natwest esaver 6.50%

YorkshireBoy

YorkshireBoy wrote: »

EDIT: And yet another savings account destined for the top of the savings tables which quotes an AER that is impossible to achieve!

Looks like I need to take this statement back.

They must have been so inundated with requests for additional information on this account that they have now added a FAQ section (tab 3). Amongst others, the following are 'cleared up'...

1. You can have more than one e-Savings account.

2. The bonus period runs for a full 12 months once it kicks in (at the end of the month following month of opening).

FAQ here: http://www.natwest.com/personal/savings/g1/instant-access/e-savings.ashx?DCMP=ILC-PersHPeSavBnr#tabs=section3



ABN, there's an 'Apply online' button at the right-hand side of every page relating to this product.

ABN

YorkshireBoy wrote: »

ABN, there's an 'Apply online' button at the right-hand side of every page relating to this product.

miss that as it fell off te side of my browser.

Thanks

YorkshireBoy

I've applied for one of these accounts today, and a message during the application process informed me that it could take 3 weeks to open the account.

Since the bonus kicks in at the end of the month following month of account opening, and because today is the 28th, then it looks like my bonus won't kick in until the end of November.

If I'm right, it looks like everyone applying this month will be in the same situation, because there weren't 3 weeks of September left when they launched the account.

I'll obviously check with NatWest tomorrow, but has anyone else spotted this...or asked NatWest for clarification?

natweststaffmember

YorkshireBoy wrote: »

I've applied for one of these accounts today, and a message during the application process informed me that it could take 3 weeks to open the account.

Since the bonus kicks in at the end of the month following month of account opening, and because today is the 28th, then it looks like my bonus won't kick in until the end of November.

If I'm right, it looks like everyone applying this month will be in the same situation, because there weren't 3 weeks of September left when they launched the account.

I'll obviously check with NatWest tomorrow, but has anyone else spotted this...or asked NatWest for clarification?

That kind of aligns with their 2 year fixed bond which starts from the date of 26th(I believe) of November.

johnmoney05

YorkshireBoy wrote: »

I've applied for one of these accounts today, and a message during the application process informed me that it could take 3 weeks to open the account.

Since the bonus kicks in at the end of the month following month of account opening, and because today is the 28th, then it looks like my bonus won't kick in until the end of November.

If I'm right, it looks like everyone applying this month will be in the same situation, because there weren't 3 weeks of September left when they launched the account.

I'll obviously check with NatWest tomorrow, but has anyone else spotted this...or asked NatWest for clarification?

It only took 24 hours for my account to set up, and I fund the account straightaway.

Brian_Bullocks

dougz wrote: »

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?

I don't know where you got your info., but this is from their FAQs:-


How do I make a deposit?

It’s easy. You simply have to:
make an electronic transfer from an existing NatWest account

OR
pay a deposit by cheque from an account you hold with any UK bank

After this first deposit, you can pay money in by electronic transfer from any UK bank account. Looking to save regularly? You can also set up a standing order.


How do I make withdrawals?

Simply make an electronic transfer from your e-Savings account to any other UK bank account.

iltisman

Mine only took a day to setup and I transferred cash into it no problem,they still sent me a note requesting I authorise transfer of £1 to start account off but I have ignored that as I have already put a few £K in.

lolly5648

I have a current a/c with Natwest and opened an esave. It showed up the next day on the list of accounts and I transferred money into it. I received their confirmation letter around 5 days lated and like iltisman I am ignoring the request for the original transfer.

I assume mine was opened quickly as they did not have to do any searches

marksmith99

Just spoken to Natwest who tell me that this is new esave customers only. Even if I open a second esave account now I will not get the bonus added because I already have an account at the lower rate.

Seems to be real life exactly imitating the Nationwide advert about treating new customers much better than existing.

chris1

marksmith99 wrote: »

Just spoken to Natwest who tell me that this is new esave customers only. Even if I open a second esave account now I will not get the bonus added because I already have an account at the lower rate.

Are you sure? They told me the opposite!