A question about : Anyone know how to convert an old Nationwide isa?
My sister has an old Nationwide web isa issue 4 sitting on a rate of 0.5%. She has asked me to try and convert it for her to the 1.25% instant isa saver. She doesn't want to fix it or move it out, just convert it in meantime.
I can honestly say I have never come across such a poor online site as Nationwide. I can't find anywhere to convert it. Even the instructions about transferring isas internally are as clear as mud. It seems to suggest you may have to open the new isa and then request isa tfr in ( even though its internal) However if you start to go through the application for the new isa it won't let you proceed without funding it with at least Ј1 - which I don't want to do!! Losing the will to live with Nationwide. Anyone had any dealings with an internal isa conversion? thanks
Best answers:
- Halifax for example allow you to " convert" your existing isa to another of their isas without the drawn out process of opening a new Halifax isa and then requesting an isa transfer. So you can "convert" an ISA - its not breaking any ISA regulations. Most banks/ building societies allow conversions - nationwide just seem to make it very difficult!!
- The HMRC Guidance Notes For ISA Managers don't mention anything about converting an ISA.
- how did you do it in the end?
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