Isa Rates

[237SJ]

Has anyone else been stitched up by the Nationwide takeover of their building society? I had a really good ISA rate with the Cheshire (2.3%) with a bonus which ends in November. Every year when the bonus ended, they would move me to their latest ISA with a comparable rate. Now that Nationwide have got my account, I`m going to be on 0.5% from November. I can take one of their ISAs but they`re rubbish so I`m going to have to move building societies again and I won`t be able to pay any more money in this ISA year. If I was a man, they would have got me by the goolies.

[ladybirder]

I've got 1.75% on a Nationwide ISA,

[SlackAlice]

I was with Cheshire B/S ISA which was switched to Nationwide as well. However my Cheshire ISA rate was going to be reduced at the end of October as per normal. The change to the ISA meant I kept the rate to the end of November, so I effectively got an extra month.

I shall as always review and change NISA's at the end of November to get a better rate.

When was your Cheshire B/S ISA rate valid to?

[237SJ]

The bonus ends in November. I have been with the Cheshire for a while and when the bonus ended last time, they moved me to a similar account. Santander used to do that as well but they were so bad to deal with that I vowed I would never go near them again. That`s why I switched to the Cheshire. I have just spoken to Nationwide and they said I could take one of their ISAs but they are not very good. There are a few fixed rates which I don`t want and the one I looked at is for a one off lump sum which is a lot less than the ISA allowance. I will be moving for sure. Probably to a Sainsburys ISA which doesn`t have a bonus and takes previous year`s ISAs (although I won`t be able to pay anything in because you can`t pay into 2 ISAs in one year)

[Old_Geezer]

Don't all these 'come hither' accounts get sidelined with even more garbage rates after a bit ?

[237SJ]

Yes OG. That is why I`m going to probably go to the Sainsbury`s ISA as it doesn`t have a bonus. Bonus rates didn`t even exist 10 years ago but I think the banks make a lot of money out of people who forget or can`t be bothered to change accounts when their interest drops from 2% to peanuts.

[dasherman]

"(although I won`t be able to pay anything in because you can`t pay into 2 ISAs in one year)"

If you're transferring an ISA/NISA you can still pay into it with your new provider because it still counts as one account.