Natwest £50 savings cashback loophole

dupuytren

Hi all
My e-savings account just opened today too, and I opened it with only £1.00 as suggested by others. However when I selected online to View Standing Order, it says the frequency of this SO is YEARLY, not monthly, although the amount was correct which is £100 and the first payment is on the 10th Aug (I specified it to be 1st of the month but I guess my application arrived late). Anyone of you saw something similar? I tried amending it online but it didnt let me...
Just wanna check with you guys before I call them and have to wait for ages on the phone..
This is so annoying as I thought in the SO mandate application form it was already set as monthly (in fact all I had to do was to sign it!) grrr :mad:

TehJumpingJawa

My account appeared instantly.... but the SO (that I setup during the initial application for the account) does not appear in my active SO's =/

Also, I specified an initial balance of £1.00 to be taken from my current account.... this didn't happen either - the account is empty

juliep_2

I got the message above when I tried to apply for an e-saver account online. What a surprise after this going out on the weekly bulletin. I'm so :mad: I missed the opportunity!
jules

dupuytren

i think it says service temporarily unavailable if it is out of office hours, try again after 9am (something similar happened to me before).

anyway do you reckon i could just set up another monthly SO of £100 online into the e-savings account and cancel the one i did on paper? it would then save me from calling them and spending lots of money. not like i ever get any break at work to call them up anyway..

simpleguy_blr

I realised that the SO has not been setup as my Bank wrote to me for further instructions, hence I have gone ahead and created a new SO using the A/c number and sort code provided on the Natwest Online Account for my e-Saver. This will happen on the 10th, and I am hoping that this should go through.

funkyhitman

TehJumpingJawa wrote: »

Transfering from my Natwest current account, into the e-saver & back again seemed to work fine using the 'quick transfers' thing.
Not tried transfering it to another bank though...

I must say Natwests online system fails big time from a user interface point of view...

I now have an e-saver & a first reserve. Both have the same name (e.g. "SURNAME AB"), so when they appear in the 'quick transfers' drop-down list box, there is no way to distinguish the 2 :T

You can rename the account to something more distinguishable such as 'Your Name E-Saver'.

SiuLoong

TehJumpingJawa wrote: »

Transfering from my Natwest current account, into the e-saver & back again seemed to work fine using the 'quick transfers' thing.
Not tried transfering it to another bank though...

I must say Natwests online system fails big time from a user interface point of view...

I now have an e-saver & a first reserve. Both have the same name (e.g. "SURNAME AB"), so when they appear in the 'quick transfers' drop-down list box, there is no way to distinguish the 2 :T

Beaten to it.. but anyway - very easy to rename accounts to whatever you like, solving the problem.. have to say Natwest's is one of my preferred user interfaces (and I've had/have accounts most places!!).

goodquestion

Crabman wrote: »

Not if you're planning to move money out of your ISA account. If you do, you'll lose the tax benefit on the ISA cash (remember you can only deposit £3,600 into a cash ISA each year). Read the ISA Guide for full info and better explanation

Well it'll just be money the £100 Id otherwise be putting into the esavings account rather than the ISA. Im assuming Id be better off using the esavings account?

LongTermLurker

rail.link wrote: »

Anybody tried making a withdrawal ?

Can't seem to do it online; tried setting up a new payee and it says to call telephone banking.
I'm guessing you need a card reader to set up and pay online.

You wouldn't need a card reader because you don't get a card

They may have decided to restrict online withdrawals though to make it less easy for people to slide the money about - if so, their telephone staff will be pretty busy over the next year

rail.link

LongTermLurker wrote: »

You wouldn't need a card reader because you don't get a card

I know that.

Just wondering if all withdrawals have to be by phone if you have a non-card account with them ?
For some institutions, eg. Nationwide, every payment requires use of the card reader, is this the same with Natwest ?