B & B's damn 90 day penalty clause

Stavros_3

As stated previously I am opening a Nationwide ISA in a weeks time. My previous Isa is with the B & B fixed rate which won't mature until the 25th April !!. Have spoken to the branch and they stated that if I transfer it to the N.W before that date I lose 90 days interest , !!!!!! that will teach me to read the T & C's more closely in future

bristolleedsfan

Stavros wrote: »

As stated previously I am opening a Nationwide ISA in a weeks time. My previous Isa is with the B & B fixed rate which won't mature until the 25th April !!. Have spoken to the branch and they stated that if I transfer it to the N.W before that date I lose 90 days interest , !!!!!! that will teach me to read the T & C's more closely in future

Thats the disadvantage with holding funds in Fixed Rate ISAs, people have to make a decision as to what to do when the fixed period ends around a month or so beforehand or risk being on a lower rate of interest during the transfer out period.

From your point of view it is tricky for u to give instructions to transfer it to Nationwide on 25th April as u dont know what rate Nationwide will be offering at that time.