Natwest £50 savings cashback loophole

[Deleted User]

dupuytren wrote: »

to those of you who got the letter, did you leave the money in there during the course of the year or did you recycle the money ie take the money out at any time?

I withdrew the £100 next business day for 12 months in a row, and put it in my other natwest e-savings a/c that pays a bonus rate. Nice to play the banks at their own game and win!:D

firsttimestudent

Hello, just confirming - my first standing order left on 1 Aug 08, 12th standing order left on 1 Jul 09. I can now cancel my standing order for 1 Aug 09 right?

(I have yet to receive anything from Natwest regarding the £50 offer)

johnoz

Same here, caoimhin!

Megalomaniac

Just seen that Natwest have paid me (yes I recycled the same £100 every month). However, they have only paid me in the joint account, and I am still waiting for the £50 to show in my other e-savings account. I am sure it will in time...

edit: maybe it won't after looking at the terms and conditions - "one cashback payment per person and per savings account. In the case of a joint account, only one cashback will be paid."

I guess that means I can only get the one payment despite having one single and one joint account - doh!

edit 2: this will be helpful for those that now want to close their accounts:

Is it easy to close my e-Savings account?

Yes – although obviously we hope you’ll choose to keep your account open. To close your account, simply write to: FREEPOST RRAB-CXSB-RAGL, NatWest Bank, West Yorkshire, Retail CSC, 1 Victoria Place, Holbeck, LS11 5AN.

billieboy_2

Probably been a bit thick here but I went to transfer my money into another (not NatWest) account after receiving the £50 and can't do it without a current account, a card and a card reader. Have had to open a current account, order a card reader and wait for everything to come through before transferring:mad:. I couldn't just close the account as I have to have a NatWest account for my NatWest ISA. I'd left all the monies in the account over the past year to be on the safe side:rolleyes:. Should have read this thread more thoroughly ha ha.

[Deleted User]

£50 now received, and standing order cancelled!! :j

macaroni

My £50 went into my savings account yesterday !!

JimmyTheWig

firsttimestudent wrote: »

Hello, just confirming - my first standing order left on 1 Aug 08, 12th standing order left on 1 Jul 09. I can now cancel my standing order for 1 Aug 09 right?

(I have yet to receive anything from Natwest regarding the £50 offer)

I would imagine so, but why not play it safe and leave it in place until you hear from them. You can transfer it straight out as soon as it hits the account in any case...

rail.link

Got my cashback yesterday.

Many thanks, OP !

MissScarlett_3

caoimhin wrote: »

Hi, how long is it taking for people to get the£50 or confirmation letter. Is it about 28 days or just 1-2 weeks? Thanks.

12th payment 28th July, account credited with 50 pound 29th July.