Transfer to natwest e-ISA

MONEYME

Didn't get in tonight in time to call Natwest but must say I'm very disappointed especially as it seems I'm not the only person this is happening to.

Will call tomorrow and post my response.

If anyone speaks to any useful people (if they exist at Natwest) or have any useful no.s please post on here!

Good luck all!

dan_essex

keep us posted moneyme, i am in london tomorrow and plan to call in a branch...probably the one outside the bank of england :rolleyes:

dial8d

Been checking daily, but no sign of any cash movement from my Egg ISA yet.

Not been 2 weeks since i dropped the forms into natwest yet though. I guess im just impatient ! :cool:

Dustykitten

I can't get my interest to work out. At least they have given me more than I was expecting. I must be doing something wrong.

Do I multiply the amount by 3.51 and then divide by 365 and multiply by the number of days since the money was deposited? Why is the interest paid on the 29th - and not the end of the month?

MONEYME

Dustykitten wrote: »

I can't get my interest to work out. At least they have given me more than I was expecting. I must be doing something wrong.

Do I multiply the amount by 3.51 and then divide by 365 and multiply by the number of days since the money was deposited? Why is the interest paid on the 29th - and not the end of the month?

The 31st was a Sunday (not a working day) so interest was paid on the 29th.

You multiply your amount x 3.51% then divide by 365 and multiply by no. of days funds on deposit.

dial8d

My initial payment went in on the 14th May, although my statement shows 15th, and then an interest payment on the 29th.

My initial calculation didnt add up, as I was calculating 15 days interest. It does calculate correctly at 14 days though, so i guess i didnt get interest for the 14th after all.

The formula i used was as someone posted earlier in this thread;

(balance * 3.51%) / 365 * 14

Dustykitten

Thanks, that is what I've done. I had 3 separate transfers go in on 3 separate dates, one from Natwest and 2 from Nationwide. I've worked out the interest for the 3 separate amounts and added them together but it is still not the same.

MONEYME

Ok I called 08453030299, said I should call 08456090001.
Spoke to Natalie on helpdesk who said as it's e-isa I need to speak to online helpdesk - she transferred me.
Spoke to Sarah who told me I was on 2.47% interest (weird - did they make this rate up?). Anway she agreed with me as it's been open for a while I should be on 3.51% but wouldn't commit to saying what action would be taken just that someone will call back within 48 hours.

I'll let you know when I hear back........

dazeruk

MONEYME wrote: »

Ok I called 08453030299, said I should call 08456090001.
Spoke to Natalie on helpdesk who said as it's e-isa I need to speak to online helpdesk - she transferred me.
Spoke to Sarah who told me I was on 2.47% interest (weird - did they make this rate up?). Anway she agreed with me as it's been open for a while I should be on 3.51% but wouldn't commit to saying what action would be taken just that someone will call back within 48 hours.

I'll let you know when I hear back........

2.50% is AER, 2.47% is the gross rate (which I think is the rate you get if you withdrawl the monthly interest and don't let it compound). These are the rates for £10,000+, £0-9,999 you get 2.25% AER and 2.23% gross.

The higher rate equivalents are 3.51% AER and 3.45% gross for £10,000+ and 3.25% AER and 3.20% gross.

midget565

I applied for my account with Natwest on the 1st May but it didn't get opened until the 27th May. I wanted to check Natwest would honour the rate of interest I applied at so spoke online to an advisor who asked me to ring 0800200400.

It turned out I was receiving the lower rate, but they changed this to reflect the interest rate when I applied. All in all, bit of hassle but problem solved.