Nationwide Flexclusive ISA - 4.25%, instant access

blindman

So

I have the NWFlexcuslive ISA and two other ISA's

One, with the PO will be transfered as there's no penalty and their rate is plumetting.

I have a 1 year FIXED with Santander where the rate IIRC is 2.3% until 1st May

There's a 90 day penalty loss of interest if I switch to the NW.

As there's 10K in the Santander can anyone work out:

How much the penalty will be and is it worth Txing it to the NW to get the 4.25% rate until end of October?

If I Tx both ISA's the NWide will have circa 25K at 4.25%

Frank121

Did you mean 31st October 2013 and not 31st April 2013? If I remember correctly the bonus expires in Oct not April?

Thanks,
Frank

Alex92 wrote: »

Mind you, the flexiclusive goes down to 2% after bonus expires on 31st April. If you are lucky you will be able to get instant access ISA at around 2.50%, which is only 0.5% more than the nationwide account.

0.5% of £11400 / 12 *4(months) = £19. If you opened an account with nationwide now, from march to october 31st is 8 months. That means for remaining 4 months you'd only get 0.5% extra which is only £19. Not a massive difference on £11400 tbh.

Alex92_2

Frank121 wrote: »

Did you mean 31st October 2013 and not 31st April 2013? If I remember correctly the bonus expires in Oct not April?

Thanks,
Frank

Yeah, sorry. Was on the phone when I was typing that post out!

What's the deal then with this 4.25% isa. Do I just go into my local nationwide branch and say "heard you still have a 4.25% ISA thats expires in October 31st and then goes back down to 2%, I have flexiaccount and pay in £750 a month and would like to transfer previous funds into this and open it up" ?

Hooloovoo

Alex92 wrote: »

Yeah, sorry. Was on the phone when I was typing that post out!

What's the deal then with this 4.25% isa. Do I just go into my local nationwide branch and say "heard you still have a 4.25% ISA thats expires in October 31st and then goes back down to 2%, I have flexiaccount and pay in £750 a month and would like to transfer previous funds into this and open it up" ?

No. If you haven't already got a Flexclusive ISA Issue 1 then you are out of luck. It was closed for new business months ago.

Alex92_2

Hooloovoo wrote: »

No. If you haven't already got a Flexclusive ISA Issue 1 then you are out of luck. It was closed for new business months ago.

!!!!!!! Absoloutely no way around this? Looks like I will have to go back and pretend to enjoy my measley 2.50% from cheshire/

Hooloovoo

Alex92 wrote: »

!!!!!!! Absoloutely no way around this?

Nope, sorry.

This case is regarding transferring in to an ISA opened last April - May.

libra10

Thanks very much for posting this thread.

Have just phoned Nationwide and they have confirmed that you can transfer into this account.

I have another Nationwide ISA, interest rate languishing at 2.1% and have been looking where to transfer.

This is ideal for me as my interest rate would more than double (even though only for several months), it also consolidates two accounts.

The adviser told me the transfer could be done online, though she thought possibly only in blocks of £10000. Am a little nervous of moving these amounts of money onliine, and she is sending out a consolidation form.

I wouldn't have known about this if it hadn't been for good old MSE. Thank you

patgc

I moved my Online Issue 3 directly to my Flexclusive Issue 1 via the Online banking Easy Transfer box on the left of the screen which gives you the option to move monies from one of any of your NW accounts to any other of your NW accounts or to another persons account. This was immediate and with no problems.

innovate

libra10 wrote: »

Am a little nervous of moving these amounts of money onliine

It's only between your own accounts, so no need to worry. Try it with just a pound first if that reassures you. And/or do it in several tranches. But really no need to worry if you transfer between your own Nationwide accounts. You got your statements, anyway, if something went wrong.

Go on, be a devil

libra10

Thank you.

Just a little worried in case some of the money loses its ISA status, or becomes lost in cyberspace.

Would you do all transfers on the same day, or over several days?

I'm used to transferring money and paying bills online, you're right, it shouldn't be a problem.

Might give it a whirl and see how it goes. I suppose if there is a problem I could always phone Nationwide again.