Nationwide Flexclusive ISA - 4.25%, instant access

Nine_Lives

Does anyone have a definite on this?

I don't want to guess & fall short. Just wondering if anyone had already found out the specifics of the switch?

badger09

K_P83 wrote: »

Does anyone have a definite on this?

I don't want to guess & fall short. Just wondering if anyone had already found out the specifics of the switch?

Have you read this?

http://www.nationwide.co.uk/current_account/switch_to_nationwide.htm

Seems straightforward enough

MattLFC

rb10 wrote: »

I believe you can manage the isa online, it just has to be opened by phone/branch.

To the poster above, have you seen Nationwide's new internet bank? In my opinion it is far better than Barclays or Santander (although mobile banking is better at Santander).

I use Nationwide's online service weekly and although I have concerns with Barclays new service, it is still better and smoother than Nationwide's. The GUI seems to be designed better, Nationwide not so good. Santander is certainly the best by far on mobile phones, and their PC version is adequate, a bit like Nationwide's.

MattLFC

Zekko wrote: »

Unless you are going to be actively depositing/withdrawing money into/out of this ISA on a regular basis, I don't see the problem with it not having online access.
I can certainly put up with that in return for a great rate.

It's because I live in the 21st century, and I have always (since 1998 with HSBC iirc) done my banking online. It's what I'm used to and it's what I'm comfortable with; just like one of the executives I work alongside, still uses cheques and prefers branch banking, it's what he's used to and what he is comfortable with.

Besides which, having the ability to transfer money without having to visit a branch, is much better (try visiting a branch over the next 4 days - not so easy when they're only open for one of them), and after repeated shoddy telephone banking experiences with Barclays, Santander and HSBC, I will not go near such a service. I guess I like to be hands-on, in control of my own money, without having to rely on a 3rd party to do it for me (and get the instruction wrong).

pqrdef

jonmcclelland wrote: »

Savings accounts don't help banks as they have to pay you.

Savings are the lifeblood of building societies. They aren't allowed to borrow too much wholesale, unless they convert to banks. We know what happened to building societies that went down that road.

jonmcclelland wrote: »

Current accounts are easy money for banks and it's good for their profits.

What would Nationwide want with profits? The whole point of a mutual, as we're persistently told, is that it doesn't have to pay dividends to shareholders, so it can offer better rates and services to members. Most of the members are savers, and they'd all like to benefit. They don't want to be told, hey we've got this great savings deal, but you can't have it, you're disqualified.

Nationwide has 15 million members, most of them are savers, only a few hundred thousand use a Flexaccount as their main current account.

david78

If you switch online all of your DDs and SOs are switched. If you only want to switch a few DDs to take advantage of the offer you need to do it by telephone or in a branch.

ejv

4.25% is too good to ignore...
Wonder what I could do to get this?Never been a Nationwide customer in life.
I can pay in £750 manually pm.But I don't fancy switching nearly 20 DD/SO from my current HSBC(I know, they haven't paid a penny of interest since Dec 2008!!!)
I usually subscribe the whole ISA allowance as soon as the FY starts.
However, for this sweet deal, starting a flexaccount with NWide now, remitting £750 for 3 months and then subscribing the 2012-2013 FY ISA is still worth?:question: Unfortunately, as they don't allow transfers in, I cant earn anywhere else for these 3 months:(

evenasus

Zekko wrote: »

Unless you are going to be actively depositing/withdrawing money into/out of this ISA on a regular basis, I don't see the problem with it not having online access.
I can certainly put up with that in return for a great rate.

MattLFC wrote: »

It's because I live in the 21st century, and I have always (since 1998 with HSBC iirc) done my banking online. It's what I'm used to and it's what I'm comfortable with

I also do all my banking online but I agree with Zekko.

I have used ISAs and before that TESSAs and on the 6th April put in the full amount allowed in every year.
I then forget about it until near the end of the financial year when it's time to look when new rates/accounts are announced.

david78

As I understand it, you have to keep paying in the £750 into the Flex Account each month for the term of the bonus offer to get the bonus.

ejv

evenasus wrote: »

on the 6th April put in the full amount allowed in every year.
I then forget about it until near the end of the financial year when it's time to look when new rates/accounts are announced.

Me too...never tinkered with ISA accounts other than for the FY deposits/transfers in April.So not really bothered about online facility