ISA interest query

Belfast_tech · 6 May 2012 at 21:05

I'm trying to find the answer to this on the Nationwide site etc, but to no success as yet! I'm hoping someone here will be able to advise me.

I've got an ISA with the Nationwide which pays interest on the 31st August each year. I wish to transfer my ISA from the Issue 3 to the new Issue 4 rate.

I am concerned about losing the interest I'm owed from August 2011 - which was the last payment made, until now.

Has anyone else been in a similar situation & can confirm / deny that I would lose the interest, pro-rata as it were?

Thanks!

Mercenary Keyboard Warrior · 6 May 2012 at 21:20

No you wont lose the interest unless its a fixed rate which may have that penalty.

Is it an instant access ISA?

Mercenary Keyboard Warrior · 6 May 2012 at 21:21

Just checked and its an instant access so should be fine to transfer.

BinnsY · 6 May 2012 at 22:18

I recently did something similiar and moved from issue 1 to issue 3. The interest I was owed from being part way through the year was paid as part of the transfer process.

Belfast_tech · 6 May 2012 at 22:47

Thanks guys - gotta get that application in now!