natwest esaver 6.50%

brookerbabyisababy

Milarky wrote: »

Open a second e-savings - which is allowed - just before the end of the month, pay in £1, wait one month, move what you've got (over £1) from the old e saver to another bank. Then transfer the amount back to the second account. A small trouble for a large reward. [I'd assume there wasn't much in the current e-savings account anyway, at 4.30%?]

I don't understand, why would you just before the end of the month, pay in £1, wait one month?

YorkshireBoy

brookerbabyisababy wrote: »

I don't understand, why would you just before the end of the month, pay in £1, wait one month?

See post #5.

pattycake

I have a joint current account (with my husband) with NatWest and have now opened an e-saver with them in just my name. I indicated that I would open the account with £10 following the advice in this thread.

When I submitted the application I did it through my on-line banking page and it already had all my details. The application went through and I have the account number etc.

My question is, how can I now view this account? I have not had an email from them and it does not appear on my on-line banking list. I assumed the £10 initial deposit would be debited my from current account but that has not happened either. I have only done all this today, so am I being too impatient?

Milarky

pattycake wrote: »

My question is, how can I now view this account? I have not had an email from them and it does not appear on my on-line banking list. I assumed the £10 initial deposit would be debited my from current account but that has not happened either. I have only done all this today, so am I being too impatient?

Probably. Wait a few days at least. The account, when it appears, should be opened with today's date I imagine.

shazkhan111

just to clairify understanding

"" Interest is paid monthly to the account. The bonus interest will be applied from the last business day of the month following the month in which your account is opened. It will be paid monthly along with the standard interest payment. The Gross and AER rates are applicable from the start date of the bonus. Offer may be withdrawn at any time. ""

If i open the account today 21/9/2008, the account will pay a rate of 4.30% till 31/10/2008 (the last business day "next month") and there after I'll get 6.50%.

Deos the 12 months start from 21/9/2008 or 31/10/2008???

ashapala

pattycake wrote: »

My question is, how can I now view this account? I have not had an email from them and it does not appear on my on-line banking list. I assumed the £10 initial deposit would be debited my from current account but that has not happened either. I have only done all this today, so am I being too impatient?

When i opened one last week, they sent me no correspondence other than a letter which came a few days later. I had to post back a slip to them to confirm my initial deposit ( and tax status) and then a few days later that went through.

In terms of seeing the account on my online banking page, it appeared 2 days later. And i could transfer money to and from it even though my intitial deposit was still waiting to go in.

Its a patience thing. NatWest are just being slow:)

dougz_2

22.9 Deposits after the initial deposit can only be made by electronic
transfer from a NatWest account in your name (or, if you hold
the account jointly, from a NatWest joint account in the same
names or from the personal NatWest account of a party to the
account) or by regular standing order from any UK bank account.
22.10 Withdrawals from your account can be made:
(a) by electronic transfer to any NatWest account in your name
(or, if you hold the account jointly, to a NatWest joint
account in the same names or a personal NatWest account
of a party to the account); or
(b) by third party mandate to any other UK bank account.

Looks to me like it could be a right pain to use this unless you also have one of their current accounts. The above seems to say you could only deposit by standing order, and the only way to withdraw is by "third party mandate", whatever that is?

So how would the faster payments work that people have mentioned?

dougz_2

So does anybody know what third party mandate means?

sweet_charriot

I contacted Natwest as a customer of 30 years standing explaining to them I would be receiving a substantial deposit in the next 2 weeks and they advised me to open the Esaver account. This i did and then 2 days later see this new rate. I contacted them and was bluntly told if you don't like it close it and open another one to obtain the new rate. I asked why nobody had advised me that within 2 days the new rates would apply as a long standing customer and was told I should have been informed. I am awaiting their response to me depositing no money with them before I will muck about with new accounts, not holding much joy until they see the amount moved out.

johnmoney05

sweet_charriot wrote: »

I contacted Natwest as a customer of 30 years standing explaining to them I would be receiving a substantial deposit in the next 2 weeks and they advised me to open the Esaver account. This i did and then 2 days later see this new rate. I contacted them and was bluntly told if you don't like it close it and open another one to obtain the new rate. I asked why nobody had advised me that within 2 days the new rates would apply as a long standing customer and was told I should have been informed. I am awaiting their response to me depositing no money with them before I will muck about with new accounts, not holding much joy until they see the amount moved out.

Wise........:beer: