Continue existing Nationwide Instant ISA Saver 1.50%

intalex

I have an Instant ISA Saver from last year which is still displaying an interest rate of 1.5% (new issue is @ 1.25%).

It has allowed me to deposit the new tax year's allowance after going through a "renew" option in Online Banking.

I've also processed a transfer of a maturing Santander 2yr FR ISA, into this Instant ISA Saver on maturity (applied via Nationwide's website).

Having done all the above (quick and easy, btw), just wanted to check if anyone knows whether the Nationwide ISA Saver does actually still pay 1.5%?

Does anyone still hold one of these and see it as a good option among the other options?

badger09

intalex wrote: »

I have an Instant ISA Saver from last year which is still displaying an interest rate of 1.5% (new issue is @ 1.25%).

It has allowed me to deposit the new tax year's allowance after going through a "renew" option in Online Banking.

I've also processed a transfer of a maturing Santander 2yr FR ISA, into this Instant ISA Saver on maturity (applied via Nationwide's website).

Having done all the above (quick and easy, btw), just wanted to check if anyone knows whether the Nationwide ISA Saver does actually still pay 1.5%?

Does anyone still hold one of these and see it as a good option among the other options?

1) Looks like it
http://www.nationwide.co.uk/support/product-support/savings-and-isas

2) I don't hold it.
Are you sure cash ISA is best for you? Have you maxed out current accounts paying between 3% & 5%?

Lynn11

I recently spoke to the Nationwide about opening a new ISA this year as my old one is going down to 1% rate. The nationwide does have a ISA of 1.5% but if you are transferring in old ISA money from elsewhere it will be opened at 1.25%. I am thinking about this as its still better than 1%.

xylophone

You can do better.

http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

Archi_Bald

Lynn11 wrote: »

The nationwide does have a ISA of 1.5% but if you are transferring in old ISA money from elsewhere it will be opened at 1.25%.

This doesn't sound right. The interest rate on the Flexclusive ISA (1.5%) is not affected by incoming transfers.

Rodders53

Flexclusive ISAs are only for NEW subscriptions only... no transfers in allowed... even from other Nationwide ISAs...

I don't know if the Instant ISA referred to in the OP is still 1.5% but this http://www.nationwide.co.uk/~/media/MainSite/documents/products/savings/terms-and-conditions/P2764.PDF summarises the changes made recently by Nationwide.

Older products' rates can be accessed here: http://www.nationwide.co.uk/support/product-support/savings-and-isas

Archi_Bald

Rodders53 wrote: »

Flexclusive ISAs are only for NEW subscriptions only... no transfers in allowed... even from other Nationwide ISAs...

It says transfers in are allowed "Any time" on Nationwide's website: http://www.nationwide.co.uk/products/isas/isas

As well as "Transfers accepted from other Nationwide ISAs and external providers."
http://www.nationwide.co.uk/products/savings/flexclusive-isa/features-and-benefits

Where do you get your information from?

le_loup

You are correct - however, it looks to me like the conditions have changed - I was certain that the Flexclusives only used to take new money. Can't lay my hands on any old T&Cs at the moment.

le_loup

Following the above:
"All of our ISAs accept transfers in from another ISA except Save to Buy ISA and Regular Saver ISA."
is in the current T&Cs for Flexclusive ISAs.

My old issue 7 has an introductory letter stating:
"Please remember this account is for new cash ISA subscriptions only ....."

Archi_Bald

That was in the heady days of 4.5% interest, which was valid for only 1 year. Though it isn't really relevant what the old T&Cs were as all you can take out now is accounts with current T&Cs. Sorry if this sounds obvious.

CLAPTON

the transfer in rule seems to have changed a couple of days ago : along with the introduction of the 2% regular monthly payment ISA

doesn't seem to have announced as such : just new rules on the website