online banking help please

  march 11:45 05 Feb 10
Locked

I have accounts with Nationwide & have been online to see if I can transfer money from my e-savings account to my cash isa account as I want to move all of the e-savings so I have instant cash available for when I need it but cannot see the option to do so does anyone know if I would be able to do this please

also had a letter from them today telling me how much I can pay into my isa before the end of the tax year that says

‘the tax year ends during the easter bank holiday weekend so you need to act early to ensure you don’t miss out’

does this apply to online banking as well? or will I be able to transfer money online on the 5th april and still qualify?

please be understanding as all this is new to me my late husband set up all accounts & use to do all transfers etc & as this is the first time I am attempting online transfers it’s a bit scary

  ame 12:21 05 Feb 10

I don't use Nationwide but a cash ISA account is normally an account for savings you don't take out unless it's an "emergency." Some cash ISA's are operable online but some aren't - even if it shows up in your accounts online. You might be better opening another savings account online that gives better access to cash than your e-saver. You can transfer cash to your ISA online up to the deadline but perhaps do it by 4th April. Remember that any stocks and shares ISA you've invested in this year also counts towards your total ISA annual allowance.
P.S. I trust you have decent up-to-date antivirus and antispyware on you pc.

  Kevscar1 12:25 05 Feb 10

With Loydstsb there is an option down the side TransferPayments when you go to your statement.
if they are telling you it must be done early and they don't say except online then you must do it by the date they say.

  wjrt 12:32 05 Feb 10

transfer from e.saver can only be to flexaccount (i.e. current account) then to cash isa . as you state that they have informed you how much you can pay in by april 5th then thats all you can put in the cash isa but why wait when the interest rate seems better on the isa . then if you are able to on or after 6th april you can transfer up to £5100 into the cash isa.

  march 12:44 05 Feb 10

thankyou for your fast responses

ame
yes I have up to date anti-virus and spyware

Kevscar
I understand that I have up to the 5th April to do it online then?

wjrt
if I move it to the flexaccount can I instantly move it to my isa do you know please?

& just a thought would I be able to move online some the e-savings to a another account with a different bank then I would be able to leave some money in the nationwide e-savings account?

thank you for your help so far

march
x

  wjrt 13:04 05 Feb 10

you should be able to do the transfer to isa from flexaccount straight away. for transfer to another bank you should be able to do this though from using different internet banking systems an association with the other bank account must be made.
click here
maybe a phone call to nationwide will clarify completely

  march 13:18 05 Feb 10

wjrt

thank you will take your advice & go to nationwide later today & ask how & what I will be able to do online for transfers to isa and also to another bank

everything at the moment seems very daunting & I can get myself confused. I just know that I have to move some money to another account where I will have instant cash access & the e-savings is where most of my money is

thank you so far everyone I will post back later when I have been to natonwide

march x

  oresome 13:30 05 Feb 10

Remember with an ISA account that you can only invest up to the annual allowance once per year.

Say you invest the full annual allowance and then take out £600 to pay a bill. You can't then put further money into the account until the following tax year.

  Clapton is God 13:55 05 Feb 10

Also be aware that, if you're aged 50+, the annual limit into an ISA went up to £5,100 from last October.

However, that limit also increases to £5,100 for everybody (irrespective of age) from 6 April this year (i.e. the new tax year).

  anniesboy 14:38 05 Feb 10

I would suggest you take a careful look at their interest rates.
Their Cash ISA pays between .25% and .5%
E saver is .36% net currently.
Your best bet is likely to be a bond ,but you cant touch that during its term.
Im sure if enquire at the branch they will advise what's best for you.

  folsom 15:05 05 Feb 10

As advised above, go to your local Nationwide branch and explain what you want to do, I have found the staff very helpful and they will clearly advise you of all the options available.

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