Nationwide e isa

katie1234

quick question im hoping someone can help with.

I opened an e isa on 2nd april last year with the full years amount. Then put in this tax years full amount and expected interest to be paid in April this year. Rang Nationwide and they say interest will be paid in August.
It was only after i got off the phone i wondered why that would be? Would anyone be able to shed some light? Also will it still be the 3% interest rate for the full term until August?

Ive tried looking at my online banking to find out what isa i signed up for but cant find any details on it and cant remember myself.
This is my first isa so pretty confused as to what im supposed to do with it now!

Any advice appreciated.

innovate

Sounds like you may have signed up for their 18 months fixed rate ISA?

Not a problem - - just take a step back and decide what to do with your 2012/2013 ISA money. For this money, you'd probably want to look at their new 4.25% instant access ISA - available from this Saturday, in branch applications only. You cannot transfer your existing ISA into this new ISA, but you are perfectly entitled to the new ISA.

katie1234

Thanks. Must be an 18mth 1then. Ill remember to pay more attention this year.

Was just reading the other thread about the new isa and will be in the branch this Saturday! Athough if its anything like a normal Sat will be in a while!

AirlieBird

If you read the T&C you would have seen that Nationwide pay interest on 31 August for their ISAs.

The interest rate for the instant access variable rate e-ISA opened on 2 April 2011 - assuming that is what you did open - is 3.1% including a bonus until 30 September 2012 (extended from 31 July 2012). It should be showing in your online banking. I'd enquire and get it added if not. You can transfer it to the Online ISA 3 to get 3.1% interest until 30 September 2013, but you should check what you've got before you try to move it.

evenasus

Looking at the Nationwide website, I can't see that they did a fixed rate E-ISA . http://www.nationwide.co.uk/savings/all_accounts/all_accounts.htm

Give Nationwide a ring and ask them if you can't see yourself.
They will tell you what interest you are getting on your ISA.

If it isn't fixed, there is nothing to stop you from transferring your ISA any time you like.
I know they pay interest in August but if you transfer you ISA now, the interest will be added at the point of transfer.

I transferred an E-ISA with them a few weeks ago. I transferred it to their Online ISA. This was very easy to do.

david78

Some Nationwide ISAs pay interest at the end of March and some at the end of August. The e-ISA is one that pays it in August.

If you have an e-ISA is would show as this online, and you should have had some interest already in August last year.

If you want interest now, you could always do an internal transfer to the Online ISA. This also extends your bonus period until October 2013.