natwest esaver 6.50%

marksmith99

Well I've opened a second one and stuck another £1 in with monthly interest, so eventually should be able to work out whether I'm getting the bonus or not.

If anyone confirms you do get the bonus with a second account opened after the date, please let us know, I might put a bit more into it!

Bazzeer

charlieboycat wrote: »

But that's the question - will you get the bonus on the new account? I was told you would - but marksmith99 was told he wouldn't. The website refers to "new accounts", not to "new savers" - so prima facie you should get the bonus. But is there I wonder some not very obvious small-print somewhere ....

There's nothing to lose by opening a new eSavings account and switching into it everything in the existing eSaving account, but I'm a bit wary of transferring in substantial funds from elsewhere until I know for certain.

A quote from the website "Simple - there are no confusing conditions or penalties. Simply open a new account to get the 2.09% bonus"

To my mind this quote has only one interpretation ... anyone opening a new account will get the bonus ... mind you, your caution is wise

sweet_charriot

I rang Natwest today asking what had happened to my application for the new Esaver having only just opened the original lower interest one. According to them never received my paper work.:mad:
Then asked about my application for cash ISA told by Call Taker this was not a tax free saving account, (had to expalin to the lady) am now getting worried.:rolleyes:

Dagobert

The Tesco Internet Saver has been upped to 6.5%, and that comes without the wait for the bonus shenanigans and has exactly the same internet banking features.

It might be beneficial to open the NatWest account as well though as it will have another 2 months' bonus once the Tesco bonus has ended.

sweet_charriot

Are Tesco linked to anybody else ie Bank considering applying.

MarkFromCornwall

I'm in the process of opening NatWest e-Saver and Tesco Internet saver accounts. I was struck by the similarity of some of the paperwork. They were so similar that there must be a connection. Perhaps they just both buy their forms from the same third party supplier, or perhaps it's a closer connection. Does anybody know?

sweet_charriot

Same software application perhaps?

Baldur

sweet_charriot wrote: »

Are Tesco linked to anybody else ie Bank considering applying.

Tesco Personal Finance was set up in a joint venture with the Royal Bank of Scotland in 1997 but RBS interest was later bought out by Tesco.

Tesco Personal Finance is approved by the FSA in its own right - not linked to any other banking group - see this table.

redagila

marksmith99 wrote: »

Well I've opened a second one and stuck another £1 in with monthly interest, so eventually should be able to work out whether I'm getting the bonus or not.

If anyone confirms you do get the bonus with a second account opened after the date, please let us know, I might put a bit more into it!

I had an appointment to see a customer advisor at my local branch today to open an ISA. I asked him to check that if you had the earlier e-saver whether you could open this new one and qualify for the bonus rate on it. He came back to me later having spoken to the appropriate department and confirmed that I would receive the bonus rate on this new e-saver even if I had an earlier e-saver. The earlier e-saver would continue to receive the lower rate.

I am going to open the new one and will challenge them if I find that I am not receiving the higher rate.

On the website, it states you can have more than one e-saver. Also that new e-savers opened after 19 Sept. receive this rate, so I really do not believe there will be a problem.

noh

MarkFromMullion wrote: »

I'm in the process of opening NatWest e-Saver and Tesco Internet saver accounts. I was struck by the similarity of some of the paperwork. They were so similar that there must be a connection. Perhaps they just both buy their forms from the same third party supplier, or perhaps it's a closer connection. Does anybody know?

As already stated by Baldur, Tesco Personal Finance was a 50/50 joint venture with RBS who own Natwest. Tesco bought out RBS in July.
RBS still provide the services for Tesco Personal Finance hence the similarity of the forms used.

From http://www.theherald.co.uk/business/news/display.var.2411688.0.Royal_sells_out_of_Tesco_finance_venture.php


"The supermarket group and Royal have signed contracts which will see the Scottish bank continue to provide services to Tesco Personal Finance's general and life insurance, cash machine, banking and Tesco Compare operations for between two and seven years, with the duration varying according to product line."