Natwest e-savings... HOW TO PULL MONEY?

f_@_w_y

Dear All,

I recently transfered £10k to my newly opened Natwest e-savings. This morning when I logged in and clicked on the option to do a payment to my account, it says you have to order the card reader (which will take 15 days to come) and then I can make a PAYEE.

I currently dont have any Natwest account other then this. I cant pay my £10k to myself in another bank account.

Any ideas?? What shud I do? Is my 10k stuck in this bank???

mrposhman

probably. They may allow you to set the payee up over the phone whilst you are waiting for the card reader though they may refuse as its an internet only account i believe.

Worth trying if you get the 0800 number off www.saynoto0870.com

f_@_w_y

thanks mrposhman,... thats very helpful

sparky666

They should be able to transfer it for you over the phone, I have just ordered mine as well.

LucyTheDwarf

Whoa... I'm so glad I saw this thread... I need my money, that I'm planning to put in this account when it's finally opened (3 weeks and counting), on at least a monthly basis.

I'm confused though: "Card reader" - surely I wont have a card with a savings account? I thought it was a purely online account, ie, no cash card, and saw nothing to the contrary in the ts&cs.

ajaxgeezer

LucyTheDwarf wrote: »

Whoa... I'm so glad I saw this thread... I need my money, that I'm planning to put in this account when it's finally opened (3 weeks and counting), on at least a monthly basis.

I'm confused though: "Card reader" - surely I wont have a card with a savings account? I thought it was a purely online account, ie, no cash card, and saw nothing to the contrary in the ts&cs.

...this surprises me. I'm Natwest through and through, but have only ever had to use the card reader to instruct payments out of my current account, never my savings account.

Hmmm.. that said, if there is no current account then I guess the money has to come out of the savings account, so it shouldn't be surprising after all.

To me the card reader is no hassle at all - it adds about 40 seconds to a transfer process the first time a new regular transfer is set up, and that's about it. If it helps security in any way shape or form, then that 40 seconds is 40 seconds I can spare.

musehead

I've had to order a reader too, but I don't really understand how it will help when I don't have a card for my e-savings account (and no current account there).

brookerbabyisababy

when you order the card reader they automatically send you a card and pin to use with it. the whole process takes ages and you can't do one without the other. but if you need to make a payment in the mean time do use the telephone banking and ask for the transfer to be made using faster payments.

oldagetraveller

I think you need to contact them by 'phone and enquire about this.
I've just tried a £1 payment to an external account, up to the final confirm stage, and at no time was a card reader required. Or were you asked to use the card reader after the final confirmation?
Surely if a card reader was required they would have sent one when you opened the account? And yes, if you don't have a card for that account, or any other, how the heck are you supposed to use the card reader? Unless they send a card to use with it?

EdInvestor

You can set up payments to yourself over the phone. Indeed you must do it like this even if you already have a card reader, as I do.

Celt08

I cancelled my esavings account with Natwest in the end - its just a hassle - card reader, setting up over the phone etc.

Other esavings accounts are much simpler such as Birmingham Midshirea and Bradford & Bingley.