Transfer to natwest e-ISA

supersaver09

PotatoPotato wrote: »

OMG! I got my money!!! wooooot!
I got a bank statement from barclays saying my account was closed on 1st may.
Money was in limbo for 12 days, I feel so relieved that i got it today. :T

Same here.......the money was finally in my account on Monday.
At long last!!!!!:T

djm1972

Over a week now since I sent off my transfer form for a NatWest Cash ISA > NatWest e-ISA transfer and still no movement. :rolleyes:

I know they quote 10 days, but that's for an intra-institution transfer, surely a NatWest > NatWest account transfer should simply involve somebody pressing a few buttons.

stopthepidgeon

It seems like many others here, we are experiencing long delays on transferring into our existing NatWest e-isa.
We applied on 15 April; received written notification that Nationwide had sent cheque to NatWest on 5 May; but still no sign of the money in our NatWest a/c.

Has anyone any tips on how best to chase this? Also, anyone know whether NatWest will start paying interest from the date they received the cheque, or is it in a black hole until cleared?

On a separate point, we also have a small amount in a NatWest cash isa, paying a poor rate. When we went into our branch to organise the Nationwide transfer, we also asked if we could transfer our cash isa to the e-isa, and were told by the branch financial advisor that NatWest would not allow this. Reading some of the posts on here, it seems that is not so.
Has anyone done this?

DX-SFX

djm1972 wrote: »

Did your NatWest > NatWest transfer happen "instantly" as far as you could tell from online banking, or was your money in limbo for any period?

Did the transfer include accumulated but unpaid interest?

I asked in my covering letter for the original ISA to be closed upon completion of the transfer. Whether or not that will happen we'll see...

The new account showed up on-line fairly quickly. It was the transfer balance from previous years that took a little while between giving instruction and it actually happening. Interest on the old balance was calculated and added up to the date the money went out of the old account. There was no gap between the old account showing zero and the new account showing the money so presumably no break in interest being earned. This may simply be the advantage of going from one Natwest ISA to another where the transfer is done electronically rather than going through all the posted cheque nonsense.

DX-SFX

stopthepidgeon wrote: »

On a separate point, we also have a small amount in a NatWest cash isa, paying a poor rate. When we went into our branch to organise the Nationwide transfer, we also asked if we could transfer our cash isa to the e-isa, and were told by the branch financial advisor that NatWest would not allow this. Reading some of the posts on here, it seems that is not so.
Has anyone done this?

Yes. I just did exactly that.

Unless you've got a fixed term rule on the existing account, you can transfer it where and when you like. Next time, tell him/her that if they won't let you transfer to their E-ISA, you're quite happy to transfer it to another provider entirely along with all your other accounts. You see what happens. It'll be like magic.

djm1972

DX-SFX wrote: »

The new account showed up on-line fairly quickly. It was the transfer balance from previous years that took a little while between giving instruction and it actually happening. Interest on the old balance was calculated and added up to the date the money went out of the old account. There was no gap between the old account showing zero and the new account showing the money so presumably no break in interest being earned. This may simply be the advantage of going from one Natwest ISA to another where the transfer is done electronically rather than going through all the posted cheque nonsense.

Cheers!

Same here - my new e-ISA appeared in online banking pretty quickly also; but you may have just seen my post above - it's been 9 days now since I sent my transfer form off and still waiting for the transfer to happen.

I guess they're inundated as is normally the case when a single provider comes in with a market leading rate.

PotatoPotato

alared wrote: »

I`m glad you`re sorted out but 12 days lost of interest while they a*se about is an absolute disgrace.:mad::mad::mad:

yeah, even more annoying is that the state also shows interest for the month was paid AFTER the account was closed :rolleyes:

PotatoPotato

djm1972 wrote: »

Cheers!

Same here - my new e-ISA appeared in online banking pretty quickly also; but you may have just seen my post above - it's been 9 days now since I sent my transfer form off and still waiting for the transfer to happen.

I guess they're inundated as is normally the case when a single provider comes in with a market leading rate.

Hey its only been 9 days, i sent my transfer form off on 6th april and it only arrived in my bank account today :rotfl:

You might be lucky if yours get processed quickly because its probably towards the end of the processing pile up now

EdGasket

Just to let you know, I have successfully managed to transfer all of my NatWest 'Cash ISA' to a newly-opened NatWest 'E-ISA' in order to get the better rate. The whole process took just under a month though. Basically you do a transfer as follows:

1) Apply online to open the account; enter £1 and say pay by cheque but don't send anything. This is just to get the account open.
2) They send you a form to sign plus some bumf to read.
3) About 2.5 weeks later the account should be open and you can get the number from online banking or by ringing up I guess.
4) Send off an ISA Transfer form to NatWest for them to move the money from Cash ISA to E-ISA. You cannot do this yourself without losing ISA status on the funds transferred. This takes about another week. Note: there is nowhere on the ISA transfer form to say where the money should be going so write it on the form somewhere and also in a covering letter.

Along the way I got a statement in the post for my E-ISA showing 0 opening balance, 0 transactions, and 0 closing balance lol !

SuiDreams

I feel like giving up with Natwest, its been quite a while since I sent my transfer forms to them and they haven't been recieved by my other provider, I have tried phoning natwest to check on the status of the transfer forms, but customer services kepp transferring me to their internal call center instead.