Nationwide 0.75% 18 month ISA plus £50 bonus *** now withdrawn

refluxer

d63 said:

Did anyone who received their £50 bonus also receive a confirmatory email (or something of that nature) in order to notify them of this fact?

My £50 bonus was paid into my Nationwide account yesterday and I got a confirmation text today.

pbartlett

I also got a text - a few days after is was actually paid no not real-time!

wiseonesomeofthetime

Ditto @xylophone

Though it was paid on 22 June. Three days ago

Berwynview

uptdale said:

No sign of my £50 bonus (or my wife's) either.  And still no sign of my new ISA on my NW online account.  The money left my previous ISA provider on 31 March, so it seems to have been in a black hole for almost 3 months now!

Still waiting for money to arrive from my TSB ISA - was told it would be completed by mid June but still no sign of it. Money left TSB on 16 April.....   Tried to use online chat yesterday but wasn't working property.

Cello55

I'm sure that I am not the only one who is extremely frustrated with Nationwide's very slow response to their application for this ISA and the lack of any reliable information on when it will be resolved. 

I applied for a new ISA including a transfer from another provider in the first week in April 2021.  I received a letter from the Nationwide dated 13 April 2021 saying that "we have written to your existing provider(s) to request your funds from them.".  As subsequent communications have revealed this was NOT the case.  It would appear that they did not actual request the transfer till around the middle of May 2021, over 1 month after Nationwide said that they had written.  This delay caused problems with the transfer from my previous ISA provider who rejected Nationwide's transfer request leading Nationwide to cancel the initial transfer request.  I raised a complaint with Nationwide in an attempt to find out what was happening.  I resolved the issues with the previous provider in the last week of May and let Nationwide know the same day, via their complaint co-ordinator, that they should raise a new transfer request.  It is now over a month later and it appears that the new transfer request has still not been raised. 

As a number of others have already noted although the new subscription was somewhat belatedly taken from my current account towards the beginning of I can still not see details of the new ISA via online banking.

Although I get regular calls from their complaint co-ordinator they have not been able to advise when that matter will be resolved.  I am getting quite a collection of letters acknowledging my complaint and giving revised dates for resolution of the issue but after two dates have passed with no significant update I quite frankly have no confidence that the next date will be honoured either.

fleemkt

I applied for my ISA at the end of the last tax year 2020-21 and requested to transfer my external ISA (with prior years') to this Member Exclusive ISA.  As with many others, there were delays which led to one thing or another, but it's been eventually transferred recently.

However, the subsequent delcaration letter through the post mentions:

- I apply for a cash ISA for the tax year 06.04.21 to 05.04.22 and each subsequent tax year ......

- I have not subscribed, and will not subscribe, more than the overall subscription limit in total to .... cash ISA in the same tax year I subscribe to this ISA .......

- I have not subscribed, and will not subscribe, to another cash ISA in the same tax year I subscribe to this ISA .......

Is this just standard blurb and can be ignored considering it was initiation of a transfer of ISA funds during the last tax year 2020-21?

I have subscribed to another cash ISA for the annual limit from 06.04.21 for tax year 2021-22.

Richchad

Cello55 said:

Although I get regular calls from their complaint co-ordinator they have not been able to advise when that matter will be resolved.  I am getting quite a collection of letters acknowledging my complaint and giving revised dates for resolution of the issue but after two dates have passed with no significant update I quite frankly have no confidence that the next date will be honoured either.

I suppose at least you are getting some response for your complaint, I sent a leter of complaint over 2 weeks ago and have not had any reply, email or phone call since.

They must be in a real mess with this as it surely shouldn't take as long as this to resolve the transfers requested months ago.

After requesting many times for them to submit my transfer request to Charter Bank, my money is still sitting in a low interest ISA account as my term finished a while ago.

NW say they will pay interest from when application was accepted but I am not sure if this will be the case until I do get my transfer completed.

It is all very unsatisfactory, I can't understand why they didn't see this coming making an attractive offer that would lead to many applications.

fleemkt

fleemkt said:

I applied for my ISA at the end of the last tax year 2020-21 and requested to transfer my external ISA (with prior years') to this Member Exclusive ISA.  As with many others, there were delays which led to one thing or another, but it's been eventually transferred recently.

However, the subsequent delcaration letter through the post mentions:

- I apply for a cash ISA for the tax year 06.04.21 to 05.04.22 and each subsequent tax year ......

- I have not subscribed, and will not subscribe, more than the overall subscription limit in total to .... cash ISA in the same tax year I subscribe to this ISA .......

- I have not subscribed, and will not subscribe, to another cash ISA in the same tax year I subscribe to this ISA .......

Is this just standard blurb and can be ignored considering it was initiation of a transfer of ISA funds during the last tax year 2020-21?

I have subscribed to another cash ISA for the annual limit from 06.04.21 for tax year 2021-22.

Would any ISA experts be able to advise please?

kuratowski

@fleemkt - You haven't paid any new money into the Nationwide ISA in 2021-22.  Only new money is a subscription, transfers don't count as subscriptions.  Thus it is strictly correct that "I have not subscribed... to another cash ISA in the same tax year I subscribe to this ISA" so you have not violated the ISA declaration.

fleemkt

kuratowski said:

@fleemkt - You haven't paid any new money into the Nationwide ISA in 2021-22.  Only new money is a subscription, transfers don't count as subscriptions.  Thus it is strictly correct that "I have not subscribed... to another cash ISA in the same tax year I subscribe to this ISA" so you have not violated the ISA declaration.

Good point and makes sense.

So I assume it's possible to apply for several ISAs for the same tax year with different providers, but as long as I don't 'subscribe' or pay any of that particular years' allowance in, then it's fine.  If I do, the allowance has to stay in one pot / with one provider.