Nationwide three year fix NO access even with penalty HELP

Psycholady6666

I opened a 30k three year fix with Nationwide at 2.5 % last July. I have tried to close it since  and willing to pay any penalty - they tell me I cannot close and access my money even with a penalty - those are the terms and conditions. I've been a member for over 30 years and I think this is unreasonable. I have complained to  no avail. Is there  anything I can do?? thanks

RobfromCornwall

No.  If those are the terms, then those are the terms.  

wiseonesomeofthetime

Afraid not.

It will have been made clear in the terms and conditions that you signed up to that there would be no access for the duration of the product.

Some allow access under exceptional circumstances, alas they can decide for themselves what they deem exceptional.

Only fixed term ISA allow for penalty closure to my knowledge.

Chop-D

No, unless it’s an ISA

grumbler

MSE:

With fixed savings you can't usually withdraw your money until the end of the term, but in return the interest rate is guaranteed. So only lock away what you definitely won't need access to.
If you want a fix that you can access money from, consider a cash ISA, which by law must allow you to do this (though usually for a fee).

Top fixed-term savings

Malchester

Terms and conditions are clear- no access allowed before the end of the term unless there are exceptional circumstances but wanting a better rate isn't an exceptional circumstance. This is one of the things about fixed rate accounts ‐- you take your chanc. Sometimes it pays off and you find you have a good rate towards the end of the term compared to the general rate at the time.  Other times it's the opposite.  I've had both over the years.

ColdIron

You asked the same question a couple of months ago (with much the same responses as here) and didn't return to the thread

https://forums.moneysavingexpert.com/discussion/6448545/help-cannot-access-nationwide-fixed-term-bond

sheslookinhot

be thankful for what you have.

Albermarle

wiseonesomeofthetime said:

Afraid not.

It will have been made clear in the terms and conditions that you signed up to that there would be no access for the duration of the product.

Some allow access under exceptional circumstances, alas they can decide for themselves what they deem exceptional.

Only fixed term ISA allow for penalty closure to my knowledge.

There are a couple of non ISA fixed term savings accounts that do allow access with a penalty.
 First Direct ( £100 but they only offer one year accounts) and Halifax ( similar penalties to ISA's)

tunde10

This is why i dont believe in fixes longer than a year for a significant sum. I'ts not just the interest rate changes, cash can be needed for other reasons out of the blue.

All my longer terms fixes are in ISA's where i'm more than happy to pay the penalty if there is access to the money.

martinm1

You signed up for the conditions of no access so why ask??