Transferring My ISA

miss-g-2012

Hello Guys & girls. Sorry if this has been asked before, but i'm new to this, basically I have an e-isa with nationwide, i had it a few years now, I always get my interest annually in august. This year my isa was 3.10% interest. I added £90 to the whole thing since tax year started, but recently got a letter from Nationwide, saying from 31st October 2012, my interest for rest of tax year is dropping to 1.75%. I have seen less well know isa's out there at over 3.00% still, I have always been with Nationwide, and wondered what my best plan of action is to keep earning a decent rate of interest or am I stuck at 1.75% with Nationwide.

Any advice would be most welcome, heard about penalties etc. but not really sure what this will mean for me if I change? Thanks. Michelle.

xylophone

http://www.nationwide.co.uk/savings/cash_isa/onlineisa/default.htm
Transfer to issue 7?
Arrange for a transfer to a new provider?http://www.moneysavingexpert.com/savings/best-cash-isa#cheshire

Gromitt

If you want to stay with Nationwide, you'll have to ask them to open the new issue and transfer the funds across (do not do this yourself).

Do you allow Nationwide to send you marketing information? Earlier this year they were allowing people to open 4.25% ISAs, valid until next year. The offer closed about a month later due to the amount of applications (not really a surprise!).