Natwest £50 savings cashback loophole

Milarky

Given NatWest will pay the £50 into the account concerned, has anyone clarified with them whether it will be paid as taxable interest or as a 'rebate' without tax? (I rather suspsect it will be worth '£40' to most people..)

10past6

Kavanne wrote: »

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

I called Nat West, I understand it now, you have to set up a SO between the dates the offer was running, as I set up my SO well before the "Offer" date, I don't qualify :mad:

Thanks for the reply Kavanne

Kavanne

10past6 wrote: »

I called Nat West, I understand it now, you have to set up a SO between the dates the offer was running, as I set up my SO well before the "Offer" date, I don't qualify :mad:

WHat else did you expect? Pay more attention to the website so in future you know about these things.

brookerbabyisababy

I have one of these accounts and the standing order went through fine. I also set up a payee to my current account with another bank. But when I tried to make a withdrawel I got a screen telling me I needed to order a card reader and card. So I called Natwest who told me that they could transfer the money via their Action Line Service - which I did. However I have also received a card reader from them with no card. I called Natwest who now inform me that since I do not have a current account with them I can't make withdrawels from the account and there is no such thing as a Online Card. Is this the same that is happening to everyone? They have conned us with the £50 to make us get Current Accounts with them?

oscarhugo

brookerbabyisababy wrote: »

I have one of these accounts and the standing order went through fine. I also set up a payee to my current account with another bank. But when I tried to make a withdrawel I got a screen telling me I needed to order a card reader and card. So I called Natwest who told me that they could transfer the money via their Action Line Service - which I did. However I have also received a card reader from them with no card. I called Natwest who now inform me that since I do not have a current account with them I can't make withdrawels from the account and there is no such thing as a Online Card. Is this the same that is happening to everyone? They have conned us with the £50 to make us get Current Accounts with them?

I have had no problem [so far...] with receiving a card reader [and card] & duly withdrawing £100s that have been put into the a/c by S/O [that I set up myself]. I have no current a/c with Natwest. Exactly the same pertains to my wife's a/c [that I set up...] as well.

brookerbabyisababy

did they send you this card with the card reader or did you request it from them?

Kavanne

brookerbabyisababy wrote: »

They have conned us with the £50 to make us get Current Accounts with them?

A "First Reserve" savings account with Natwest does come with a cashcard. It has an appalling interest rate but it will allow you to access your money without going through a credit check.

oscarhugo

brookerbabyisababy wrote: »

did they send you this card with the card reader or did you request it from them?

I selected the card reader option on on-line banking & then the card arrived as "part of the deal". The card was sent separately from the reader I think - I can't quite remember - but I doubt they'd've sent them together for security reasons. But they might have done. Either way I certainly didn't have to request the card additionally. I can't see what the point would be for Natwest to give out a card reader but no card for it to read.... If somebody at Natwest has told you you can't have a card for your card reader they must be taking the pi$$ !

oscarhugo

oscarhugo wrote: »

I have had no problem [so far...] with receiving a card reader [and card] & duly withdrawing £100s that have been put into the a/c by S/O [that I set up myself]. I have no current a/c with Natwest. Exactly the same pertains to my wife's a/c [that I set up...] as well.

...also, I forgot to mention that the £100s have been received same day in my external account via Faster Payments [free of charge] !

TraceyJ_2

I rang to add a payee to my account today and was told I could only do this if I opened a current account with them too. The member of staff checked with two different people if this was absolutely necessary - they both confirmed it was. As I didn't want an unnecessary credit check he said in the end that I could open a first reserve savings account instead which was what I ended up doing. No doubt I've been given duff info but at least I'll be able to get my hands on my money!