Nationwide think I haven't used my full cash ISA allowance!

Hooloovoo

Curious situation ...

Nationwide have just updated their internet banking to show interest rates, and also a summary of ISA contributions.

I hold an e-ISA with them containing several years contributions.

In April I opened a Flexclusive ISA, which I funded with £500 new money subscription from my Flexaccount.

A couple of months later I did an online transfer direct from my e-ISA to my Flexclusive ISA of £5140. This was a personal transfer and so should have used up my remaining ISA allowance for this year since the money transferred outside of the ISA. This is ok because I wasn't planning on paying any more money in this year.

I can now see online that apparently I have only funded £500 of my cash ISA so far this year.

I know Nationwide allow you to use several different ISA products to make up your yearly allowance.

Have they inadvertently allowed me to transfer-in to my Flexclusive ISA when it specifically says transfers-in are not allowed?

Obviously for a definitive answer I should contact Nationwide, but if a mistake has been made I don't want to give the game away ...

dunstonh

Have they inadvertently allowed me to transfer-in to my Flexclusive ISA when it specifically says transfers-in are now allowed?

do you mean not instead of now?

It may be that they allow internal transfers but not external transfers. It maybe a mistake.

Obviously for a definitive answer I should contact Nationwide, but if a mistake has been made I don't want to give the game away ..

If you want to be honest then you need to check. If dishonest, then you may or may not get away with it but that is a consequence of being dishonest. Your morals. your choice.

Hooloovoo

dunstonh wrote: »

do you mean not instead of now?

Yes I did. I'll edit it.

It may be that they allow internal transfers but not external transfers. It maybe a mistake.

As far as I know internal transfers were not allowed.

If you want to be honest then you need to check. If dishonest, then you may or may not get away with it but that is a consequence of being dishonest. Your morals. your choice.

Hardly moral crime of the century. I am just slightly annoyed if I can indeed transfer my old eISA across since I've just moved half of it to the fixed rate Post Office account at 3.6%. If they allow internal transfers I could have moved all of it to 4.25%!

EDIT: Well it turns out Nationwide have messed the whole thing up and transfers are allowed - read this thread onwards.