Natwest £50 savings cashback loophole

YorkshireBoy

downs523 wrote: »

...still be better off than in a top paying account

Your plan will return £72
Not bothering (and sticking it in a 6.5% account) will return £34
Transferring out each month will return £84

All figures net of tax, and ignore transit losses (minimal with future FP's?).

So, that's £12 extra for making 12 withdrawals a year. Or, to put it another way, every time you log on to make the monthly transfer out they pay you a pound for doing so.

A reminder of the site's name...moneysavingexpert.

bristolleedsfan

YorkshireBoy wrote: »

Your plan will return £72
Not bothering (and sticking it in a 6.5% account) will return £34
Transferring out each month will return £84

All figures net of tax, and ignore transit losses (minimal with future FP's?).

So, that's £12 extra for making 12 withdrawals a year. Or, to put it another way, every time you log on to make the monthly transfer out they pay you a pound for doing so.

A reminder of the site's name...moneysavingexpert.

Big question is, Can non NatWest customers move funds out of the E-Saver every month without having to incur call charges as atm its unclear if we can move funds out online. :huh:

neil9313

bristolleedsfan wrote: »

Big question is, Can non NatWest customers move funds out of the E-Saver every month without having to incur call charges as atm its unclear if we can move funds out online. :huh:

#



The clue is in the name, E savings

YorkshireBoy

bristolleedsfan wrote: »

Big question is, Can non NatWest customers move funds out of the E-Saver every month without having to incur call charges as atm its unclear if we can move funds out online. :huh:

When you say "unclear", is that because you haven't got your log in details yet?

The account/deal has been around for a month now...surely someone has gone 'all the way' by now?

bristolleedsfan

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.

To, Yorkshire Boy, this is what i was referring to. ( Ill ignore the earlier poster, post 226 :mad: , what he think i am, a muppet. :huh: )

There seems to be a problem for non NatWest customers trying to set up a new payee, I get same message although my standing order hasnt been set up either yet despite me having sent in the forms around 22th July. ( 1.00 deposit sent with SO form is credited)

downs523

has anyone called the number i posted above yet to find out if withdrawals are allowed?

bristolleedsfan

downs523 wrote: »

has anyone called the number i posted above yet to find out if withdrawals are allowed?

What u think this is the joke forum?

LongTermLurker

downs523 wrote: »

has anyone called the number i posted above yet to find out if withdrawals are allowed?

I was just going to ask the same question (as in call to set up the payee, not to check if withdrawals are allowed - I think the general opinion is that the Ts & Cs make that a given) - it's quite possible they want you to set up the first payee over the phone. Once you have a payee set up, you should be able to make payments to it online. I'd phone them but am waiting for my deposit to go in first.

YorkshireBoy

downs523 wrote: »

has anyone called the number i posted above yet to find out if withdrawals are allowed?

The problem is that it's Sunday afternoon...skeleton staff and all that. What if we get the same ill-informed CSA that you got. Proves nothing does it.

I've sent them the following question using their 'feedback form' (for your benefit )...

Hello,

I'm interested in your E-Savings account...and obviously the £50 cashback offer.

I'm not currently a NatWest customer but I'm looking for a savings account for regular savings each month from salary. However, there may be times when I need to make a withdrawal from the E-Savings account.

Please could you tell me if making a withdrawal from the E-Savings account will mean I forfeit the £50 cashback award next year.

Kind regards.
xxxxx xxxxxx

downs523

bristolleedsfan wrote: »

What u think this is the joke forum?

what do u mean?