Transfer to natwest e-ISA

MONEYME

My ISA transferred officially (on Natwest) on the 18th May. It seems to me that the interest I received for May does not match what I was expecting. Has anybody else noticed this or am I missing something?

dazeruk

MONEYME wrote: »

My ISA transferred officially (on Natwest) on the 18th May. It seems to me that the interest I received for May does not match what I was expecting. Has anybody else noticed this or am I missing something?

Are you missing a day?

My transfer of £19,742.55 arrived on the 21 May and the first interest payment of £14.93 was made on the 29th. Account was opened before the cut of date so I'm getting the 3.51% rate.

21-29 is 9 days but I make that only 8 days interest. I'm guessing the money was credited close of business on the 21st and that day doesn't count.

MONEYME

My transfer of £10,409.60 arrived on the 18 May and the first interest payment of £6.72 was made on the 29th. Account was opened before the cut of date so I should be getting 3.51% rate - I can't see that this is confirmed anywhere online.

I also added £700 on 21 May.

Ignoring the £700 I added I reckon I should be getting (10,409.60*3.51%/365*12) = £12.01 just for the initial deposit.

Are my calculations incorrect?

willo65

MONEYME wrote: »

My transfer of £10,409.60 arrived on the 18 May and the first interest payment of £6.72 was made on the 29th. Account was opened before the cut of date so I should be getting 3.51% rate - I can't see that this is confirmed anywhere online.

I also added £700 on 21 May.

Ignoring the £700 I added I reckon I should be getting (10,409.60*3.51%/365*12) = £12.01 just for the initial deposit.

Are my calculations incorrect?

Sounds like your on 2.51% which works out £6.44 on 9 days interest for your initial deposit.

bagsacash

My ISA transferred officially (on Natwest) on the 18th May. It seems to me that the interest I received for May does not match what I was expecting. Has anybody else noticed this or am I missing something?


Same here, my transfer of £9012 was on Friday 8 May and I recieved £13.56 interest on the 29 May. Not what I was expecting.

Are Natwest really that f**ked up

bagsacash

Yes I can confirm Natwest is f'd up

I phoned them on 0845 3018779, the woman brought up my account, when I asked about what interest my account was paying she said 2.25%. I reminded her that my account was opened on 8 May. She said she doesn't deal with online accounts and said you need to phone 0800 3280211. I asked would there be someone there, she said yes.

So I dial the number and am informed by the automated voice this number has now changed to 0845 6050789 which I phoned.

The operator who answered said sorry you have come thtrough to the wrong department and then redirected my call. After going through yet another menu pressing buttons I'm informed the office is not open this time of day.

I'm going to phone again to see what nonsense they come up with this time

Typical Natwest, they always pass you along to some closeed department.

Lazzy f's

bagsacash

I phoned them again and was told they would get back to me in 48 hours, since the eISA is a online account the woman said she don't have access to the account.:mad:

I take the online department use pen and paper rather than computers. No wonder Natwest are 70% owned by the tax payer, they are a bunch of lazzy f's.

Kavanne

bagsacash wrote: »

I phoned them again and was told they would get back to me in 48 hours, since the eISA is a online account the woman said she don't have access to the account.:mad:

I take the online department use pen and paper rather than computers. No wonder Natwest are 70% owned by the tax payer, they are a bunch of lazzy f's.

i could have told you your personal e-isa rate in 10 seconds flat.
you have gotten VERY unlucky with the people you've spoken to.

bagsacash

I've had a very consistant response from Natwest even when I've phoned on other matters.

I have even been transfered to RBS before now who then transfered me back to Natwest, who then advised I call into a branch, who themselves tried to have me make a phone call to Natwest.

I expect the rate to be 3.25% is that correct?

dan_essex

same here...i was expecting 3.25% and the interest paid so far is 2.25%. when was the cut off date for the bonus rate?

I opened up my account the 2nd week of may, with my first payment going in on the 11th.

on the plus side, my transfer only took 14 days and that's all in...but very confiused about the rate! Anyone got any advice?