Nationwide Flexclusive ISA

A question about : Nationwide Flexclusive ISA

See https://www.nationwide.co.uk/mediacen...le.htm?ID=1945

So, it's an instant access ISA paying 4.25% AER on balances from Ј1.

Branch-based only, and doesn't accept transfers in. The bonus element of the rate will last until October 2013.

Need to be a 'main' Flexaccount holder (i.e. pay in Ј750 per month or transfer SOs and DDs to Nationwide).

I still struggle to believe that it's not just a typo and that they really mean 4.25%

Best answers:

• I wonder if the competition will react to this before the new tax year and I suspect their branches are going to be busy on Saturday.
• A win-win situation.
  Customers earning a good rate.
  Nationwide get more customers for a lot less than Ј100 given by other Banks.
  F4
• I was in branch today and was told about this account. Will be opening one next week in branch. Will the account be visibile via online banking.
• Looks a fantastic account. It will be interesting to see how competitors react to this? Next week could be interesting.
  Sadly, it doesn't help me though with 2012/2013s allowance all ready to go and wanting to maximise my interest from day one, yet hold zero current account with them. I don't want to lose out on 3 months worth of interest just to qualify.
• The only way it wouldn't be worth it over the AA's 3.5% ISA is if it takes more than two months to transfer the current account over, which is unlikely. Plus, the interest rate bonus lasts for more than a year and in theory you can get 4.25% on the 2013-14 tax year's deposit too.
  The only down-side is the branch-only access. What kind of crap is that? I mean, I don't really intend to take money out before the bonus rate drops but it's just so inconvenient.
  I hope this makes some other banks offer more competitive ISAs that have online access.
• i thought the end date is 5th April to put money in an ISA? Sorry if i'm wrong. i'm a bit of a newbie when it comes to ISA.
• Yes looks like a good deal but note the conditions about having been paying in 750 pcm for at least 3 months,or transferring an account in. That means a delay of at least 3 months before you can get the 4.25% if the former, rather less if the latter
  Quote
  To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:
• Pay in Ј750 or more each month (excluding internal transfers) for the last 3 months, or:
• Agree to complete an Account Transfer from an account (non Nationwide) using our Account Transfer Service or have done so in the past four months.

To continue to be eligible for Flexclusive ISA, customers must meet all of the criteria above, as well as continuing to deposit at least Ј750 or more each month into the FlexAccount.

• It says you need to have been paying in Ј750 per month for at least 3 months OR transfer your account, including DDs and SOs.
  If I've read it correctly you won't be able to keep the ISA unless you continue to pay in Ј750 month.
  Denise
• I certainly won't be transferring my main account to NW , whose online systems are Jurassic (last time i looked), but happy to set up a 750 Standing order in monthly , with a 750 SO back out a day later. ...