Nationwide Flexclusive ISA - 4.25%, instant access

le_loup

Frank121 wrote: »

So does anyone know why Nationwide have changed there position?

This really is so simple!
Nationwide's T&Cs did not say you couldn't do transfers.
hoovooloo and others only had problems because they asked. Others, like me, just did it and had no problems whatsoever.

Hooloovoo

le_loup wrote: »

This really is so simple!
Nationwide's T&Cs did not say you couldn't do transfers.

You're missing the point.

If Nationwide had held out for the Ombudsman result, it wouldn't have mattered at all what the T&Cs say or do not say.

Once the Ombudsman has processed a test case and have determined Nationwide to not be at fault, Nationwide could just stick their fingers in their ears and ignore everyone and say "transfers not allowed" no matter what is in the T&Cs.

Chorlie

I phone Nationwide up yesterday to transfer my NW Online Issue 6 ISA into my Flexclusive ISA, the first unhelpful guy said I had to do it online or via the branch so I phoned back and the girl said you can't do Transfering into the Flexclusive ISA. After point out the rules have changed, she checked her system and read aloud (maybe by mistake) there internal Q&A and confirmed it can be done if asked but not to advertise this fact. So she is sending me the form in the post.

However, back is September 2012 I sent Nationwide a message via their online message service, asking if I can transfer some on my Online ISA into the Flexclusive, I received a reply back the next day stating 'NO' you're not permitted to transfer previous years ISA funds into this account....so since I've now had it confirmed that you can, could I get it back dated to this date in September?

Hooloovoo

Chorlie wrote: »

However, back is September 2012 I sent Nationwide a message via their online message service, asking if I can transfer some on my Online ISA into the Flexclusive, I received a reply back the next day stating 'NO' you're not permitted to transfer previous years ISA funds into this account....so since I've now had it confirmed that you can, could I get it back dated to this date in September?

Yes, appears to be the answer to that question.

le_loup

Hooloovoo wrote: »

You're missing the point.

I don't think I am!
You are going back to the ombudsman because, clearly, they have come up with a daft conclusion.
The Small Claims Court could well come to a different conclusion and justice would be on your side. Whatever anyone says, T&Cs rule and you have only got justice by persevering with them.
None of that changes the fact of the question I was answering was that NW have been forced to back down because their T&Cs did not say they wanted them to.

Hooloovoo

le_loup wrote: »

None of that changes the fact of the question I was answering was that NW have been forced to back down because their T&Cs did not say they wanted them to.

I still don't agree.

Nationwide can say what they like until they are forced to admit they are wrong.

No one, yet, has forced them to admit they are wrong.

So why have they done so already?

You are correct, if I didn't get satisfaction from the Ombudsman then I still have all rights available to me to take Nationwide to court. But lets face it, I'm not going to risk the cost of that because if one stupid adjudicator got it wrong the chances are someone else will just agree with them and I'd have lost even more money.

Your statement "NW have been forced to back down because their T&Cs did not say they wanted them to" is simply wrong. Nationwide have chosen to back down. They have not yet been forced to. And the chances are by the look of it they are not going to be forced to back down.

le_loup

Hey! I'm on your side.
Nationwide changed their mind. Something made them. People were using the T&Cs they provided. They could either start multiple fights with their customers or someone senior reviewed the position and changed the stance.
Is there a difference between loss and consequential loss? You bet. And it looks like that's where they have drawn their line.
I wish you luck in making that change too.

Hooloovoo

le_loup wrote: »

Hey! I'm on your side.

I know

Nationwide changed their mind. Something made them. People were using the T&Cs they provided. They could either start multiple fights with their customers or someone senior reviewed the position and changed the stance.

I agree. But it was clearly an internal decision to change. No external body or individual made them change and agree a mistake was made. That's the point I was making.

Is there a difference between loss and consequential loss? You bet. And it looks like that's where they have drawn their line.
I wish you luck in making that change too.

Thanks

DragonQ

Haven't followed this thread for a while...is there a post that provides a good summary of the current situation?

Basically, is it now possible to transfer money into the Flexclusive ISA without issues using the standard ISA transfer forms?

KTF

DragonQ wrote: »

Basically, is it now possible to transfer money into the Flexclusive ISA without issues using the standard ISA transfer forms?

Yes it is.