Nationwide 2.5% Regular Saver ISA

le_loup

phemark wrote: »

So basically ISA is only good for one year, if you want highest returns?

A cash ISA is just a tax free wrapper for a savings account. So the same moving and checking regime applies with a few more restrictions.

phemark

Got it, thanks.

PoorPaul

Sorry, daft question here - only excuse is it is Sunday afternoon after a heavy meal and a drink or three...

I read the quote "The maximum deposit each calendar month is £1,250 until 1 March 2015"

I'm presuming 'calendar month' means if I opened this account with the full £1250 today, I can't make a further deposit until 27th May?

Or does it mean I would have maxed out the deposit allowed for 'April' but I have another £1250 deposit available for 'May'?

Thanks in advance....

le_loup

Erm. Yes you are drunk.
What is not understood by calendar month?
1st May could be your next contribution.

neil324

Delete.

found the answer.

PeteW

I'm a bit confused as to how this product works. With my First Direct regular saver, when I set it up I said how much I wanted to deposit every month and from what account. When I set up this Nationwide account, it just asked about the initial deposit, nor the regular ones that follow.

Does it automatically try to make the monthly transfers from your FlexAccount (like the First direct one), or do you just manually transfer in any amount up to £1250 each month from whatever account you like?

Cheers

Pete

KTF

Its a manual deposit. I opened one on the day that it was available and havent put anything in it yet.

Planning to put in the full 15k in towards the end of this tax year after it has been run through the various 'high' interest current accounts in the interim.

colsten

PeteW wrote: »

Does it automatically try to make the monthly transfers from your FlexAccount (like the First direct one),

only if you have set up an SO to do so

PeteW wrote: »

or do you just manually transfer in any amount up to £1250 each month from whatever account you like?

Manual transfer is fine

Save up to £1,250 every month until 1 March 2015, after which you can pay money in until you reach your annual ISA allowance. On 1 April 2015 your money will be transferred to an Instant ISA Saver or, if not available, the nearest equivalent instant access ISA

And more on http://www.nationwide.co.uk/support/support-articles/faqs/regular-saver-isa-manage-your-account-faqs#xtab:how-do-i-pay-money-in

How do I pay money into my ISA?

Additional deposits up to your annual ISA allowance can be made from non-ISA funds only by:

• By transfer from another non ISA Nationwide account in branch or via the Internet Bank (This link will open in a new window) *
• Cheque or cash at any Nationwide branch
• Bank credit / automated payment from an account held with another provider using the following details (we recommend you do this by the 25th of each month to ensure funds arrive by the end of the month):
  
  Sort code: 070093
  Account number: 33333334
  Roll/Ref: full ISA account number e.g. 1234/123456789

* Funds can be transferred from your Nationwide card account or instant access savings account using the Internet Bank. The easiest way is using the "Quick Transfer" menu on the left hand side of the Internet Bank screens. Your transfer will take place immediately and your ISA will be updated online to show the new balance.

hgt

KTF wrote: »

Planning to put in the full 15k in towards the end of this tax year after it has been run through the various 'high' interest current accounts in the interim.

I really don't get the point of holding fire until March to max out this account - am I missing something?

Surely you'll just get the 2.5% for one month at most, before the Nationwide reg saver comes to the end of it's term and converts to a bog standard ISA paying peanuts?

badger09

hgt wrote: »

I really don't get the point of holding fire until March to max out this account - am I missing something?

Surely you'll just get the 2.5% for one month at most, before the Nationwide reg saver comes to the end of it's term and converts to a bog standard ISA paying peanuts?

The idea is that the balance of the £15k will have been sitting in various high interest current accounts earning up to 5% for the most of the year