Natwest £50 savings cashback loophole

RobLondon1984

I just opened the account on Monday, I am confused with how it works

When does the e-savings account open? and will I recieve anything through the post?

What day of the month does the £100 comes out of my Current account? and how do I withdraw money from the e-savings account?

Do I get a seperate bank statement sent to me? and can I view the e-savings from online banking?

If anyone can answer those questions, that would be great. I was going to ring Natwest, but wasn't sure what to ask them.

Thanks

Oldgeek

I have opened the E-savings account and have had a nightmare speaking to help lines about the standing order they ask you to fill in and return. The account has been opened but the SO has not been sent to my bank. One person said I should go into my bank and set up the standing order again because it must have been lost in the post! I finally got through to someone who helped me; she said I have had trouble getting anywhere because it is an internet account with no support and help lines do not have any knowledge of it. It seems there is not even a help line for it. If you look on the site there is no phone number, only a text box to type your question in! Here is the number where I finally got somewhere (I hope!) 0845 605 0789. Good luck!

Dagobert

I set up an eSaver.

To-day, I set up a payee over the phone as you can only do this online if in possession of the card reader.

It turned out that a payment to an existing cannot be made without the device either. I phoned again and was told that the first payment had to be done with the card reader or over the phone and all subsequent payments could then be made online.

O/H just went through the same procedure but he was told that he would never be able to make online payments without the card reader.

Which story is true?

John_0771

Whats a card reader ?

EDIT:
Oh http://www.natwest.com/microsites/general/card-reader-user-guide/index.asp I want one!

Anon

Have the paperwork to send back - strangely the Standing Order instruction that you are supposed to confirm does not show the account number, so not sure what use it will be?

Anon

bristolleedsfan

John_0771 wrote: »

Whats a card reader ?

EDIT:
Oh http://www.natwest.com/microsites/general/card-reader-user-guide/index.asp I want one!

I requested card + reader yesterday, it said will arrive within 15 days, pity the stipulation wasnt there a couple of weeks ago as impression was given that recognised bills eg council tax could be paid without a card reader or phoning up NatWest.





This function requires additional security and you don’t appear to have a Card-Reader yet.
Why not order a Card-Reader now? If you do you’ll be able to use this function very soon.
When you’ve finished, call Telephone Banking or your branch and we’ll do our best to help you until your Card-Reader arrives.

For a list of helpdesk numbers, please see our page of contact numbers.

Without a Card-Reader you can:

• View transactions and statements for any accounts and cards that you hold

• Transfer money between accounts if you have more than one held in your name

• Make payments to any mandates/payees arranged and previously paid online

• Apply for extra services and products online

• Order new cheque books or paying-in books on suitable accounts

With a Card-Reader you’ll also be able to:

• Set up new mandates/payees online

• Arrange and amend standing orders on suitable accounts

• Manage personal details, like your mobile phone number

Card-Readers are easy to use and free.

If you don’t have a suitable card to use with a Card-Reader, we’ll send you one of those too.

If you can’t make up your mind now, you’ll be able to order one from within online banking at any time.

Oldgeek

The idea seems to be you fill in the SO and send it back. They will then put your account details on it and send it to your bank. See my message of yesterday. Oldgeek.

10_66

Anon wrote: »

Have the paperwork to send back - strangely the Standing Order instruction that you are supposed to confirm does not show the account number, so not sure what use it will be?

Anon

They're supposed to enter the account number on the SO when you return it to them, before they send it on to your bank. Unfortunately, they failed to do so before sending mine on to bank. Bank had to contact me asking for relevant details.

MoneyWorries_2

Just thought I would add that I set my E-savings Account, to get the £50, up online yesterday afternoon - and I was given my account number & sort code for the new savings account at the end of the signing up process. That may have been because I have a current account with NatWest already, have a card reader and do online banking.

This morning the new savings account had appeared in my list of accounts on online banking and I was able to set up the standing order.

I have posted this to say that it is certainly not too late to beat the September 6th deadline for the £50 cashback - especially if you happen to already have an account at NatWest.

pinkfluffybabe

I seem to be in a similar boat to others, my account is opened but there is no SO set up on my Lloyds current account and my £1 cheque hasn't been cashed.

Edited to add: just had a letter from Lloyds saying that they are happy to set up an SO but need the Account Number it is going to. Not very good administration from Natwest.