Natwest / Icesave ISA

Skieasy

TattyBear wrote: »

Well, I've had a result today. Customer complaints lady phoned me and I'm getting another £65 approx in backdated interest. So that's a total of about £110 I've got out of them.

Inspired by your post TattyBear I had another go at my local branch in spite of their previous failure not once but four times to revert to me via their manager.

I'll get a month's backdated interest at 6.5% to cover the missing 22 days from Icesave cheque deposit to entry into my ISA account plus £50 compensation, the latter only, grudgingly, paid to extreme cases for which I apparently qualified.

Could have done without the hassle and grief, but £150+ should ease some of that.

Good luck to others with as yet unsettled claims.

ElusiveLucy

I can feel a trip to the branch coming on!!!

I've had £17 in interest so far, and I opened the ISA on 16th Dec with £25k+!!!

Grrr!

Funty_2

I've had a pretty similar experience to those decribed in this thread.

I went into a branch on 16th Dec with my certificate and the bank details to where my £22k resided. I had confirmation that the account was opened on 23rd Dec, despite numerous calls since then trying to make things happen, the money has still not gone through. Last Friday after visiting the branch I had a call telling me that they'd lost all the details I'd given them - including the original copy of my certificate! They have told me that everything will still be okay, but I need to visit the branch again today to fill the original form in again.

I don't have a record of the exact interest rate for £22k on 16th Dec....I think it was about 4.5%, but I'd be grateful if someone could confirm as I want to ensure that they stick to the original deal.

LGG_2

don't have a record of the exact interest rate for £22k on 16th Dec....I think it was about 4.5%, but I'd be grateful if someone could confirm as I want to ensure that they stick to the original deal.

check on the website i think all previous rates are on there. i think it might have been 4.95. as i opened an account around that time with a similar amount of money

ElusiveLucy

Strange we all opened them at the same time and are having similar problems.

My figures are very similar to yours Funty, maybe we should compare interest when yours is sorted (16th , mine £25k)

Funty_2

ElusiveLucy wrote: »

Strange we all opened them at the same time and are having similar problems.

My figures are very similar to yours Funty, maybe we should compare interest when yours is sorted (16th , mine £25k)

Cheers for the replies. Everything seemed to go okay yesterday. I was dealt with by the same guy who opened the account for me. He took all my details again, confirmed that I'd receive interest backdated to the date on which the account was originally opened, he also confirmed that the rate I opened on was 4.5% and said that they would be happy to confirm that in writing.

I'll let you know how it progresses from here.

ElusiveLucy

Good luck Funty. The girl who opened my ISA certainly jknew what she was doing and said all the same things, it was just from thereon in it went wrong. I waited narly a month and then got a letter saying there were insufficient funds in my account (I had my ICEsave money sitting in my HSBC current account - nearly had a heart attack and was straight on to online banking to check it was still there!!!). In the end I had to use online banking to transfer the money myself into the ISA, then some of it ended up in the linked NW accoutn instead, it was very frustrating. So good luck!

LGG_2

natwest talk a good game but thats about it.

LGG_2

LGG wrote: »

update from the bank with every excuse going. the intrest had to be taken out as it couldnt be transfered across as it would just be bounced back due to the fact i have put 3600 into the account already this tax year.. next excuse is that the intrest will be added onto the account at the end of feb as they have just missed the cut off date for this months intrest. so in feb i should get a nice big sum according to the bank manager. whoppie do. it doesnt matter that the amount (only£90 i know) should be sat in my ISA now gainging intrest instead it wont be in my account for another month. so now i can wait till the end of feb and see if they !!!! it up again!

its now the end of feb and my intrest has been paid. and guess what it kinda looks like the £86 intrest they owed me was possbily put into my account at the end of jan when the bank manger said it would go in at the end of feb. so much for the big nice lump sum ive actually got £63 intrest on a total of approx £21,600. presuming thats correct? anyone? last month i received intrest of around £138. presuming that included the missing £86 the rest of the intrest was £52 thats for 3 weeks of intrest as the money didnt transfer in until the 7th of june so £52 is a months intrest less 7 days. a full months intrest is around £63. any opinions lol either way im gonna have to ring on monday to double check this.oneday it might get sorted. god help us when it comes to transfering it out

ElusiveLucy

3 months down the line and after 8 or so phone calls to Nat West, I have finally got my ICEsave cash ISA money all in the same account and had interest added to it.

Bearing in mind I had £25k in there and they were supposed to pay interest on it (including the bonus) since 16th December, I have had a total of £175 in interest. I'm not sure whether that is to the end of Feb or to 10th March when they creditted it. It sounds a little on the low side to me, but I am not sure what the rates have been during that period. Can anyone advise? I'm also not sure whether their calculation includes interest on the interest that should have been paid back at he end of Dec and Jan, but I have lost the will to chase this even further.

I can't believe that it has taken over 5 months since the ICEsave problems to get my money back into an interest earning account. I have been extremely unimpressed with the service Nat West have provided in the last 3 months. :mad: