Natwest £50 savings cashback loophole

Strapped

brookerbabyisababy wrote: »

Received my papers today. Two questions:-
1. Who does the cheque have to be made payable to?

From the T&C:

"22.7 If you pay some or all of your initial deposit by cheque, it must:
(a) be made out in sterling, drawn on an account held with a UK bank branch payable to us or to you; and..."

HTH.


I did wonder about the "UK bank branch" bit re. online current accounts but my A&L premier direct seems to have been OK (presumably it just means that a recognised UK sort code is required).

anthonycharles

I am new to this forum but have spoken to NatWest and they assure me that if you do not keep all deposited money in the account for the 12 months you will not get the £50.

YorkshireBoy

anthonycharles wrote: »

I am new to this forum but have spoken to NatWest and they assure me that if you do not keep all deposited money in the account for the 12 months you will not get the £50.

Welcome! You'll soon learn that T&C's govern accounts/offers...not the guesswork of ill-informed bank staff.

pinkfluffybabe

I've got my forms through to sign and return - it doesn't say anything in the paperwork about sending id through but it says on the return envelope to enclose the 'appropriate documents requested'. Do I send things at this stage or wait?

Thanks

Crabman

Their online application is only open at certain times of day... their servers must have discovered trade union membership

honeythief_2

Crabman wrote: »

Their online application is only open at certain times of day... their servers must have discovered trade union membership

*lol*

Just wanted to delurk to thank chris_langs and the MSE email for the heads-up. I applied for the e-saver account online on Wednesday and received the paperwork in this morning's post and popped it back in the mail at lunchtime, so, so far so good.

Reading through the thread and some of the recurring questions, I can confirm that:

1. You don't need to be an existing NatWest customer to open an e-saver account. (I wasn't and had my application accepted.)

2. Cheques should be made payable to yourself. (At least that's what the NW CSA told me when I phoned this morning to check.)

3. In some cases, you do need to provide proof of ID documents when you return your application form. (I was asked for proof of ID and proof of address docs. Possibly because, despite not moving house, my postcode changed last year.)

bristolleedsfan

pinkfluffybabe wrote: »

I've got my forms through to sign and return - it doesn't say anything in the paperwork about sending id through but it says on the return envelope to enclose the 'appropriate documents requested'. Do I send things at this stage or wait?

Thanks

Unless ID documents have been specifcally requested within the covering letter then dont include any.

Stephen_Leak

anthonycharles wrote: »

I am new to this forum but have spoken to NatWest and they assure me that if you do not keep all deposited money in the account for the 12 months you will not get the £50.

This would seem to open up the possibility of all sorts of "reductio ad absurdam" games with the call centre operatives.

CCO: "If you do not keep all deposited money in the account for the 12 months you will not get the £50."

MSE: "So it's a 'Term Deposit' account, then?"

CCO: "Yes."

MSE: "Then, why is it called an 'Instant Access' account?"

downs523

does anyone know how much interest/and equilivant rate i will earn if i leave the 100 quid in the account each month?

so interest earned over 12 months+ the 50 quid bonus= what interest rate???

YorkshireBoy

downs523 wrote: »

does anyone know how much interest/and equilivant rate i will earn if i leave the 100 quid in the account each month?

so interest earned over 12 months+ the 50 quid bonus= what interest rate???

Roughly (£100 x 12) x 4.3% / 12 x 6.5 = £27.95 gross (£22.36 net)