We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Nationwide ISA consolidation new subscription?

mageliken
Posts: 47 Forumite

I have had a long standing eISA with Nationwide which I have recently (this financial year);
A) Performed a partial transfer out to a Charles Stanley Direct Stocks and Shares ISA
'Consolidated' my eISA with Nationwide into a new Flexclusive ISA (Cash) Issue 9
Does the new Flexclusive ISA count as a new ISA subscription for this tax year, i.e. must I use this going forward for new cash ISA contributions (or presumably transfer the whole amount within the ISA to another provider?). I was of the understanding that unless I paid new money into the account that this was not the case, however Nationwide seem to disagree?
As Charles Stanley Direct are the provider for my previous year's Stocks and Shares ISA subscription, and I do not intent to open one with another provider this tax year, that this has no real bearing evening though part of my funds are listed as 'cash'. I assume this is uninvested and that it is still classes as sitting within the Stocks and Shares ISA?
Thanks in advance!
A) Performed a partial transfer out to a Charles Stanley Direct Stocks and Shares ISA

Does the new Flexclusive ISA count as a new ISA subscription for this tax year, i.e. must I use this going forward for new cash ISA contributions (or presumably transfer the whole amount within the ISA to another provider?). I was of the understanding that unless I paid new money into the account that this was not the case, however Nationwide seem to disagree?
As Charles Stanley Direct are the provider for my previous year's Stocks and Shares ISA subscription, and I do not intent to open one with another provider this tax year, that this has no real bearing evening though part of my funds are listed as 'cash'. I assume this is uninvested and that it is still classes as sitting within the Stocks and Shares ISA?
Thanks in advance!
0
Comments
-
What you do with previous year's allowances has no bearing on your £15,240 allowance for this tax year. You can move them wherever you want or withdraw them.
This year's allowance can be put into an S&S account to buy investments when you're ready, put into an ISA savings account, or split between the two.0 -
Rollinghome wrote: »What you do with previous year's allowances has no bearing on your £15,240 allowance for this tax year. You can move them wherever you want or withdraw them.
Thanks Rollinghome. To be clear, should this mean that I could open a new Cash ISA with another provider and make a new cash contribution? On the basis that the consolidated ISA, whilst it is a new account, only received funds as a transfer from my old ISA?0 -
Charles Stanley arranged the partial transfer out?
Nationwide is quite clear that the Flexclusive ISA issue 9 contains only funds transferred from an ISA holding subscriptions for previous tax years? The transfer process was carried out correctly?
If so, you should be able to contribute the whole of this year's ISA to the Flexclusive or use the whole of the allowance to open an ISA with another provider?0 -
Charles Stanley arranged the partial transfer out?
Yes that's correct, I filled in a form with Charles Stanley and they liaised with Nationwide.Nationwide is quite clear that the Flexclusive ISA issue 9 contains only funds transferred from an ISA holding subscriptions for previous tax years? The transfer process was carried out correctly?
If so, you should be able to contribute the whole of this year's ISA to the Flexclusive or use the whole of the allowance to open an ISA with another provider?
I was clear that this is what I wanted, having looked online the funds do show up as a "Credit" but perhaps more telling is that "Cash ISA payments made in this tax year" is £0.0 -
I was clear that this is what I wanted, having looked online the funds do show up as a "Credit" but perhaps more telling is that "Cash ISA payments made in this tax year" is £0.
That's fine then if they have - correctly - registered that you have not used any of your 2015-16 ISA allowance with them.
Unfortunately, some of the Nationwide staff have a shocking lack of knowledge. If I were you, I would complain if you were given incorrect information. Unless people do complain, Nationwide will be unaware that they have a problem.0 -
Unfortunately, some of the Nationwide staff have a shocking lack of knowledge.
The person I spoke to on the phone seemed very nice, but in keeping with what you said they had to phone me back after our conversation admitting they made a mistake about something else they'd said and having to re-request details!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards