The Top Easy Access Savings Discussion Area

deebee

so confused.....Nationwide
I have a Nationwide ISA with just over 19k in, I had a maturity instruction form, advising it will be switched to a variable rate ISA - like I'm gonna let them do that again...anyway, the options I have are all very odd, as in 6month, 14month or 18 month options - whatever happened to the 12 month option??? - and when I look at their website the bonus rate is only until October - this seems like a real con, and also very confusing - should I move my funds to a new bank ISA? if so, any recommendations?

Mr._H_2

deebee wrote: »

so confused.....Nationwide
I have a Nationwide ISA with just over 19k in, I had a maturity instruction form, advising it will be switched to a variable rate ISA - like I'm gonna let them do that again...anyway, the options I have are all very odd, as in 6month, 14month or 18 month options - whatever happened to the 12 month option??? - and when I look at their website the bonus rate is only until October - this seems like a real con, and also very confusing - should I move my funds to a new bank ISA? if so, any recommendations?

Hi deebee. This thread is for discussion of instant-access savings accounts. It would be best to make your request in the dedicated ISA forum.

Steve_xx

deebee wrote: »

so confused.....Nationwide
I have a Nationwide ISA with just over 19k in, I had a maturity instruction form, advising it will be switched to a variable rate ISA - like I'm gonna let them do that again...anyway, the options I have are all very odd, as in 6month, 14month or 18 month options - whatever happened to the 12 month option??? - and when I look at their website the bonus rate is only until October - this seems like a real con, and also very confusing - should I move my funds to a new bank ISA? if so, any recommendations?

Why don't you simply move the whole lot away from them?

Halifax have a 5 year cash ISA that pays 4.5% and you can transfer existing ISA's into it. I think that's about the best deal currently if you are prepared to leave it for 5 years.

2010

Halifax 3 year ISA seems a good rate at 4.25%.
0.25% for an extra two years two years seems poor value.

Steve_xx

2010 wrote: »

Halifax 3 year ISA seems a good rate at 4.25%.
0.25% for an extra two years two years seems poor value.

It's all guesswork. Who knows what interest rates will be in 3 or 5 years time?

2010

Two years is a long time for a measly 0.25% extra.

Steve_xx

2010 wrote: »

Two years is a long time for a measly 0.25% extra.

It's 4.5% for each of the 5 years, so it's not quite as bad as you would portray. And, as I said, none of us knows what interest rates will be like 5 years hence.

At the end of the day, nobody is making you have it!

GoGetGirl

Anyone had experience of the Monmouthshire BS? Just looking at their Flexible Saver Iss 2, paying 4% but incs 2% conditional bonus payable on 1st anniversary. Variable rate so could draw you in and then drop rate

Mr._H_2

GoGetGirl wrote: »

Anyone had experience of the Monmouthshire BS? Just looking at their Flexible Saver Iss 2, paying 4% but incs 2% conditional bonus payable on 1st anniversary. Variable rate so could draw you in and then drop rate

That's an interesting looking account. It's actually a regular saver rather than instant access but it has unusual features for a regular saver which could make it effectively an instant access account for some people. The unusual features are:

• You can deposit up to £1000 a month (or as little as £20)
• You can make up to 4 withdrawals a year without penalty

ejv

Mr._H wrote: »

You can make up to 4 withdrawals a year without penalty

So this would allow one to close the account as well ,without penalty?