Transfer to natwest e-ISA

The_Enforcer

midget565 wrote: »

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.

That should apply to me also (7th May and 20th May respective dates). I haven't transferred any money in yet. Are they going to send you anything in writing?

musehead

I've had £17.5k in my e-ISA since 11th May and have received £26.50 in interest. This seems to equate to an interest rate of about 3.1%

bagsacash

wouldn't commit to saying what action would be taken just that someone will call back within 48 hours.

Has anyone had their call back from Natwest regarding the incorrect interest payment on their eISA. I haven't yet.

dan_essex

i've spoken to the helpdesk and they said they couldn't access my account because i hadn't activated my card reader...is this right?

dazeruk

musehead wrote: »

I've had £17.5k in my e-ISA since 11th May and have received £26.50 in interest. This seems to equate to an interest rate of about 3.1%

Was the transfer done by cheque? That seems to be interest at 3.51% from the 14th May. Mine was done by BACS, money hit the account on the 21st and earnt interest from the 22nd.

It looks like BACS transfers earn interest from the day after the money hits the account, and cheque deposits 3 days (I presume for clearing).

bagsacash

i've spoken to the helpdesk and they said they couldn't access my account because i hadn't activated my card reader...is this right?

I haven't even had a card reader. One thing is certain when talking with Natwest staff remember they are by and large lazzy and liars so press them as much as you can untill you are satisfied you have the right answer. Then phone up again and go through the process again to varify.

djm1972

It has now been a month since sending off my transfer form for Natwest to Natwest transfer and it has still not happened.

bagsacash

Right I've been on the Nastwest after phoning 4 different numbers and being passed to ywo different de[artment.

The woman didn't seem to have a clue what was going on and she wanted to phone me back, but I reminded her I've been here before and I want this sorted out now.

This is what they told me. My transfer was credited into my account on the 8 May and because it was by cheque then the funds would not earn interest untill the cheque had cleared which would be three working days. So my tranfer did't start earming interest untill the 12 May. Now that works out ok

dazeruk

bagsacash wrote: »

This is what they told me. My transfer was credited into my account on the 8 May and because it was by cheque then the funds would not earn interest untill the cheque had cleared which would be three working days. So my tranfer did't start earming interest untill the 12 May. Now that works out ok

That agrees with what I concluded in post #276.

tbr

Hi,
I opened my e isa on May 1st. When I got my first interest payment on the 29th May it didn't seem enough. When I checked with Natwest I was told the discrepency was because my interest rate from the 1st til the 14th was 3.51% and then afterwards it dropped to the new rate of 2.50%. I was under the impression that customers who opened there accounts before the interest rate change were to continue on the old rate. Have I just got it wrong or are they telling me porkies?