Transfer to natwest e-ISA

barny_100

EdGasket wrote: »

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 !

I got one for April 30th - May 8th or something like that just showing the £100 I used to open it. What a waste of paper and money, I hope they aren't going to post me a weekly statement!

willo65

barny_100 wrote: »

I got one for April 30th - May 8th or something like that just showing the £100 I used to open it. What a waste of paper and money, I hope they aren't going to post me a weekly statement!

The ISA statements tend to be yearly.

p00hsticks

barny_100 wrote: »

I got one for April 30th - May 8th or something like that just showing the £100 I used to open it. What a waste of paper and money, I hope they aren't going to post me a weekly statement!

I thought that the whole point of it being an 'E-' ISA was that it was all done online? I suspect that like willo65 says, what you've got is just the year end tax statement that I think they might have to give you on paper - it just looks a bit odd because you'd only just opened your account.

p00hsticks

stopthepidgeon wrote: »

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?

I'd give it a bit longer - I think it's still all done by sending cheques through the post.... For comparison, my letter from Nationwide was dated 27th April, and it was creditted to my NatWest e-ISA on 11th May.

Colin_London

Well my ISA transfer from A+L, where my old ISA account was closed on 7th May, has finally hit my e-ISA account overnight, showing as credited on 15th May.

I am a bit suspicious however because only yesterday I was on the phone to Natwest querying where the money was. They had nothing on their system at that time.

So, maybe phoning is a way to prompt some action if your money is currently in Limbo.

It was made clear to me that their terms state that the transfer can take up to 30 days from the point at which Natwest send the request to your old provider. In my case the request was sent out to A+L on 20th April, so they had another week. And apparently no, they won't give interest for the time your funds are in Limbo. Interest is only payable from the point it hits your new account.

willo65

Colin_London wrote: »

Well my ISA transfer from A+L, where my old ISA account was closed on 7th May, has finally hit my e-ISA account overnight, showing as credited on 15th May.

I am a bit suspicious however because only yesterday I was on the phone to Natwest querying where the money was. They had nothing on their system at that time.

So, maybe phoning is a way to prompt some action if your money is currently in Limbo.

It was made clear to me that their terms state that the transfer can take up to 30 days from the point at which Natwest send the request to your old provider. In my case the request was sent out to A+L on 20th April, so they had another week. And apparently no, they won't give interest for the time your funds are in Limbo. Interest is only payable from the point it hits your new account.

A&L will send the money by cheque and Natwest pay the cheque straight into your account so technically whilst cheque is in the post etc A&L still have your money.

Brunhilda2009

SuiDreams wrote: »

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.

I've had exactly the same problem and one more. In summary the following has happened to me since I tried to upgrade an ISA with Natwest on the 31st March:

-2 sets of paperwork have been lost in the post
-My local branch won't help me, even though they sent one set off of paperwork on my behalf to "speed" the transer
-I can't speak to customer services as my account isn't set up for telephone banking
-I can't set up telephone banking as for some reason my activation code gets cancelled in the process of it being sent to me by post and my call is cut off when I'm transferred to the automation machine to set up a pincode.
-For the past two weeks I've had no access to my 2008 ISA with them as my login details have been temporarily suspended whilst I get my telephone account set up.
-Today I find out that the E-ISA has dropped to 2%
-I now want to transfer my 2008 account to another ISA (not sure which) but can't do this as it's been suspended whilst I get my telephone banking set up...
-And I can't set that up as it won't let me setup a pincode and then deletes the activation code sent out to me



I'm soooo :mad: them....

Brunhilda

EdGasket

Just got my money transferred and I see NatWest have dropped the rates on E-ISA to 2.25% (up to 10K) and 2.5% (> 10K). Now I'm getting less than I was with the old Cash ISA (I had a Bonus of 1.78%) :eek:. What a waste of time it all is !

oily_rag

EdGasket wrote: »

Just got my money transferred and I see NatWest have dropped the rates on E-ISA to 2.25% (up to 10K) and 2.5% (> 10K). Now I'm getting less than I was with the old Cash ISA (I had a Bonus of 1.78%) :eek:. What a waste of time it all is !

Yup... I agree entirely. It seems the whole system is just designed to suck you in, screw you, and then grind you down into the dirt. I've decided not to bother with ISA's any more, they're just too frustrating and troublesome. I'll trade the extra 0.25% in tax free interest to retain my sanity.

masonic

EdGasket wrote: »

Just got my money transferred and I see NatWest have dropped the rates on E-ISA to 2.25% (up to 10K) and 2.5% (> 10K). Now I'm getting less than I was with the old Cash ISA (I had a Bonus of 1.78%) :eek:. What a waste of time it all is !

The rate's only been dropped for new accounts, apparently.