natwest isa 7.32%

ozzage

YorkshireBoy wrote: »

I think you'll find the 'over-spill' account can be a savings account...it doesn't have to be a current account.

Could be true! I didn't have anything with them already. I suspect the OP was in the same boat.

ozzage

Canny_mal wrote: »

Following this morning's annoucement of a further 1.5% cut in interest rates if Natwest do as they did after the last cut and pass it all onto their ISA customers all of a sudden those eye catching rates don't look very good at all.

Assuming they reduce their rates by the full 1.5% their new gross rates for anyone who transferred in time to get the full 2% bonus will be as follows...

£27,000+...................5.15%
£18,000 - £26,999.....5.01%
£9,000 - £17,999.......4.72%
£1 - £8,999............... 4.52%

What a difference a few weeks can make!!! Now I'm left wondering if it's worth saving at all.

Thank god I got in on time for the 2% at least...

I'm saving for a housing deposit. I can't lock my money away, so I'm stuck with these instant access accounts.

anna42hmr

ozzage wrote: »

Thank god I got in on time for the 2% at least...

.

would i be, as i applied when the 2% on and the account has been open for some time now, but still waiting for natwest to cash the cheque that marks and spencers money have sent them (m and s sent the cheque to them on 29th october and stil waiting for natwest to cash it)

anna42hmr

still nothing i my account, going to check it later this morning and if still nothing im going to phone the branch as its 10 days since m&s sent the payment now and im not earning interest

nuthatch

anna42hmr wrote: »

still nothing i my account, going to check it later this morning and if still nothing im going to phone the branch as its 10 days since m&s sent the payment now and im not earning interest

I transferred two ISA's from Nationwide, one of which was a Tessa ISA and was transferred 2 days after the main one.
The first one took 11 days after the cheque was sent for the funds to appear in my account. The cheque for my Tessa ISA still has not been received ... 24 days after the account was closed.
I have made several phone calls to both NatWest and Nationwide, each time getting different answers. Both blame each other, also saying that it is the other institution who is responsible for the interest!
I'm basically getting nowhere.

I hope you have better luck than me.

anna42hmr

nuthatch wrote: »

I transferred two ISA's from Nationwide, one of which was a Tessa ISA and was transferred 2 days after the main one.
The first one took 11 days after the cheque was sent for the funds to appear in my account. The cheque for my Tessa ISA still has not been received ... 24 days after the account was closed.
I have made several phone calls to both NatWest and Nationwide, each time getting different answers. Both blame each other, also saying that it is the other institution who is responsible for the interest!
I'm basically getting nowhere.

I hope you have better luck than me.

i have managed to get through on the phone directly to branch (at least thats one positive with this account) after sometime on the phone, she has confirmed they have received the cheque from marks and spencers (she told me the amount so theyve definatly got it!) but she was checking why its not been applied to the account, she put me on hold a while longer whilst speaking to another department and she advised it appears its in processing, the other dept are calling her back and she will call me later today (only time will tell if she does, but if not i will phone tomorrow and monday and tuesday and so on until it appears in my account!

Milarky

nuthatch wrote: »

I transferred two ISA's from Nationwide, one of which was a Tessa ISA and was transferred 2 days after the main one.
The first one took 11 days after the cheque was sent for the funds to appear in my account. The cheque for my Tessa ISA still has not been received ... 24 days after the account was closed.
I have made several phone calls to both NatWest and Nationwide, each time getting different answers. Both blame each other, also saying that it is the other institution who is responsible for the interest!
I'm basically getting nowhere.

I hope you have better luck than me.

I suggest you should initiate a complaint at this stage (and make sure you say 'I wish to make a complaint' as otherwise they may not treat it as such even though they are supposed to) Why not cut straight the chase here and say that you: "expect to receive interest from the date after my accounts were closed at Nationwide as a condition for settling or withdrawing this complaint as, clearly, NatWest has mislaid these cheques, and I have never asked them to use a cheque as a method of transfer, when experience has shown that doing so is demonstrably unrealiable." [The hope would be they will quickly agree to butter you up with full interest so you'll go away and they can return to manually processing all those cheques. But their defence of the use of a cheque will be strained by the fact they choose to and it's gone wrong.]

HTH

anna42hmr

anna42hmr wrote: »

i have managed to get through on the phone directly to branch (at least thats one positive with this account) after sometime on the phone, she has confirmed they have received the cheque from marks and spencers (she told me the amount so theyve definatly got it!) but she was checking why its not been applied to the account, she put me on hold a while longer whilst speaking to another department and she advised it appears its in processing, the other dept are calling her back and she will call me later today (only time will tell if she does, but if not i will phone tomorrow and monday and tuesday and so on until it appears in my account!

what a surprise no call back yet, over 2 hours later, if i dont get a call by 3, i will ring them back

anna42hmr

why do i feel like i am banging my head against a brick wall with natwest!!

just called them as no call back since my call at 9.30 this morning, they have put me on hold, told me again they can see the money i have transfered in, out me on hold to speak to the transfer department, then the lady came back to me to tell me they received the cheque from marks and spencers on tuesday 4th october ( m&s sent it on tuesday 28th October) however it will not be until tuesday next week (11th November) before it shows up in my account, as they take 5 working days to process!

god help me if its not in my account by tuesday, else i will be in that branch as quick as a flash, if the money goes in on tuesday next week, that will be more than 2 weeks without any interest so it better had not go on for any longer

nuthatch

Milarky wrote: »

I suggest you should initiate a complaint at this stage (and make sure you say 'I wish to make a complaint' as otherwise they may not treat it as such even though they are supposed to) Why not cut straight the chase here and say that you: "expect to receive interest from the date after my accounts were closed at Nationwide as a condition for settling or withdrawing this complaint as, clearly, NatWest has mislaid these cheques, and I have never asked them to use a cheque as a method of transfer, when experience has shown that doing so is demonstrably unrealiable." [The hope would be they will quickly agree to butter you up with full interest so you'll go away and they can return to manually processing all those cheques. But their defence of the use of a cheque will be strained by the fact they choose to and it's gone wrong.]

HTH

As always Milarky, some very helpful advice from you, which is much appreciated. Yes I think the time has come to make a formal complaint, and I shall bear in mind the points you mention.
Many thanks