Natwest £50 savings cashback loophole

bristolleedsfan

chinbergs wrote: »

Why does the Original Post say e-savings account for Natwest customers and Savings Direct for non-Natwest customers?

As far as I can see, the e-savings account is open to anyone?

You are correct. :T

chinbergs

bristolleedsfan wrote: »

You are correct. :T

Thanks - wanted to make sure I wasn't going to lose out on the offer by applying for the e-savings while being a non-Natwest customer. The original post confused me.

MSE_Martin

Just a clarification on the e-saver, while it seems open to everyone, based on info posted here we checked with NatWest, and the official answer is its only for existing NW customers.

bristolleedsfan

MSE_Martin wrote: »

Just a clarification on the e-saver, while it seems open to everyone, based on info posted here we checked with NatWest, and the official answer is its only for existing NW customers.

http://www.natwest.com/personal/save-and-invest/savings/g1/instant-access/e-savings/apply.ashx

"Can you open this account?

You need to be aged 18 or over and permanently resident in the UK for tax purposes."

First question on apply page is " Are you a existing NatWest customer" Answering no does not not bar someone from applying nor does it bar someone from having the application approved.

pinzo78

Hi all,
I have an e-saver account with Natwest for over a year now and set up a standing order for £100 to go into this account every month when I opened the account, its still active to this day.
Does this mean that because I already have the account set up to qualify for the £50 cashback, will I get it without doing anything or should I ring them to clarify?? I'd hate to miss out on free money!!
I tried to ring earlier on but it was out of business hours! I guess the offer is still available because its still showing on their website.

Thanks
Pinz

bristolleedsfan

pinzo78 wrote: »

Hi all,
I have an e-saver account with Natwest for over a year now and set up a standing order for £100 to go into this account every month when I opened the account, its still active to this day.
Does this mean that because I already have the account set up to qualify for the £50 cashback, will I get it without doing anything or should I ring them to clarify?? I'd hate to miss out on free money!!
I tried to ring earlier on but it was out of business hours! I guess the offer is still available because its still showing on their website.

Thanks
Pinz

http://www.natwest.com/personal/save-and-invest/savings/g1/instant-access/e-savings.ashx#tabs=section2


" Not available on NatWest savings accounts that have existing standing orders in place as at 4 July 2008. "

chinbergs

MSE_Martin wrote: »

Just a clarification on the e-saver, while it seems open to everyone, based on info posted here we checked with NatWest, and the official answer is its only for existing NW customers.

Hmmm.. I called Natwest today and they said anyone could open an Esavings account. I got through the application process for an Esavings account (as a non-natwest customer) ok....

Now more confused. :rolleyes:

bristolleedsfan

chinbergs wrote: »

Hmmm.. I called Natwest today and they said anyone could open an Esavings account. I got through the application process for an Esavings account (as a non-natwest customer) ok....

Now more confused. :rolleyes:

Just seems that the MSE team cant bear the thought of being seen to be ever incorrect or mistaken.


http://forums.moneysavingexpert.com/showthread.html?t=304878


“Although I believe this is an amazing forum with a huge wealth of information of benefit to many people, and most people are keen to help others, sometimes messages are posted that are poorly researched, ill-conceived, downright wrong or sadly even worse, misleading and deceptive”

pinzo78

bristolleedsfan wrote: »

http://www.natwest.com/personal/save-and-invest/savings/g1/instant-access/e-savings.ashx#tabs=section2


" Not available on NatWest savings accounts that have existing standing orders in place as at 4 July 2008. "

Thank you very much for the info.

Anon

baby_boomer wrote: »

Thanks for that, blf.

As you know doubt know, young Saver is for under 11s.

Unfortunately for 11-17s NatWest would appear to have the worst young person's savings account in the country - "Adapt". I think it comes with a debit card, but otherwise the interest is even worse than such stalwarts as the Hinckley & Rugby BS's ludicrously named "Flying Start" account :eek:

Young Saver is available 11-17s in their own right, or set up by a trustee for under 10s (according to http://www.natwest.com/personal/save-and-invest/savings/g4/children/young-saver.ashx) . If that is the case, would you be able to set up an account for each child as well as one for myself and get £50 each time, or would this break the one per person rule (not sure how trustee would be covered?). And would the £50 incentive to a child break the £100 limit on interest before it gets taxed at the parents rate (I know, not interest, but would the tax office see it that way). Thinking this is an excellent bonus for the kids.

Many thanks

Anon