Natwest ISA interest

anna42hmr

bluebell_lily wrote: »

Natwest ISA rates for those with 2% bonus:

Last updated on: 1 Dec 2008. Including 2% bonus


BalanceAER
(variable)Gross RateNet Rate£27,000+5.33%5.20%N/A£18,000 - £26,9995.18%5.06%N/A£9,000 - £17,9994.87%4.76%N/A£1 - £8,9994.66%4.56%N/A

Interest paid monthly.
For customers who applied to transfer from 18 September 2008 until 9 November 2008.

so a 1.63% drop instantly, maybe not such a good account afterall, if it wasnt for the 2% bonus, it would be paying less now than my previous provider

YorkshireBoy

bluebell_lily wrote: »

Does anyone have the Natwest ISA phone number please?

http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx?DCMP=ILC-PersHPCashISABnr

Also, does anyone have the rates for November 2008 before NatWest dropped their rates today, and in October 2008 (after they dropped the rates)?

http://www.natwest.com/personal/savings/g6/rates/previous-rates.ashx#cashISA

masonic

YorkshireBoy wrote: »

Registered another 'concern' this morning, so we'll see what happens.

I'll be very interested in their response. Although I'm letting the issue of lost interest go at the moment, I'll be revisiting it once the issue of my seriously delayed transfer is resolved, or when I complain to the Ombudsman, if it gets that far (and it's starting to look like it might).

gorgirl

I signed up to transfer my ISA to Natwest on 8 November so I could get the highest rate (gross of 6.02%). I've seen that the rates have now dropped today so does that mean I won't get the rate I signed up for but 4.56% instead?

YorkshireBoy

gorgirl wrote: »

I signed up to transfer my ISA to Natwest on 8 November

The higher (2%) bonus applies as follows...

For customers who applied to transfer from 18 September 2008 until 9 November 2008.

http://www.natwest.com/personal/savings/g2/isas/cash-isa.ashx?DCMP=ILC-PersHPCashISABnr#tabs=section4

Rhino666

I think that the Natwest have been very sneaky here - delaying the recent impact of the base rate drop to haul in all the Icesave people, etc.

I was going to move to the Natwest with my ISA money once the certificate comes from Icesave - now looking at a 2 year fixed with Wesleyan bank. Natwest can get stuffed - I can say that with honesty - worked for them about 20 years ago :-)

I hope that all those people who were drawn in by their bonus will now look elsewhere and transfer away at the first opportunity.

anna42hmr

beleive me as soon as my 2% bonus ends next year i am transferring back out as their basic rates now are:
£27,000+3.25%3.20%N/A£18,000 - £26,9993.10%3.06%N/A£9,000 - £17,9992.80%2.76%N/A£1 - £8,9992.59%2.56%N/A

YorkshireBoy

masonic wrote: »

I'll be very interested in their response. Although I'm letting the issue of lost interest go at the moment, I'll be revisiting it once the issue of my seriously delayed transfer is resolved, or when I complain to the Ombudsman, if it gets that far (and it's starting to look like it might).

Hi masonic,

Their response, which I've accepted, was to meet me half way.

If they paid interest from the day of posting to my account (on day 2 of the 2-4-6 process), I was due an extra 3 days.

If they paid interest from the day after A&L closed and transferred my previous ISA, I was due an extra 9 days.

In the end, we agreed on 6 days interest...to be added at the end of this month along with December's interest.

I'm happy with that.

JamJar

YorkshireBoy wrote: »

Hi masonic,

Their response, which I've accepted, was to meet me half way.

If they paid interest from the day of posting to my account (on day 2 of the 2-4-6 process), I was due an extra 3 days.

If they paid interest from the day after A&L closed and transferred my previous ISA, I was due an extra 9 days.

In the end, we agreed on 6 days interest...to be added at the end of this month along with December's interest.

I'm happy with that.

Quite glad I found this series of posts as I have the very same issue with Natwest regarding my A&L transfer in - posted to my account on 4 Nov.

I wrote to Natwest today showing my calculations and the interest I believe I'm due.

Like others I'll be transferring out as soon as the bonus ends as they've been quick to apply the rate reductions 7.23%->6.86%->5.33% (using AER figures).

JJ

bobmo_2

When I transferred to Natwest I was told that the interest would be backdated so I wouldn't lose interest during the transfer. At the end of November (first month) it wasn't back dated. I have complained and been told that I will receive the back dated interest in December.

I will be surprised if I do.