Nationwide Reducing Rate

BANKER

My wife and I have been with Nationwide for many years and we have a number of accounts including two Flexclusive ( the clue is in the name) Isas. We were notified in good time that the rate was reducing to 1.2% on 1st June and we accepted it. However today when I logged into our accounts an advert flashed for the latest Flexclusive ISA at 1.3%. Ok whilst the rate is very little difference the principal of being a loyal customer goes out of the window. I had a heated debate with the call centre who eventually informed me that it was not policy to offer the best rate when there is an anniversary change. So much for being a Building Society that rewards loyal customers.

Yorkshire_Pud

I've just checked the Nationwide info from their Savings and ISA Product Support page and it explicitly states that from 1st June the 'Flexclusive ISA no issue number' LOL now incorporates issues 3 to 9.

So yes Nationwide ARE offering a Flexclusive ISA at 1.3% and still supporting issue 10 1.5% issue 11 1.3% and issue 12 1.3%.

Sophistry, and misleading information prior to today from Nationwide.

My rather long list of Nationwide accounts now looks like a plague of locusts have found it (except for the Regular Saver of course!)

Stompa

I logged in this morning just to double check that my Direct Cash ISA 3 had dropped from 1.5% to 1.0%. On logging in I got a pop-up advising me that I could transfer to an Instant ISA Saver at 1.1%. At some point I'll transfer elsewhere, but for now are there any disadvantages in doing the transfer? Are NW to NW transfers instant?

Thanks

le_loup

Stompa wrote: »

Are NW to NW transfers instant?
Thanks

Yes they are.

roddydogs

No their not if your opening the "new" ISA, ive been quoted "A Few days"

roddydogs

roddydogs wrote: »

No their not if your opening the "new" ISA, ive been quoted "A Few days" but interest is backdated.

colsten

roddydogs wrote: »

No there not

where, if not there?

roddydogs

Happy now cleverclogs?

sharpinf

sharpinf wrote: »

My current predicament is I've got an old ISA with Nationwide that's going down to 1% but as I've got a H2B with the Halifax I don't want to move it.

Does anyone know if I'm allowed to withdraw all bar £1, put it into high
interest current accounts and put it back in before April 2017 or would that be considered contributing to two Cash ISAs?

Thanks

colsten wrote: »

You should be able to do that - read up about Flexible ISAs. Nationwide definitely do offer these but you have to confirm that the one you have is indeed a flexible ISA.

Thanks very much for this, my Nationwide ISA is definitely flexible - to check contributing to the Halifax H2B ISA during the year won't cause me any problems come April for repayment (giving net contribution of zero)? - reading this guidance https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/467379/ISA_Guidance_Notes.pdf condition 6.82 seems to suggest it is OK but wanted to check my comprehension!

System

A supposed mutual company exploiting loyalty...