Definitely worth a look (Nationwide Building Society ISA)

Member Name: Alternum

Product:	Nationwide Building Society ISA
Date:	05/08/00 (221 review reads)
Rating:

Advantages: Instant access, higher interest rates due to mutuality

Disadvantages: Instant access facility means interest rate is slightly lower

I've had an instant access cash ISA from the Nationwide for about 18 months now, and so far I've no complaints at all. The interest rate, although not the best you can get, is fairly competitive, and in lieu of this you do get the instant access facility which is reassuring - if you need to you can get to your money in a hurry.

Being a building society means that, usually, the interest rates offered on the various accounts will be slightly higher than for similar products offered by banks, due to not having any shareholders to please. Check for yourself whether this is, in fact the case - rates can change daily of course.

If you do sign up then you will be required to sign a form which waives your rights to any benefits that might come if the society converted into a bank, and assigns them instead to a charitable foundation set up by the society. This is intended to stave off the advances of carpetbaggers, and may put some people off - but in my opinion, the benefits of mutuality in terms of the higher interest rates are worth keeping in the long run.

All in all this is a professionally run instant access ISA which offers good rates of interest. If you are looking to buy an ISA, I would definitely consider this one.

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