Natwest £50 savings cashback loophole

Cozworth806

Counter55 wrote: »

[Apologies if I have missed this being posted already in this thread]

Having had a problem with the Tesco internet savings account - Tesco card reader thread - I checked this account for the same problem (the Tesco account is run by RBSNatwest)

To set up a payment to withdraw your money you need a card reader. You only seem to get told this when you go to set up a new payee. This may not apply to customers with a Natwest current account.
If you haven't yet started to take out the money deposited by standing order you may want to log in and order a card reader (and card). It can be 2-3 weeks before you can access your money.

Nationwide also do this if you want to transfer any money out of the flexaccounts, its a pita as it means I either have to carry the thing around or only do it at home.

snootyjim

I know that by now most will have already signed up if they are interested, but I would just like to give a couple of pointers regarding this, for people who don't have a Natwest account and sign up with the intention of transferring money from another bank and then back again.

Most of the staff are completely unaware of the system in place for transferring money to another bank (in my case A&L), and so often the best thing to do is to quote the T&Cs - all of the people I have spoken to have been extremely polite, friendly and helpful, and generally said 'If it's in the T&Cs I won't argue with you', and had to put me on hold a bit and get in touch with other people to work out what they needed to do.

I sent a letter through to the Freepost address listed in the Terms and Conditions, saying roughly "I hereby nominate my A&L Current Account, Sort Code *** and Account No *** for payments from my Natwest Savings Direct Account Sort Code *** and Account No ***, signed ***". However, online transfers still fail, so I have had to telephone a "customer account agent" so that they can sort out the payment for me.

All in all, it's quite a lot of hassle, sending the letter and being put on hold for ages whilst sorting it all out, but I'm on £5.20 an hour or so, working just at weekends, so if it takes me 5 hours work to sort, it's still worthwhile, and that isn't too likely in my opinion.

[Deleted User]

natman wrote: »

Hi Guys.

I have just closeD MY New Natwest Account -
Nothing but hassle, I opened it begining of August and still now, no Standing order been set up( set it up twice with Natwest)
They advised me to set it up myself, Natwest then said if they dont set it up with official paperwork, it would not be an official Natwest Standing order and i may not get the £50.00 cashback becasue Natwest had not set the standing order up.......................Cant beleive it !!!
What a load of numties!!!!!
Get out and stay out

Hmmmm..... I opened the natwest esaver mainly to grab the £50. I have banked with them for many years, and obviously already had the current a/c in place. When I applied for the esaver online, I ticked the boxes to confirm that I wanted to set up a standing order to put £100 per month in... The standing order paperwork arrived in the post.... I decided to call natwest to ask whether it was entirely necessary to post the form back to them; because as far as I could see, I could set the standing order up myself online.... I was told that I did NOT need to send the form back, and that I could indeed set the standing order up myself.... So I did! The payments started on the 4th August.

Having read the above quoted post, I am now wondering whether I will qualify for the £50 because I set the standing order up myself, as advised by natwest....!!!! The terms and conditions re the £50 cashback deal stated...
< To benefit from the cash incentive, you will need to set up a standing order of a minimum of £100 a month between 7 July 2008 and 6 September 2008, to start no later than 4 October 2008, and keep this in place for 12 consecutive months.>

It does not say natwest must set the standing order up, it says YOU!

I would be p****d off to say the least if they didn't play ball after 12 months of £100 going in - out - and in again!!!!

Does anyone know NATWEST's email address please; I can't for the life of me find it anywhere on their site (even when logged in). I want to email them to ask whether I will qualify for the £50 after the 12 months; and I want their answer in writing.

I've actually just opened another natwest esaver because of the new bonus rate - So hopefully I'll get the £50 for playing the system with the first a/c, and actually use the new a/c for the better rate! The lengths we moneysavers go to eh!:D

Goldfinger.

funkyhitman

Deleted_User wrote: »

Does anyone know NATWEST's email address please; I can't for the life of me find it anywhere on their site (even when logged in). I want to email them to ask whether I will qualify for the £50 after the 12 months; and I want their answer in writing.

I've actually just opened another natwest esaver because of the new bonus rate - So hopefully I'll get the £50 for playing the system with the first a/c, and actually use the new a/c for the better rate! The lengths we moneysavers go to eh!:D

Goldfinger.

Yup, on the homepage, click 'contact us' top right and then scroll to the bottom of the page where it says 'feedback' then click 'personal and private banking customers' and in the new window click 'online feedback form' and ask your query (finally)!

I have also opened my second e-savings account!

arsenalboy

I emailed them last week and asked them to confirm I would get the £50 and got a reply today which said

Thank you for your e-mail.
In view of your comments, I can confirm that due to a back log, the deadline dates have been extended and yours will be honoured.
Thank you for taking the time to contact Customer Relations. I hope I have clarified and resolved matters for you.

I have printed this off in case I need it in a years time. I would advise anyone that is worried to email Nat West as they will not honour your £50 based on my email !!;)

[Deleted User]

arsenalboy wrote: »

I emailed them last week and asked them to confirm I would get the £50 and got a reply today which said

Thank you for your e-mail.
In view of your comments, I can confirm that due to a back log, the deadline dates have been extended and yours will be honoured.
Thank you for taking the time to contact Customer Relations. I hope I have clarified and resolved matters for you.

I have printed this off in case I need it in a years time. I would advise anyone that is worried to email Nat West as they will not honour your £50 based on my email !!;)

Can I please ask whether you were logged in to the online banking service when you emailed them; AND if so, do Natwest automatically see your a/c nos., etc?

I am planning to email them for confirmation too, but I don't know how much information I should put in the email for security reasons. Obviously they'll need my a/c no.!

I've actually got 2 e-savings a/c's, the 1st for the £50 cashback, and the second to actually use in a month's time when the bonus rate kicks in.

Any help/advice would be appreciated.

Thanks in advance.
Goldfinger.

arsenalboy

Goldfinger, no I haven't bothered to register for online with them yet.
I just went on the ordinary web site and followed the contact us links. I quoted the account number and nothing else.
I wasn't expecting such a positive reply, but I wasn't just going to wait 12 months to find out!

Daps

Goldfinger, I did exactly the same thing as you - set the Standing Order up myself. For ages I had no idea what was happening with my account, so I just called up Natwest, asked them to have a look at my account and make sure everything was good for me to get the £50 cashback (so long as I kept the standing order running for another 11 months) and they confirmed that yes, everything was fine, and everything is in order for me to get the cashback.

So this should be the same situation for you also. I'd still email them though to get something in writing, let us know what they say in reply!

10past6

Does anyone know the date when this £50.00 cashback actually started, I've had a savings a/c since December 2007 and not spoken to NatWest about this offer.

Is it worth me calling them?

Kavanne

10past6 wrote: »

Does anyone know the date when this £50.00 cashback actually started, I've had a savings a/c since December 2007 and not spoken to NatWest about this offer.

Is it worth me calling them?

No it started in July or June I think. And you would have had to set up the SO before Sept. Sorry