natwest isa 7.32%

Gazza_UK_3

Nope, not a customer. She opened a First Reserve account for me etc with zero balance.

Quite surprised all has gone through as quick as this.

This sort of thing does not normally happen to me.

oldfella

started transfer on 1 Oct, YBS sent cheque on 16th, showing in Natwest today. New customer of Natwest. Efficient handling by both parties - somewhat different from my experiences with Barclays.

goodfella66

Started the transfer on 24th September, received letter from A+L dated 18th October saying they have sent a cheque to Natwest but not in account yet.

mikegahan

I had problems with this. I went in to my local branch in Putney and had all the correct forms filled in. The assistant said i had to open a current or savings account at the same time as i was a new customer. He did try to push me into a premium current account (cost £12 per month) in an underhanded fashion but I spotted this. Got assurances that it would be up and running in 3 weeks. Got a letter 3 weeks later from the Nat West ISA transfer branch in Manchester saying they could not trace my account and please go into my local branch and sort it out. Was I confused?
Why could they not ring up the local branch and sort it out? These people do not inspire confidence and i had doubts about the whole things so I called it off and stayed with my current provider

anna42hmr

i hope mine goes through ok, only just read the negative posts on this

i went into natwest to open it today, was advised i had to open another account "incase you accidently over pay into the isa" got the ad gold account (but as i work for the group - not the bank side may i add) i dont have to pay any way and all i have to do is deposite £1 a month, thats fine

so i opened that and requested the transfer from my current provider (marks and spencers money - though that was fun in itself trying to explain they dont have a sort code/account number as their not a bank and client ref only) so fingers crossed it goes through ok, she advised me it could take up to 21 days for the transfer.

actually can any one on here also answer me, i have the account numbers for both the accounts, does any one know if they will show up automatically on my online natwest acount (i have a credit card with them and am registered for online banking with this) as neither are listed yet, is it because its too soon, or do you have to manually add it to the online access?

Gazza_UK_3

Because I was not a NatWest customer, I received info through the post saying both accounts had been set-up. Then I received info on my online account, in 2 different postings. This enabled me to login and check my accounts.

there I can now see my ISA account when I login.

riad_2

Opened the ISA in branch on 3rd Nov, which was showing on Natwest Online Banking the following day. Handed in 2 transfer forms - Icesave and Barclays Tax Haven.

Just noticed that the Barclays Tax Haven ISA has disappeared from my list of accounts in my Barclays online banking today... so presumably a cheque is on it's way to Natwest!

Lets see how long it takes for the money to appear in the Natwest ISA!

As for Icesave, God only knows if and when that will ever arrive!

Ainsdale

Thought it might be helpful if I post my experience with the Nat West ISA.
I opened an account at interview in the local Branch (Southport) on 2nd October. Had letter to confirm the account numbers the following working day (3rd) and could see the new accounts on the internet as well, which I thought was quite impressive.
Does this help answer your question anna42hmr?

I was transferring from Abbey and they confirmed by telephone and also by letter that they actually sent a cheque to Nat West on 15th October (2nd class post which they say all banks do).
Rang Nat West on 20th and 21st this week and they said they couldnt tell me whether they had received the cheque or not (dealt with by a single quality assurance department at Plymouth).
The money actually appeared on screen in my Nat West account this morning 23rd and showed as credited to the account on 22nd. So the account was opened exactly one week after the cheque was sent from Abbey on 15th.

No complaints re the time taken by Nat West to set up the account, but even allowing for second class post I suspect it will have arrived with them on 20th. So my guess is that they have probably saved themselves about 2 days interest on a fairly large transfer. Small beer by itself, but if they do this for many thousands I guess it is a helpful litttle extra for the bank.

What irritates slightly is that they clearly had no intention of confirming exactly when the cheque was received and it wouldnt surprise me if this is the same for all the banks. Another reason for banks to keep the process slow and clerical because it is difficult to prove when something arrives by post compared to automated.
Then again perhaps my recent dealings with Kaupthing CHAPS have just made me a grumpy old man!;)

anna42hmr

Ainsdale wrote: »

Thought it might be helpful if I post my experience with the Nat West ISA.
I opened an account at interview in the local Branch (Southport) on 2nd October. Had letter to confirm the account numbers the following working day (3rd) and could see the new accounts on the internet as well, which I thought was quite impressive.
Does this help answer your question anna42hmr?

!

yep it does, many thanks, i appreciate it

ozzage

I went into the City of London branch this morning and opened a new current account (wasn't an existing customer) and the Cash ISA which I'm transferring from Lloyds TSB. After all these posts I'll be very keen to see just how long this is going to take...

Experience so far was excellent, incidentally. Very good service at the branch.