Natwest / Icesave ISA

LGG_2

read a letter in the telegraph yesteday in their money section. someone had tried to transfer their natwest ISA to another provider and it took 4 months due to that fact that on two seperate occasions natwest sent off the cheques without putting the transfer paperwork in the letter with it. what sort of idiots are these ppl. anyway further on in the letter the person invovled got backdated intrest and compo because of the paper getting involved and it said natwest had also waived the ISA fee of £50. now what is the ISA fee. i know some banks charge you to transfer your ISA. but i dont remember being told or reading about any fee to move your ISA from natwest to someone else. does anyone have an idea as to what his is or if there is a charge to move it as i cant see anything. thatwould just be the iceing on the cake if they charged you that amount to get away from them

sceptic99

Jo99...take your money and run as far away from NatWest as you can! I only wish I'd read this forum before I went ahead with the transfer, but its been very helpful in getting it through the mess that NW love creating.

My ING ISA has finally closed so its now just a wait to see how long it takes NW to process a cheque.

I am not aware of an ISA fee....when I applied it was one of the questions I asked about and they said definitely no fee to leave, but then again, this is NatWest.............

TattyBear

sceptic99 wrote: »

tattybear....what is the 26 day gap? is it between the cheque being cleared from the account to the deposit in the isa?

if its roughly 1.7%, could it be the bonus bit of interest they give from receipt of form to money being in isa?

It took them 24 days to put the balance of the cheque in my ISA account, and my cheque cleared my current account after 26 days, the 24 days including 2 days at Christmas, new years day and weekends. So 21 days including weekends which equals 15 working days.

Phoned the complaints people today and told them that I wanted 16 days interest on my balance at the full rate. That's the 26 days I had my money earning no interest in my current account less the 10 days Natwest was saying it was taking to process applications.

This might be a bit cheeky given they were actually only 5 working days over, but it makes up for all the trips to the branch and phone calls I've had to make to sort this out. Besides, how long does it take to put a cheque through clearing?!

sceptic99

yeah you deserve to be paid that interest because of the delays, let us know how you get on. im coming to that point where i just want my money safe and accessible in a uk bank, and i know its a cop-out but i dont wanna raise my blood pressure over a few pounds with NW..

sallysaver

Hi,
The NW website says 1.60-2.50 for their current Isa. The advisor who promised the world last week told us we would get 7.2% but this is looking more like duff info. Had it not been such awful weather today, I would have been back down to the branch, but seriously, its just not worth it. So as we stand, no return call, letter which is on its way, still not here, definitely duff info on the rate by the looks of things and no new 'activation code' promised by the call centre muppett exactly one week today. You couldn't make it up. Sally

TattyBear

And top everything off, Natwest's online banking twice refused to accept my log on details and has withdrawn my access. :mad:

sceptic99

oh dear....sorry to hear that tattybear

sally....7.2%....what planet was that woman on?!?!

TattyBear

sceptic99 wrote: »

oh dear....sorry to hear that tattybear

sally....7.2%....what planet was that woman on?!?!

I don't know what planet she's on, but I'd have told her, You're talking out of Uranus

sallysaver

Hi,
Tatty Bear you should be on the Comedians! Seriously, its not funny. Actually, I questioned her on her 7.2% answer and she repeated it!!!!! Non of the promises have materialised, so here we are, another day on. Sally

LGG_2

the numpties at natwest have done it again. i checked my accounts today and the backdated intrest that i was due on my ISA because of them putting the majority of it into the wrong account has been added but guess where they have put it? yeap into the wrong account again. the first reserve account u had to open along side the ISA. the same account the majority of my ISA went into by "mistake" rung the branch and they said they will contact the tax department with a concern and hopefully it should be transfered within 4-5 day as dealing with the intrest is easier than dealing with the actual ISA. its riduclous because if this goes on for weeks they will then owe me the intrest on the £86 intrest that is in the wrong account. it will go on and on. anyway at least the £86 is more than i was expecting.