Transfer to natwest e-ISA

LeafyBarnet

Times Online:

Top-ups will receive interest at the new lower rates, NatWest said.

Do they really mean that or is it sloppy writing? A top-up which takes your total into the highest band won't achieve the interest of that band? There's nothing on the NatWest site yet.

Dustykitten

What happens if your monthly interest takes you into the next band I wonder?

WhiteSpace

IsaCream_Man wrote: »

And NatWest have got it wrong surely. The middle band should be £10,000 to £29,999.

Another bank discrepancy! (Yes, in writing £29,000 I guess they do mean 29 thousand and something - very sloppy)

LeafyBarnet wrote: »

A top-up which takes your total into the highest band won't achieve the interest of that band? There's nothing on the NatWest site yet.

That would be insane and overly complex IMO. So that's saying you'd only get the interest at the higher bands on money that was in your account at the time the new bands/rates were introduced?! Crazy. Although with the stupid things banks and financial institutions get up to these days, I wouldn't be entirely surprised!

TuftyMatt

Well after 3 months of messing around I have my account open and interest back dated. After asking I got £15 compensation for phone calls, asked for £50 total for time / stress etc but was told that is too much money!!

Anyway took the £15 to get of the phone and told them I will be off elsewhere asap.

Now I see the rates have come down where do people think we should go to get away from this cowboy outfit??

ultramagnetic_commuter

For an 'e' product I'm assuming I'll get an email telling me if my interest rate has dropped? Surely?!

WhiteSpace

ultramagnetic_commuter wrote: »

For an 'e' product I'm assuming I'll get an email telling me if my interest rate has dropped? Surely?!

You'd think, but I don't recall having EVER received an email from NatWest! (eISA, eSavings)

Neither the other way round... there does not seem to be any way to contact NatWest via email or any kind of online secure messaging service!? An online secure messaging service is much needed IMO. Have I missed it?

ultramagnetic_commuter

You haven't missed it. I tried to contact them the other day and even whilst logged in to online banking, there is no 'contact us' feature. I had to look for a paper statement to find the phone number!

The_Enforcer

boo-boo wrote: »

Isn't in better transferring to another ISA provider now?
Manchester BS offers 3.26% AER at the moment.
Does anyone now if charges are applicable if transferring from Natwest ISA to another bank?

It depends when you opened the e-ISA and what tier you are in. I just got mine through before the mid-May deadline and am now in the middle tier, so I should be getting 3.26% from now onwards. The drop of 0.25% or so, merely brings my account level with the best notice (the Manchester option above) or 1 year fixes that accept transfers in and it still beats Abbey's 3% no notice, so I'd have nothing to gain from moving to any of those. If you're getting one of the lower rates from NW then the switch to one of the above might be worthwhile (but n.b. that if you're in the lowest bracket with NW, you won't get 3% from Abbey, because that is also tiered).

Of course there are significantly higher 2 year + fixed rates, but those are risky options if rates start to rise within the next year as some are forecasting, leaving the customer stranded on an uncompetetive rate.

No charges from switching funds out of e-ISA, as it's a variable rate with no tie-ins.

TE

G_M

Isn't in better transferring to another ISA provider now?
Manchester BS offers 3.26% AER at the moment.

This product is being replaced by a lower rate one - last applications being accepted on 18th sept so be quick!

Canny_mal

Hi all

Slight change in direction for this thread but I have one of these Natwest E-ISA's and I'm wondering what options are open to me in terms of making a withdrawal?

I'm looking to pay a chunk off my mortgage next month (approx 10k) and I intend to get these funds from my Natwest E-ISa but the question is how can I make a withdrawal? What I'd like to do is transfer the funds into my current account (A+L) and then from there do a payment to my mortgage account but from looking on my internet banking page with Natwest this doesn't appear to be possible.

Surely this doesn't mean I have to go into a branch of Natwest and withdraw it as cash???

For a product which is called an "E" ISA their doesn't seem to be much you can do with it online except view your balance!!

Any suggestions?