Transfer to natwest e-ISA

TuftyMatt

Well another week or so has gone by and still the Bradford and Bingley have had no contact from Natwest.

I spoke to both sides this morning and asked for them to talk things over which should have taken place around 11:30.

Both sides said they would call and let me know how it went but as yet none have!!

3 letters from Natwest to B/B + over 10 phone calls and still my money sits where I don't want it to be.

WhiteSpace

TuftyMatt wrote: »

Well another week or so has gone by and still the Bradford and Bingley have had no contact from Natwest.
:
3 letters from Natwest to B/B + over 10 phone calls and still my money sits where I don't want it to be.

Your money is still in Bradford and Bingley, earning interest I presume? Just wondering how far back you are hoping the interest will be back dated when your money eventually gets to NatWest, since it is still earning interest at B&B? From the date you initiated the transfer? Or 28 days after you initiated the transfer (since they say allow 28 days)? Or some other date?

Not that I doubt this, I think you should be compensated, just interested to know how. My brother used to work for NatWest some years ago and he says that the customer should always be compensated in such circumstances. However, he was most surprised by the letters I received from NatWest when they lost my first transfer request - effectively placing the onus back on the customer and containing wholly inaccurate information (and spelling mistakes) - a sign of the times perhaps?!

masonic

WhiteSpace wrote: »

Your money is still in Bradford and Bingley, earning interest I presume? Just wondering how far back you are hoping the interest will be back dated when your money eventually gets to NatWest, since it is still earning interest at B&B? From the date you initiated the transfer? Or 28 days after you initiated the transfer (since they say allow 28 days)? Or some other date?

When I complained to Natwest about the same issue, I had two incoming transfers, one of which was completed in a short time and the other one took about 3 months. Natwest agreed to backdate interest on the delayed transfer to the date the first transfer was received.

TuftyMatt

Well I would expect my interest to be paid from July 1st at the latest. May be lucky and get June 18th which is a month after my forms were handed in at my branch.

Latest is the two sides spoke on Friday and Natwest said they would send all details to B/B. Just off the phone with B/B and they still have not got them. Natwest said they were sent on Friday but would yet again re post today.

If no info by Friday then B/B will ask for paperwork to be faxed!!

TuftyMatt

Well at long last my money is in Natwest.

It went in on Thursday and yesterday morning I had a call to say my back dated interest will be paid in tomorrow from June 25th.

I had a letter last week which also mentioned compensation so if I dont here from the person who signed that this week then a phone call on Friday may be worth my while.

The_Enforcer

I had heard nothing since 10th June 2009, when I handed a transfer form in at the branch local to my workplace.

On Wednesday, I went back in there with a photocopy of the form that I had got them to date stamp. The cashier was most helpful. She took another copy of my copy and a copy of the other printout I had when I went to the branch local to my home to clarify what rate I would get (before actioning the transfer).

She said she would take ownership of the matter and would contact me on Monday to let me know the status of the transfer. She also said she would arrange for the interest to be backdated to a date 30 days after I handed over the form to them i.e. early July and would let me know how much that would be.

I reiterate my view that if you have a problem, it's far better to get to a branch if you can than fritter away valuable time and money on the telephone.

TE

theowl_2

Has anyone holding a Natwest e-isa account noticed that their interest payment is reducing each month? I opened this account before 14th May and according to their interest rate page the rate should still be the same, however for the past three months I am earning less interest.

Dustykitten

theowl - you need to look at the date your interest is paid - my August payment was 28th - so 28 days interest and my Jul one 31 so 31 days interest.

financial_illiterate

theowl wrote: »

Has anyone holding a Natwest e-isa account noticed that their interest payment is reducing each month? I opened this account before 14th May and according to their interest rate page the rate should still be the same, however for the past three months I am earning less interest.

According to mine, the interest for May was paid 29th, the interest for June was 30th (32 days), July 31st (31 days)and Aug 28th (early due to BH, 28 days).

You're not earning less interest, its just being calculated over less days. The time to complain is if it doesn't add up to 365 days at the end of a year

Kavanne

i can confirm financial illiterate and Dustykitten are correct. You