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Nationwide Flexclusive ISA rate falls already!

richyplops
richyplops Posts: 3 Newbie
in Savings & investments
MSE was showing Nationwide's Flexclusive ISA as a best buy ISA last week with a 4.25% rate (includinging a 1.5% bonus) so I opened one in branch on Saturday. There were posters in branch advertising the 4.25% rate.
I've checked my interest rate on line today and it's now 3.5% (including a 1.5% bonus). The MSE page now shows 3.5% (including the 1.5% bonus) but the savings widget against it still calculates at 4.25% so I'm sure I'm not remembering things wrong. Has anyone else noticed this nasty little change or have I got it wrong?

Comments

  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    richyplops wrote: »
    MSE was showing Nationwide's Flexclusive ISA as a best buy ISA last week with a 4.25% rate (includinging a 1.5% bonus) so I opened one in branch on Saturday. There were posters in branch advertising the 4.25% rate.
    I've checked my interest rate on line today and it's now 3.5% (including a 1.5% bonus). The MSE page now shows 3.5% (including the 1.5% bonus) but the savings widget against it still calculates at 4.25% so I'm sure I'm not remembering things wrong. Has anyone else noticed this nasty little change or have I got it wrong?

    The lower rate is a new issue. Holders of the 4.25% account still get 4.25%.

    For now anyway.
  • richyplops
    richyplops Posts: 3 Newbie
    Cheers. It will be good to hear which rate Nationwide think I'm on. I'm not getting my hopes up!
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    ffacoffipawb wrote: »
    The lower rate is a new issue. Holders of the 4.25% account still get 4.25%.

    For now anyway.
    as I recall that account carried

    - a 2.25% fixed rate bonus (to October 2013)
    - an underlying variable rate of 2% with guarantee of BOE+1.5% to sometime in 2014 (April?)

    So the rate is actually BOE+3.75% until October 2013
    .....under construction.... COVID is a [discontinued] scam
  • le_loup
    le_loup Posts: 4,047 Forumite
    richyplops wrote: »
    I opened one in branch on Saturday.
    So you will be getting the old rate. What are you worried about? No one has done anything nasty to you!
  • richyplops
    richyplops Posts: 3 Newbie
    Not so sure Le Loup. As the branch was busy on Saturday they took the application form from me on Saturday but actually opened the account on Tuesday. I'll wait to hear what they have to say.
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    The interest didn't change until Today (or rather, Yesterday - Thursday), so you'll be fine.
This discussion has been closed.
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