Nationwide 0.75% 18 month ISA plus £50 bonus *** now withdrawn

ANGLICANPAT

 Got an email today from the BS currently holding the isa  to say they have received  the transfer request  . So, getting there!  

pbartlett

This is just appallingly slow!

Since (to be fair) Nationwide are usually pretty good when it comes to this sort of thing, I can only imagine they were totally and utterly inundated.

Just goes to show that in this current  climate don't stick your head above the parapet with a half-way decent interest rate.

BTW, for what it's worth, I transferred a VM ISA to Nationwide about a month ago and it went through in 5 days! So probably a separate and dedicated team dealing with the 0.75% one slowly working their way through.

worldtraveller

Got letter from Nationwide 27th April advising they had written to existing provider to request funds.
On 28th April got text asking to call them as they needed a different account number for the existing provider, so called them and advised it was on my application form already, but also gave it to them. Told that interest would be paid from the 27th April.
Called again 8th June and they advised all was in hand.
Called again 24th June and they advised all should be OK.
It's now 26th July and have still heard nothing more, and £50 due "on, or before 30th June", not paid yet.

Haddock22_2

I wonder how many people are still waiting,like myself for the transfer of the isa from another provider.i remember a while back nationwide saying it was a few thousand but who knows?

Richchad

Had this reply regarding the £50 bonus...

Following a high demand for our Member Exclusive Fixed Rate (MEF) ISA, we had over 28,000 members that have qualified for the £50 cashback incentive so we are working on getting these payments processed as soon as possible.  Please be re-assured that cash back payments are being made ongoing and we will make sure no eligible member misses out.

worldtraveller

Indeed Haddock, who know's? However, I'm not concerned, as I'm sure others aren't either, as Nationwide have already confirmed that they will be paying me interest from 27th April. So, basically, I'm doubling up on interest now, maintaining the original provider interest rate + Nationwide's too. Sure, the £50 extra is now overdue, but it will surely be paid too, or interest demanded on that as well.

worldtraveller

Thanks Richchad, appreciate the post!

You have to laugh though.To process a contractual £50 payment to Nationwide customer's that have legitimately accepted their offer, and have provided all the requested information, can be made instantaneously!

If they don't pay out the £50 within the offered terms, they are at fault, regardless of their excuses!

worldtraveller

The terms were very clear in their "ISA Member Cashback - Terms and Conditions"

2. If you qualify, we'll pay £50 into your Nationwide current account or savings account on or before 30th June 2021"

Nothing can be any clearer really!

Yorkshire_Pud

Transfer now taken place so just shy of four months from application. Left old isa provider Friday still not credited/showing nationwide account, but received letters fro both providers confirming it.

Nahh where’s me £50!

Beestonley

Applied 6.4.21
Still waiting for anything, something, to happen, since 10th April (written confirmation received from Nationwide)
Called them 21st April, to re-confirm old provider details
Called them 21st May, told everything "in hand"
Nationwide themselves have not proactively contacted me since 19th April
No bonus received