Nationwide and Portman - After Merger

info_addict

Hi,

Just wondering, as I'm a member of both Nationwide and Portman (and have been for many years), after the merger is it worth me keeping my membership of Portman just incase Nationwide demutualise sometime in the future. I mean, if this happens would I be eligible for double bubble?

Mainly thinking of pulling out of Portman, as their rates are poor.

Thanks

Milarky

Your 'Portman' accounts will just become 'Nationwide' ones post merger anyway. Yes, keep at least one Nationwide account from now on with £100+ in it but feel free to close any other accounts in search of better rates elsewhere...

kazzy

info_addict wrote: »

Hi,

Just wondering, as I'm a member of both Nationwide and Portman (and have been for many years), after the merger is it worth me keeping my membership of Portman just incase Nationwide demutualise sometime in the future. I mean, if this happens would I be eligible for double bubble?

Mainly thinking of pulling out of Portman, as their rates are poor.

Thanks

the Portman exists no more. your accounts are now Nationwide accounts

bristolleedsfan

kazzy wrote: »

the Portman exists no more. your accounts are now Nationwide accounts

albeit now closed issue former portman accounts. :rotfl:

http://www.nationwide.co.uk/savings/portman_rates.htm

baby_boomer

So can we safely assume that Nationwide has abolished the vicious £30 transfer penalties on Portman ISAs?

bristolleedsfan

baby_boomer wrote: »

So can we safely assume that Nationwide has abolished the vicious £30 transfer penalties on Portman ISAs?

nationwide doesnt charge fees for moving isas out of nationwide.

as far as former portman isas, their is a period of time either 30 days or 60 days ( im not sure which from memory i believe its the latter) from merger completion date where former portman savers can transfer out both their isas without charge or notice, those with notice accounts can withdraw or close their accounts without notice as well during this period which from memory i believe is 60 days following merger completion date.

KTF

Can Nationwide members now use the Portman branches that have been retained or do they have to be refitted first?

baby_boomer

Milarky wrote: »

keep at least one Nationwide account from now on with £100+ in it but feel free to close any other accounts in search of better rates elsewhere...

Quite. Any saver who isn't "proud to be different" from Nationwide needs his/her head looking at.

MattB_4

KTF wrote: »

Can Nationwide members now use the Portman branches that have been retained or do they have to be refitted first?

Yes they can. All have (to my knowledge) been re-branded and set up to run as Nationwide. Although i wouldn't expect it to be perfect I haven't heard of any problems.

As for that ISA fee I'm not entirely sure I must admit. The product T's & C's haven't changed but that doesn't mean it would be charged. I'll try to find out for sure.

BWZN93

As MattB says, all Nationwide branches can now service Portman accounts, so there is no need to wait. All branches should now have Nationwide branding outside, however, the inside will probably look the same!! Some staff are still having a few technology glitches which might mean that a normal transaction may take longer, however, staff are working around the clock and other options are available so there shouldn't be any major problems.

Jo x

pazzazz

bristolleedsfan wrote: »

nationwide doesnt charge fees for moving isas out of nationwide.

as far as former portman isas, their is a period of time either 30 days or 60 days ( im not sure which from memory i believe its the latter) from merger completion date where former portman savers can transfer out both their isas without charge or notice, those with notice accounts can withdraw or close their accounts without notice as well during this period which from memory i believe is 60 days following merger completion date.

as someone who's been waiting since mid may for n/wide to set up an isa transfer in - good luck trying to get out :mad:
'Proud to be Indifferent'