Cash ISAs: The Best Currently Available List

ruby911

Hello in response to the Nationwide ISA question - I was told in branch last week that they will be launching a market leading instant access ISA AT 4.25%, but you have to have a Nationwide Current account. I think she said launches 7th April.
HTH

KTF

DragonQ wrote: »

What's a passbook based account? Does that basically mean branch-only access?

Yes, apparently the queues in their branches were getting a bit short so they decided to go back to the 1980s to recreate the pre-Internet age.

someone

KTF wrote: »

Yes, apparently the queues in their branches were getting a bit short so they decided to go back to the 1980s to recreate the pre-Internet age.

I would 'Like' this but seeing as we are going to a pre internet age I think a letter of thanks would be in order...

TBH, Nationwide have been playing around with Token accounts (where you have a card or passbook for the account). Maybe this is due to their market liking to have more than 'an account number' to prove they have money in the BS. They had a regular saver which had its own ATM card! If I remember rightly you could transact on the account over the internet (so there is some hope).

psychic_teabag

DragonQ wrote: »

What's a passbook based account? Does that basically mean branch-only access?

Might do. Though for a couple of accounts I've opened recently, I've received a passbook through the post, and then have operated it entirely online.

DragonQ

Well I guess I'll wait until Saturday before sending my cheque to the AA but if it's branch-only then I'm not interested. Also, if you have to have a current account then I don't think I'll bother either cos it's just too much effort.

KTF

Details of the Nationwide ISA are on their media site now:

http://www.nationwide.co.uk/mediacentre/pressreleases/viewarticle.htm?ID=1945

To coincide with the start of the new tax year, Nationwide will, on Saturday 7 April, be launching a brand new branch-based ISA paying 4.25% AER tax-free

Available to new subscriptions only, Flexclusive ISA is a variable rate, instant access account that guarantees to pay a core rate of at least 1.50% above the Bank of England Base Rate until 1 January 2014. At Base Rate’s current level, Flexclusive ISA would pay a core rate of 2.00% AER tax-free. In addition, the account will offer an introductory bonus of 2.25% fixed until 31 October 2013 bringing the overall rate, paid on balances of £1 and over, to 4.25% AER tax-free.

To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:

• Pay in £750 or more each month (excluding internal transfers) for the last 3 months, or:
• Agree to complete an Account Transfer from an account (non Nationwide) using our Account Transfer Service or have done so in the past four months.

To continue to be eligible for Flexclusive ISA, customers must meet all of the criteria above, as well as continuing to deposit at least £750 or more each month into the FlexAccount.

Consumerist

This looks more like current-account harvesting than an ISA.

Anyone for Hoop-la? Lots to jump through.

innovate

Consumerist wrote: »

This looks more like current-account harvesting than an ISA.

Anyone for Hoop-la? Lots to jump through.

Nothing much to jump through for tens of thousands of Flexaccount customers.

Granted - bit of an effort if you aren't a Flexaccount customer. They offer to do all the DD switching for you - though I know they probably cannot do Council Tax because councils seem a bit backwards when it comes to switching your DD.

My main criticism of this ISA is that you have to apply in Branch - - which seems like something from the stone age. Am going to do it, anyway, though, since I have the time.

Froggitt

IMHO this seems like a deliberate strategy to increase footfall in the branches, where I would guess they get a better cross-selling performance than they do online.

I had to go into branch to open Junior ISAs at Halifax, and as soon as it appeared that he wanted to know about finances other than the cheque in my hand, I told him that I wasnt interested in his pensions, shares, bonds, insurances etc, and could he please save half an hour of both our lives by skipping straight to the the Junior ISA opening.

meanscot

Is Nationwide accepting transfers in from other ISA's ?

Meanscot