Nationwide ISA

undercoat11

Hi

Is anyone else having trouble opening a Nationwide ISA? I have been waiting now since 30 April to have money transferred into mine from 2 other Nationwide ISA accounts and I am getting pretty sick of it. I have sent 3 emails and nothing.

I am getting to the point of going to the Halifax, but I don't know if they would be any better. My 2 old ISAs have a lower interest rate and it smacks of trying not to pay me the 6.15%.

Milarky

An internal transfer should in theory take no time at all. You should complain at the delay in opening an account and ask for higher rate of interest backdated to the date of request - irrespective of when the account is eventually opened. Alternatively why not go for a 1 yr 6.5% fix at Yorkshire Building Society? (probably more efficiently handled if you can get into a branch as otherwise you have to phone for all the application and transfer paperwork and that does add to the time) see here:

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rates-isa.aspx

(As explained elsewhere, you get the fix rate offered to you for 30 days from applying. Should Nationwide then fail to complete within 30 days - and you maybe get a slightly lower rate offered by YBS instead (maybe not?) then you can complain to NW and ask for the difference you could have recieved had they pulled their fingers out.

If you want NW to now transfer elsewhere then you should contact them ASAP to issue frest instructions to stop the current internal transfer (Probably a signed note handed into a branch - copied and 'stamped' back to you - should cover you)

Sapphire

Good luck with complaining. I still have an incorrectly done transfer from Kent Reliance to Nationwide outstanding since 23 March, and another one where NS&I transferred ISAs to Nationwide on 12 May, but I have heard absolutely nothing from Nationwide. This is despite writing to the managers of several departments at Nationwide.

I cannot understand how a company can treat its customers this way - particularly when they have substantial sums of money in several of their accounts. Does it not matter to them if they lose customers? Is this some kind of a scam? It certainly makes me deeply suspicious. :mad:

john_s_2

NW are truly useless in the ISA department. I have no other experience of them. My ISA application from February is still not complete, despite numerous phonecalls.

There's various stories on this thread:

http://forums.moneysavingexpert.com/showthread.html?t=890189

Good luck!

undercoat11

Thank you for your replies - sorry I didn't reply before.

I intend to ring them tomorrow about this - it is so annoying because it would probably take me about 5 minutes to do it on line if I had the facility. It is totally unacceptable to take so long about an internal transfer.

I also have an ISA with N&I so I might look at the Yorkshire one for that, so thank you. I don't want to put all my eggs in one basket, so to speak, particularly with things as they are at the moment.

undercoat11

Ooooh I am getting more and more annoyed with that damn bank!!!! I have just rung them - the first time a giggling girl in the call centre put the phone down on me and the second time they said that I would have to wait 8 weeks and then put me through to a line that said they valued my call and cut me off again!

I have banked with the NW in its various incarnation for about 25 years or so and I am turnign into Mrs Angry about this.

Thank you for listening to my rant!

Speculator

My mothers internal transfer (Former portman ISA to 6.15% Fixed Rate ISA) has taken 11 weeks so far. They are as bad as Abbey National.

Phoning them is useless, you will be passed from department to department and eventually they will cut you off. BTW, you may want to consider using their freephone no. 0800 30 20 10.

libra10

My OH and I are both are transferring a Nationwide Tessa and ISA, amalgamating both into Nationwide fixed rate ISA. The forms were taken into the local branch during mid April. My OH's transaction was fully completed about 3/4 weeks ago, but I'm still waiting for mine. My Tessa and ISA have both been closed and I have been advised that I will be issued with a new certificate within a couple of weeks.

When this failed to materialise, after several frustrating calls to the call centre, I asked my local branch to help. They phoned me back the next day (great service) and advised that even though extra staff have been taken on, there is still a massive backlog.

It is going to take at least 8 weeks (or longer) before the new ISA is fully completed.

I think the reputation of Nationwide is going to diminish greatly while they are allowing this mismanagement to continue.

paparossco

I handed in forms to open a NW ISA bond on 8th March with this years allocation and to transfer two previous years from NS&I into it. NS&I transferred the money on the 1st May (within the 30 day limit) but this years money is still sitting in my Flex Account. I had moved it there from a higher savings account expecting this to be done in a few days....silly me :-)

After waiting eight weeks, two emails and several attempted phonecalls later I raised a formal complaint with NW via their internet banking email system. My complaint was not the fact that the bond was not opened but that their communication was non existant and questions I asked via email still were not answered.

I've had a holding letter and promise of a reply by the 16th June while they investigate.

david78

I went into my branch on 6 May to consolidate three Nationwide ISAs into a single 6.15% Fixed rate account. Just over 1 month later they have issued me my certificate with opening date 6 May (so no loss of interest).

I was a bit worried about the time it was taking so I did make one phone call to chase it up last week -- they were able to confirm the date of opening, opening balance, and interest rate, but had not completed the formalities to actually open the account at that time.

Stavros_3

start of April, I opened the NW fixed rate ISA, transferred my older one from the B & B, still to date no transfer has taken place