Natwest £50 savings cashback loophole

bristolleedsfan

mahar wrote: »

hi

i already have an eSavings account, can i still qualify for this offer

spoke to natwest on the phone + they said no (but she sounded confused) - but website seems to say yes...

anyone know ?

cheers

Yes as long as u dont already have existing standing orders in place as it 040708.


http://www.natwest.com/personal/save-and-invest/savings/g6/cashback.ashx

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

mahar

thanks for that confirmation

so if i set up a SO of £100 a month from my natwest current account to my existing eSavings, (even if that £100 a month comes from my interest free overdraft), and then transfer it back to the current account a few days later, are they likely to give me the £50 or do you think they'll turn around and say NO!?

brookerbabyisababy

How long does it take for the standing order to show. I'm with First Direct and it still isn't showing as yet.

simpleguy_blr

Spoke to a Natwest CSR, she told me that I can pay in by Standing Order or by BACS and as long as i pay in a minimum of £100 a month for 12 months on the 13th month a credit of £50 would be paid into my account.

She also added that we are free to use the £100 (transfer out), what matters is the £100 credit everymonth to be eligible for the £50 Cash back.

So I think I shall make all future payments by BACS where in I can set the date of transfer...

Cheers.... :T

10past6

Cut a long story short, I opened a new step account in December 2007, I needed to save my service charge so set up a savings account which started in February this year, I pay £120.00 into it each month, but withdraw every 6 months, I don’t use internet banking, and have no idea about saving accounts, therefore do I qualify for this deal, as this is the first I’ve heard about it?

Thanks in advance for any guidance.

LongTermLurker

bristolleedsfan wrote: »

Can u send another please asking how non NatWest customers can move funds out of the e-saver, pointing out that we seem unable to set up a payee ourselves and we are reluctant to phone NatWest CS due to not being confident of being given the correct answer.

Just phoned them, asked to set up a payee, logged out, logged in and transferred a quid -

The money will leave your account immediately and the funds should normally reach the payee's account today.

Will update shortly...

simpleguy_blr

I wanted to transfer funds back to my HSBC account yesterday, and noticed that I could not do it on-line, So called their CS, gave them my HSBC details and asked them to setup a payee and to test the transfer by transferring £1, The CSR promptly setup the payee and I logged back in and could see that the transfer was setup for the next day (today).

The amount has been credited to my HSBC account successfully.

So to summarise, We need to call them to setup a payee (02088044892 used this number from saynoto0870 to call them) and then its quiet simple to transfer to and fro.

Cheers

Rogerb_2

I'm impressed - the SO lodged with my bank LloydsTSB, by NatWest, says allow 3 working days to reach non LloydsTSB account, but the £100 taken today as scheduled is in my new NatWest account within hours.

Not so good, my wife's SO doesn't seem to have been processed through to LloydsTSB in time, and is due on the 16th ie tomorrow ( Monday ). It is easy enough to set up, but just wondered if it was going to affect anything in terms of the £50? The mandate details are all recognised by the NatWest paperwork so I assume not.

latecomer

Just to let you know that if you are not on the electoral register then it might be worth giving this a miss.

I'm still trying to get the account opened having now exhausted all possible ID options - pay slip doens't have full name and accompanying letter from work accounts obviously didn't make any difference, HMRC coding notice doesn't have full name on it (but I presume they are a standard format and hence would never meet their requirements!). My remaining option is to go into the nearest branch with passport and let them photocopy it.

Getting to tbe point where its not worth the hassle for £50.

anniecave

latecomer wrote: »

Just to let you know that if you are not on the electoral register then it might be worth giving this a miss.

I am on the electoral roll (have been since 2005) and they still asked me to provide ID. I presume they are not checking it at all. I phoned up and was told the letter from my employer confirming I was employed by them plus the payslip (which doesn't have my employers name or address on it) would be fine. We will wait and see on that...