Nationwide 0.75% 18 month ISA plus £50 bonus *** now withdrawn

pbartlett

Existing customers only. Can anyone explain how this works as it seems you need to xfer at least £10k in from another provider?

JGB1955

According to Nationwide Building Society to launch market-leading Isa for existing members (yahoo.com)

Savers need a minimum of £1 to open the account and it can be opened through the Society’s website, by app or in branch.

The new account will accept transfers-in and, as a further incentive, Nationwide will offer £50 cashback to those who transfer in at least £10,000 into the account using the Isa transfer service.

To benefit from the offer, Isa transfer-in applications need to be submitted while the account remains on sale and once the transfer is complete, £50 will be paid to the saver.

pbartlett

thanks for that - details seem to be few and far between. 0.75% for 18 months seems rather good, or are there better deals out there

wiseonesomeofthetime

Needs to still be open in April for me to consider as fully subscribed this year. 

Albermarle

https://moneyfacts.co.uk/

Richchad

I am not a member of Nationwide, so can I open a current account and then apply for the ISA or could I just apply for a simple savings account and become a member?

Also I looked at the website, no mention of the 18 month ISA or is this only seen after members log in?

Anyone opening an account just to get the ISA?

Baoser

wiseonesomeofthetime said:

Needs to still be open in April for me to consider as fully subscribed this year. 

Can you not transfer from another provider to Nationwide? If you don't top anything up surely you won't exceed the yearly allowance?

I had transferred away from N/W last year (but in this current tax year). I'm now thinking of transferring my Virgin ISA to N/W. Can I still do that if I've already opened a fixed cash ISA and transferred out of N/W? I haven't exceeded my ISA allowance yet.

Ed-1

pbartlett said:

Existing customers only. Can anyone explain how this works as it seems you need to xfer at least £10k in from another provider?

So effectively 1.25% for £10k+ ISA transfers and 0.75% for anything else.

grumiofoundation

Ed-1 said:

pbartlett said:

Existing customers only. Can anyone explain how this works as it seems you need to xfer at least £10k in from another provider?

So effectively 1.25% for £10k+ ISA transfers and 0.75% for anything else.

I make it 1.08% on 10k when including the £50 cashback since it’s an 18month account. 

MDMD

Some blurb on the press office section of their website:

https://www.nationwidemediacentre.co.uk/news/nationwide-offers-its-first-ever-isa-transfer-incentive-with-new-market-leading-isa-for-members

According to the link further up this thread, there is apparently a 180 day interest penalty to withdraw but on £10k that is about £40, so even if you withdraw the £10k as soon as the bonus is paid you make a profit.

The £50 is only available for transfers in.

Rich2808

Richchad said:

I am not a member of Nationwide, so can I open a current account and then apply for the ISA or could I just apply for a simple savings account and become a member?

Also I looked at the website, no mention of the 18 month ISA or is this only seen after members log in?

Anyone opening an account just to get the ISA?

Says to qualify you have to have an account open today. So in theory if you apply online for a savings account you may be eligible - it doesn't say there have to be any funds in it.?
Probably easiest to open is their instant access saver - you have 76 minutes!
https://www.nationwide.co.uk/products/savings/instant-access-saver/features-and-benefits