Nationwide Flexclusive Issue 1 ISA

patgc

When this ISA was offered you were unable to transfer in from an existing ISA (Nationwide or other). Have now found out that as from 11th Jan13 they have changed this to allow transfers. Nationwide say they had to do this due to a legal technicality. So if you hold this ISA at 4.25% its worth transfering from others, even though the bonus expires in Sept/Oct. They are not informing investors of this at the moment.

innovate

Have you got this in writing?

Seems to have to do with the discuss in this thread:https://forums.moneysavingexpert.com/discussion/3886753

patgc

Yes, have it in writing and this has been confirmed by their complaints dept.Have now transferred my other Nationwide ISA into Flexclusive Issue 1 with no problem at all.
They have not informed current holders of the Flexclusive 1 as it was not actually written in the Terms & Conditions of the ISA, it was advertised and stated at the point of sale that you could not transfer in. They say that as the T&C have not changed they do not have to tell current holders.

KTF

Can you transfer in from any other external ISA into the FlexclusiveISA or does it have to go via another Nationwide ISA first?

My Northern Rock 3 year stepped ISA is maturing soon and it would be ideal to move it to this and roll everything up into on ISA again.

patgc

You have to already hold this ISA to be able to transfer in, so if you do then you can now transfer from other providers. This is what they have told me.

KTF

Very good. I know where my maturing ISAs are going then

someone

I know where £26k is going now

someone

patgc wrote: »

Yes, have it in writing and this has been confirmed by their complaints dept.

I wonder how many in Nationwide know about this? Might be a good idea to post copy (with names etc removed) of this in case they argue otherwise with other people holding the account.

le_loup

No! Don't do that. If only one letter has gone to the OP N'wide will identify and there could be bad consequences for the OP.
Thanks for the info. Only confirms what many of us thought; they hadn't a leg to stand on.
Great news.

lippy1923

Just text a friend of mine who works for Nationwide and she knows nothing about this?

Hopefully its true as I have another Nationwide ISA with over £6k in. Its not bad, earning 3.1% but would be great to consolidate into 4.25% one.

opinions4u

"The Flexclusive Isa will pay a core rate which is at least 1.5% above the base rate until January 2014, and until 31 October 2013 it will pay a 2.25% bonus on top of that. The account, which can be opened with just £1, is available through Nationwide branches only"

Keep an eye on the rate towards the end of October.