no other Nwide isas, but do have isas with other providers. Am I right in thinking I could open another Nwide isa (such as an online isa) by transferring across from my other provider isas, then transfer this all into the flex isa? Any way Nwide could 'stop' me doing this? Presumably the risk is that I could be stuck with the isa money in the online isa paying a low rate, but then I could just transfer again to a different provider?

Why would you do it when you know Nationwide will more than likely reverse it and also that they dont allow it? (Its been confirmed multiple times on here that irrespective of it not being in the T&Cs they dont).

Are you hoping to get some compo from the Ombudsman?

beefturnmail

veryintrigued wrote: »

Why would you do it when you know Nationwide will more than likely reverse it and also that they dont allow it? (Its been confirmed multiple times on here that irrespective of it not being in the T&Cs they dont).

Are you hoping to get some compo from the Ombudsman?

Trying to get a decent rate of return, not compo - thought people had managed to transfer sucessfully, no?

le_loup

veryintrigued wrote: »

Are you hoping to get some compo from the Ombudsman?

I do hope you don't mind me saying that your comment is verging on the ridiculous? If you do mind, tough.
The poster, as are others, is trying to get a competitive interest rate on a cash ISA entirely within the terms and conditions of an account. Many people are succeeding; we know of one that is having a dispute.
There is absolutely no one compelling you to participate and, if you're not, what on earth has it got to do with you?