Welcome!

News Feed Item

Nationwide Puts the ISA in NISA as it Urges UK to Maximise Contributions After Winning Parity Campaign

Consumer champion heralds start of new savings era after successful campaign to raise and equalise annual ISA contributions across cash and stocks & shares

LONDON, UNITED KINGDOM -- (Marketwired) -- 06/27/14 -- Nationwide is urging customers to make the most of higher annual ISA allowances after having successfully campaigned to raise and equalise the limits for cash and stocks & shares options.

The Society's Chief Executive, Graham Beale, today called on ISA customers to capitalise on the rules, as from 1 July anyone with a cash ISA will be able to nearly treble their annual contributions from GBP 5,940 to a new higher limit of GBP 15,000. It will be the first time they will be able to match those investing in stocks & shares ISAs, which currently benefit from the full annual ISA allowance.

Nationwide Chief Executive, Graham Beale, said: "The ISA changes are a true victory for savers - for the first time cash and stocks & shares ISAs will be equal. We were naturally delighted that the Chancellor has brought in these positive changes and now it is a great opportunity for customers to make the most of the new higher limits and flexibility. It's worth remembering that every pound invested into an ISA is a pound that is tax-efficient. It is a case of using the new allowance or missing out on the benefits it will bring."

The changes, which see the total ISA limit raised from GBP 11,880 to GBP 15,000, will give savers greater choice and flexibility on how they choose to use their ISA, enabling them to either invest the full allowance in either cash or stocks & shares, or choose exactly how they want to split their investments between the two options.

Customers with money already invested in stocks & shares ISAs will for the first time be able to transfer all or part of their investment to a cash ISA as part of the shake-up. This will benefit those savers who want the security of a cash savings account but who would have previously been penalised by losing their tax-efficient shelter. Nationwide ISA products that will accept transfers from either cash or stocks and shares ISAs include the market-leading Instant ISA saver - with an interest rate of 1.5% - and Fixed Rate ISAs of up to five years, offering interest rates ranging from 1.5% (1 year) to 2.5% (5 years).

In addition to the new changes, the 2014/2015 limit for savings in a child Junior ISA will also increase on 1 July - from GBP 3,840 to GBP 4,000.

Nationwide is the only main high street financial services provider that will allow customers to open multiple cash ISA products as part of their saver wrapper - meaning that its customers can take advantage of different interest rates and maturity periods.

Notes to Editors:

The new ISA rules will bring about a number of changes:

ISA rule changes:


--  From 1 July 2014, the annual tax-free allowance for adults increases
    from GBP 11,880 to a maximum of GBP 15,000 and can be split between cash
    and Stocks & Shares ISAs in any way
--  The amount able to be put into a cash ISA will for the first time match
    that of Stocks & Shares ISAs (rising from GBP 5,490 to GBP 15,000)
--  The 2014/2015 limit for savings in a child Junior cash ISA is also
    increasing from GBP 3,840 to GBP 4,000 on 1 July

Nationwide Cash ISAs:


--  All variable ISAs, and Fixed Rate ISAs opened post 1 July will accept
    new subscriptions (up to GBP 15,000 a year) and transfers from Stocks &
    Shares ISAs (subject to terms and conditions)
--  Savers who opened or reinvested and subscribed to a Fixed Rate ISA
    between 6 April and 30 June 2014 will be able to top-up their Fixed Rate
    ISA with new subscriptions in July 2014. Nationwide customers can
    utilise the rest of their allowance in a separate ISA product, as part
    of their ISA wrapper, at any time in the year

Nationwide ISA products include:

- Cash: Champion ISA, Fixed Rate ISAs of 1-5 years, the Flexclusive ISA (for eligible customers), Instant ISA Saver, Save to Buy ISA, Regular Saver ISA and for children under 18; the Smart Junior ISA. More information can be found here

- Stocks & Shares: Nationwide offers a variety of investment options and a carefully selected range of funds, which are provided through Legal & General. For advice about stocks & shares ISAs, please talk to a Nationwide Financial Planning Manager. Alternatively savers can invest in a Stocks & Shares ISA online via www.nationwide.co.uk - giving savers even more choice and flexibility on how they save

About Nationwide Building Society

Nationwide is the world's largest building society as well as one of the UK's largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 17,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Find recent press releases and photos at the Nationwide Media Centre: www.nationwide.co.uk/mediacentre

Twitter: @NationwidePress

YouTube: http://www.youtube.com/user/NationwideBSocietyUK

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.