Do not understand my ISA

CBG

Took out Cash ISA last year for full amount with Nationwide as a Flexiaccount special ISA rate of 4.25%. Very good.
Yesterday called into the High Street Branch to check what would be the best thing to do with my isa for the next year.
Nothing I was told ... leave it alone as I will continue to get 4.25% until next October.

How is this ??????????????????????

thenudeone

4.25% is miles better than any other Cash ISA available at the moment.

Nationwide promised to keep the rate until October.

What is the problem?

Is this a troll?

luci

Not next October, this October.

If you read the T&Cs you received it states that the bonus of 2.25% is payable until 31 October 2013 then it guarantees to pay 1.5% above the BOE base rate until January 2014.

xylophone

And you will contribute the 2013-14 allowance?

CBG

As I do everything on line I do not have loads of paperwork to refer to and automatically assumed the rate was for one year.
Very pleased ir ain't

CBG

Just one more thing..When do I actually get the interest ? When I finally opt out of the IAS ???

le_loup

CBG wrote: »

Just one more thing..When do I actually get the interest ?

As specified in the Terms and Conditions.

innovate

CBG wrote: »

As I do everything on line I do not have loads of paperwork to refer to

It is quite prudent to keep records of any T&Cs you have agreed to, whether online or offline. Just because you do an only account doesn't mean the T&Cs aren't available online, too....................

You will find the terms for your ISA somewhere near http://www.nationwide.co.uk/savings/legal.htm