Transfer to natwest e-ISA

digivate

You have to allow up to 30 days for a transfer to happen. If it's only been 2 or 3 weeks since you sent of the forms then you've nothing to worry about yet.

My old ISA was transferred from Abbey to Natwest after 3 weeks. The Abbey account was closed and the money appeared in my Natwest ISA 3 days later.

simpav

I got my forms for the online application on 9th May but only got the forms for the associated account, which you have to have to open the isa, the other day.

Am I now going to get the lower rate on the isa (intended to invest enough to get the higher rate before it changed)

Dustykitten

One of my Nationwide to Natwest transfers has now arrived (the smaller one)

wishiwasarichgirl

my story:
- opened Natwest E-ISA 15/04/09
- posted transfer forms 17/04/09 (had to go into a branch cos I was transferring from A&L and they have odd AC nos, the man said just to write the full number on and attach a statement or printout with the AC no on it as well, just to be on the safe side, as that is what they do if they do it in branch)
- A&L Isa closed 01/05/09
- NW E-ISA credited 12/05/09... not sure if interest will be backdated, not got round to checking yet.

overall I'm happy with Natwest, I used to have an ISA with them, and still have a current account there. I find their online site much better than A&L who constantly p1$$ me off.

barny_100

I received a letter yesterday from YBS informing me the transfer has been completed on their side so I expect to see the money credited in my e-ISA in the next working week, although the bank holiday may delay things slightly I guess.

Slow but steady seems to be Natwests process with these ISA's - considering their obvious popularity that seems like the best you could expect. Better than slow and chaotic!

digivate

simpav wrote: »

I got my forms for the online application on 9th May but only got the forms for the associated account, which you have to have to open the isa, the other day.

Am I now going to get the lower rate on the isa (intended to invest enough to get the higher rate before it changed)

No, it doesn't matter when you transfer the money. As long as you opened the account before the 15th you'll still get the 3.51% rate

stopthepidgeon

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? 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?

Update; the money made it to our account on 22 May, so complete timeline:
Account opened last year
Transfer forms completed in branch - 15 April
Written confirmation from Nationwide that cheque sent - 5 May
Money in account - 22 May

- more than 1 month overall, and more than 2 weeks to process a cheque from another bank into an already open account. Quite shabby, really.

blackaqua

Can anyone explain the isa rate change. I understand the eisa isn't rate fixed, so how come (not that i'm complaining) us old customers are on a higher rate. Is this likely to continue and for how long? Concerned because it could just be a temp ploy to stop people checking rates then drop it in a couple months back to the new rate.

GregH

GregH wrote: »

Just another story to add to the mountain!

Recieved a letter on the 12th May from Nationwide confirming account had been closed and funds sent to NatWest.
Today the funds were still not showing on my online banking, so i rang and enquired, apparently i was the third person to speak to the phone operator, today :rolleyes:, asking about transfers from Nationwide ISA's.
The funds have shown on there system and should be cleared by Friday. :rolleyes:
When i asked about back dating interest for the 8 days, i was told i would recieve it, guess i'll just have to wait and see.

Just a quick update on my original post.

Posted my ISA transfer form with my e-ISA and e-Saver applications around the 2nd week of April. The accounts were up and running by the end of April and i recieved my Nationwide ISA Closure confirmation on the 12th May.

The funds eventually arrived on Tuesday 26th May, not Friday 22nd as stated by the telephone adviser.

I think i have been treated reasonably ok, compared with some others on here, i now need to try and claim my missing interest!

Another question i have is, that whenever i have used a building society cheque before, the funds are available immediately. So why has it taken so long for my funds to be cleared in my e-ISA?!

Dustykitten

Greg I thought the same. when i went into the branch on the 19th they said my cheques were showing as having arrived but they still did not clear until the 22nd and 26th when they were both there on the 19th. from what the cashier told me the ir give them a certain amount of time for the process to complete and i feel they may make the most of that time ie they have the money but not assigned to us.