Missed NW loyalty maturity date.

howryoo

I think you'll still be able to apply for their 1 or 2 year fixed ISAs even if it's matured, as their maturity options page states that 'you can only open this account if you have a maturing fixed rate ISA or a Fixed Term ISA Maturity account'.

Think you'll need to confirm maturity date and account details, but not sure if worth commiting at the moment.

I might consider their Triple Access ISA for the moment.  Correct me if I'm wrong, but despite them saying you can only withdraw to a Nationwide current or savings account, it's only because they don't want you to withdraw to an external 'nominated account' like many other providers, but transferring out (using one of your three penalty-free withdrawals) should be fine - isn't it?  It's the nature of the product; being able to transfer to another ISA product (internal or external), to keep it within its ISA wrapper - correct?

intalex

howryoo said:

Correct me if I'm wrong, but despite them saying you can only withdraw to a Nationwide current or savings account, it's only because they don't want you to withdraw to an external 'nominated account' like many other providers, but transferring out (using one of your three penalty-free withdrawals) should be fine - isn't it?  It's the nature of the product; being able to transfer to another ISA product (internal or external), to keep it within its ISA wrapper - correct?

What I did was during the opening process for the triple access, I specified the option to transfer in the maturity account balance and it worked just fine. I did this straight away on maturity day as 1.50% was not bad whilst I waited a few days for a better fixed deal - I've now initiated a transfer to Newcastle's 2-year fix at 4.10%. Only thing is the new triple access ISA only showed up in online/app banking the next day.

howryoo

intalex said:

howryoo said:

Correct me if I'm wrong, but despite them saying you can only withdraw to a Nationwide current or savings account, it's only because they don't want you to withdraw to an external 'nominated account' like many other providers, but transferring out (using one of your three penalty-free withdrawals) should be fine - isn't it?  It's the nature of the product; being able to transfer to another ISA product (internal or external), to keep it within its ISA wrapper - correct?

What I did was during the opening process for the triple access, I specified the option to transfer in the maturity account balance and it worked just fine. I did this straight away on maturity day as 1.50% was not bad whilst I waited a few days for a better fixed deal - I've now initiated a transfer to Newcastle's 2-year fix at 4.10%. Only thing is the new triple access ISA only showed up in online/app banking the next day.

Thinking of doing same - shove it into the Triple Access for now.

Seeing it's a variable rate account, if rates doesn't increase, I assume I could just a move it into a newer, higher paying triple access account?  I also assume same can be done with Paragon's Triple Access ISA - easily move to a newer issue if they don't increase rates on existing?

EDIT - To be clear - is it easy to move between Access ISAs within the same bank.

If anyone has experience of Triple Access ISA account, I'd be grateful to hear your experiences.

intalex

I transferred from Maturity -> Triple Access during the opening process for the Triple Access, and then initiated a (partial) transfer from Triple Access -> Newcastle Fixed Rate which will utilise 1 of my 3 withdrawals. I will then have 2 withdrawals left to do as I feel with the remaining balance.

Although I haven't needed to do it, I'm sure I could seamlessly transfer both ways between my Maturity and Triple Access ISAs, without losing ISA wrapper status or allowances.

savit4l8er

intalex said:

I transferred from Maturity -> Triple Access during the opening process for the Triple Access, and then initiated a (partial) transfer from Triple Access -> Newcastle Fixed Rate which will utilise 1 of my 3 withdrawals. I will then have 2 withdrawals left to do as I feel with the remaining balance.

I considered the triple access or a Santander easy yesterday. Although I expected a partial transfer from the triple could be done, it's helpful to know it's been done. Thank you for mentioning it. 

Yorkshire_Pud

My NBS isa just matured, I hadn’t given them any instructions so now getting 0.3% from the building society that rewards its members.

Opened a Virgin Money 3.5% fix and pending transfer of Nationwide ISA  funds. Hopefully will be done this week otherwise I was tempted to ask nationwide to convert to triple access  ISA but don’t want to give anyone a chance to confuse the issue if new account number etc.

refluxer

Yorkshire_Pud said:

My NBS isa just matured, I hadn’t given them any instructions so now getting 0.3% from the building society that rewards its members.

Opened a Virgin Money 3.5% fix and pending transfer of Nationwide ISA  funds. Hopefully will be done this week otherwise I was tempted to ask nationwide to convert to triple access  ISA but don’t want to give anyone a chance to confuse the issue if new account number etc.

Yes, you'd get a new account number if you did that as you'd be opening a new ISA and transferring the balance of your maturity ISA into it. If you've already instigated the transfer to Virgin, then definitely leave it well alone !

Yorkshire_Pud

refluxer said:

Yorkshire_Pud said:

My NBS isa just matured, I hadn’t given them any instructions so now getting 0.3% from the building society that rewards its members.

Opened a Virgin Money 3.5% fix and pending transfer of Nationwide ISA  funds. Hopefully will be done this week otherwise I was tempted to ask nationwide to convert to triple access  ISA but don’t want to give anyone a chance to confuse the issue if new account number etc.

Yes, you'd get a new account number if you did that as you'd be opening a new ISA and transferring the balance of your maturity ISA into it. If you've already instigated the transfer to Virgin, then definitely leave it well alone !

👍 Reassured I did the right thing!

howryoo

For those who have, is there any point / benefit in keeping the Fixed Term ISA Maturity account open?

Although they may offer exclusive rates for their 1 - 2 year ISAs, I can't imagine they'll let you transfer back (from say their triple access) into the maturity account to avail of offers?

Also, although the triple access ISA states it's a '12 month fixed term', I assume it's just referring to the rate (1.50%) being fixed for that period before lowering at the end of the term?

refluxer

howryoo said:

For those who have, is there any point / benefit in keeping the Fixed Term ISA Maturity account open?

Although they may offer exclusive rates for their 1 - 2 year ISAs, I can't imagine they'll let you transfer back (from say their triple access) into the maturity account to avail of offers?

No, the Fixed Term Maturity ISA is worthless once you've transferred all your funds out. It'll get closed automatically when that happens anyway. Edit - looks like there may be a benefit to keeping it as a way of accessing further FRISAs that aren't widely available (see update post later in the thread)

howryoo said:

Also, although the triple access ISA states it's a '12 month fixed term', I assume it's just referring to the rate (1.50%) being fixed for that period before lowering at the end of the term?

The rate for that ISA is variable, so the 1 year term acts as a time-frame for the limited number of withdrawals allowed before the rate drops, plus it reverts to a standard easy access ISA after that time.