Nationwide and Portman - After Merger

bristolleedsfan

pazzazz wrote: »

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'

lol im splitting my ex portman isa, sent off transfer in applications to 2 building societies on the weekend, will be interesting to see if nationwide transacts funds out within 30 days. :cheesy:

MattB_4

I think ex-Portman product admin is still done by old Portman teams so might not get mixed in with the pre-merger NBS work yet.

BWZN93

Thats what ive been led to believe anyway, the Portman teams are still in operation so will more than likely be processed separately for the immediate future....

Jo x

maxsec_2

MattB wrote: »

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.

have a look at the queues inside the old Portmean branches, there are problems with ex-portman staff getting on the NW systems.

gt94sss2

bristolleedsfan wrote: »

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.

Do you have a reference for this? I can't see anything on Nationwide's website about this..

Regards
Sunil

david69_2

When can i close my portman account , do i have to wait until I've got the cheque.

bristolleedsfan

gt94sss2 wrote: »

Do you have a reference for this? I can't see anything on Nationwide's website about this..

Regards
Sunil

was in merger transfer document, someone else has confirmed 60 days following merger that notice accounts/isas transferred out without notice or fee.

bristolleedsfan

david69 wrote: »

When can i close my portman account , do i have to wait until I've got the cheque.

the relevant dates/conditions of merger entitlements have now passed, merger has now taken place, their is no reason at all why former portman accounts cannot be closed.

whilst merger cheques wont be posted until at least 17th september they will have in all probability already have been produced and be ready to post.

welsh_lad_1985

The £30 transfer fee HAS been abolished.
For 60 days after merger date, you can transfer ISAs without notice.
However, if you hold a Fixed Rate ISA with Portman your account conditions may specify a 90 day loss of interest when transferred. If thats the case, your penalty would still be charged!

Your Portman accounts will be classed as Nationwide accounts from merger date but it will take up to 12 months from the date for everything to be transferred to Nationwide accounts.

Branches can be used by Nationwide and Portman customers - some branches currently have Nationwide and Portman computer systems, others have just Nationwide systems and have a temporary Cross-Society system which still allows transactions but can take longer as book transactions have to be handwritten.

Have patience with the staff in your branch - its a difficult time for them so they will do their best to process your transaction as swiftly as possible!

MattB_4

welsh_lad_1985 wrote: »

Your Portman accounts will be classed as Nationwide accounts from merger date but it will take up to 12 months from the date for everything to be transferred to Nationwide accounts.

And the rest! Good post though