Cash isa reinvestment

Kellykitten

I arranged online with nationwide to reinvest my fixed rate isa which has matured today to go into another fixed rate isa with them, I have woken this morning and the funds are in a maturity account. I expected it to automatically transfer straight into the fixed rate account. Does it take time or have I done it wrong?

Flugelhorn

I would have assumed it would move straight away - my RBS one did 

Kellykitten

At the moment their fixed rate cash isa isn't even showing on their app, only variable. I know the app was down last night for maintenance but I would've thought internal transfers were still available. I searched on google and it's showing it but the rate has dropped from I applied for renewal.

wmb194

It is Sunday. See how it looks tomorrow.

Kellykitten

Hopefully it does. Thank you

Albermarle

 but the rate has dropped from I applied for renewal.

Normally you should still get the rate when you applied ( as long as it was in the usual 2 or 3 week timeframe before the old ISA matured) but you would need to check the small print to be sure. 

savit4l8er

If you find my thread on NW, I added that they told me you will get the rate you were offered as long as you instruct them before your maturity date so you should get the 4.5.
That's what they told me by telephone when I queried the drop ton 4.2%. You don't need to find it now, I have told you here  ☺️

Kellykitten

Yeh they were instructed before the maturity date so hopefully tomorrow it'll go through. Thanks

Bigsquid60

I have the same situation, it matured on the 22nd, applied online to reinvest in 6th September but still showing as matured.

Kellykitten

Bigsquid60 said:

I have the same situation, it matured on the 22nd, applied online to reinvest in 6th September but still showing as matured.

I rang them today and they found the application but it hasn't been processed yet but I will get the original interest rate quoted. Hopefully yours is the same.

Bigsquid60

I spoke to support on the phone at lunchtime today and as we spoke the application was processed in the background with the 4.5% rate.