Natwest £50 savings cashback loophole

TehJumpingJawa

The initial deposit to open the account doesn't play any part in the offer, does it? so it can be opened with as little as £1.00?

bristolleedsfan

TehJumpingJawa wrote: »

The initial deposit to open the account doesn't play any part in the offer, does it? so it can be opened with as little as £1.00?

Correct. :T

YorkshireBoy

zebedy wrote: »

I've applied for e-saver requesting the £100 regular payment to come from my external current account on the 27th of each month (just after payday).

If faster Payments are not in place for standing orders by next February, there's every chance you won't make a deposit in February next year (27th February payment won't arrive until March). This could mean all your hard work will be fruitless!

What date would you recommend is the earliest I should transfer it back from e-saver to my current account each month

I'd be leaving it in at least overnight so it 'registers' on your closing balance.

(hope to do it by a S/O from e-saver to external current account if possible)?

It isn't possible to make SO's from this account. May I respectfully suggest you read the account T&C's before committing to the offer.

billieboy_2

brookerbabyisababy wrote: »

Received my papers today. Two questions:-
1. Who does the cheque have to be made payable to?
2. I read on the second page they said that they may use credit searching agencies. Does this mean they will credit search me and will it affect future credit?

Can't answer your second question but I made the cheque payable to NatWest PLC and it cleared and is in my account. Just waiting for the SO to be taken now.

YorkshireBoy

brookerbabyisababy wrote: »

...will it affect future credit?

The short answer is no.

The longer answer is that savings accounts are not credit facilities, therefore the search made will be of an ID enquiry type only. These are classed as unrecorded enquiries and, as such, will not be seen by other lenders when searching your file.

stphnstevey

Not bad - get £100 out of Alliance and Leicester plus £50 Quidco

nixie1

brookerbabyisababy wrote: »

Received my papers today. Two questions:-
1. Who does the cheque have to be made payable to?
2. I read on the second page they said that they may use credit searching agencies. Does this mean they will credit search me and will it affect future credit?

1. I guess the best thing to do would be to call Natwest and ask them. Do they not put a contact number on the paperwork?
2. If they say they may use credit searching agencies, then I guess the answer is that they may credit search you ... or they may not.

LongTermLurker

bristolleedsfan wrote: »

I would like to join the chorus of thanks to both the O/P and the MSE forum team for bringing this promotion to our attention. :T :T :T :T :T

Thanks BLF for providing some great answers, and to the OP and Martin, for bringing this promotion to our attention . There are more freebies going around at the moment - anyone seen the Co-Operative thread?

bristolleedsfan

stphnstevey wrote: »

Not bad - get £100 out of Alliance and Leicester plus £50 Quidco

Or 50.00 from CashbackKings or GetPoundsBack amongst other similar cashback sites as some people have lost faith in quidco.

large_satsuma

Call me thick, but the explanation at the top of this thread confuses me.

It says that if you put £100 in the account each month and left if there, you’d make £30 more than in the best savings account. But it ALSO says that leaving the money in for the entire year would lose you over £13 interest compared with the top current account.

Current account?? I assume this should read "currently available savings account"! But that hardly makes any more sense (to me).