Transfer to natwest e-ISA

Kavanne

gemmalouanna wrote: »

Just started the online Natwest e-ISA application to transfer my Halifax ISA - what did others do regarding the regular savings box?

You can't leave it as zero, so if I put £1 with frequency yearly does this mean the ISA will open but then just don't send money? Has anyone actually has the process completed when they have not added new funds other than the transfer?

Thanks

You can leave the reg saving box OR the initial deposit as 0. Not both. So put £1.00 in the initial deposit box and on the next page it will ask you if you want to make that deposit by 'cheque/cash'. Select YES. This will enclose a deposit slip in with your application which you DO NOT RETURN. Thus allowing you to open the account with a £0 balance.

For reg saving you must leave the amount as 0.00 and 'please select' in the frequency box (ie: do not select any of the frequencies)

if you do both the above the application will allow you to proceed.

WhiteSpace

gemmalouanna wrote: »

Just started the online Natwest e-ISA application to transfer my Halifax ISA - what did others do regarding the regular savings box?

You can't leave it as zero, so if I put £1 with frequency yearly does this mean the ISA will open but then just don't send money?

I did not enter anything for the "regular savings box". This is optional, in that you must either specify an initial deposit OR a regular savings amount (OR both).

So, I (as others have done and the bank staff actually suggest you to do) specified £1 for the initial deposit. And not actually send the payment. You will then get sent an ISA Declaration in the post and on this you can correct this and return it (which I did, but kinda wonder whether it is actually necessary?!). I also corrected the tax year in which I was contributing since during the application process it was a bit misleading, stating "Only change this field if you wish to open a Cash ISA in the following tax year." Well, I wanted to open it in the current tax year and transfer in. However, the ISA Declaration that I received was far more clear, stating that I was 'contributing ' in the current tax year, which I was clearly not. But this was easy to correct on the ISA declaration. It took just over 2 weeks for my correct ISA declaration to come back in the post. (You don't have to wait for this before doing your transfer.)

Once the account is actually opened (showing zero balance) you can then initiate the transfer process by completing a transfer form.

gemmalouanna

Kavanne wrote: »

You can leave the reg saving box OR the initial deposit as 0. Not both. So put £1.00 in the initial deposit box and on the next page it will ask you if you want to make that deposit by 'cheque/cash'. Select YES. This will enclose a deposit slip in with your application which you DO NOT RETURN. Thus allowing you to open the account with a £0 balance.

For reg saving you must leave the amount as 0.00 and 'please select' in the frequency box (ie: do not select any of the frequencies)

if you do both the above the application will allow you to proceed.

Thats lucky I finished the application about 10mins before you posted and I am pretty sure I have done what you have said

So the ISA does open ok even if I do not return the deposit slip that will arrive? Then I can just transfer existing ISA.

Thanks for the info

Kavanne

gemmalouanna wrote: »

So the ISA does open ok even if I do not return the deposit slip that will arrive? Then I can just transfer existing ISA.

Definitely, just shred the deposit slip and only send back the actual application

alanwsg

Just to let people know that I opened a NatWest E-ISA earlier this month and sent off the paperwork to transfer the balance from my NatWest Cash-ISA into it.

The dosh appeared today, so that took about 10 days from posting the form to transfer happening.

System

Very frustrated by NatWest.

I'm completely new to them so had to open a basic savings account at the same time as the E-ISA. About 10 days ago I received the application forms for both accounts for signature together with pre-paid envelopes for ID. I returned everything to them (including bank statements and other ID etc). I was then going to proceed separately with the transfer-in.

They now claim to have lost my ID and have blamed Royal Mail. They have suggested that lots of other new customers have experienced the same thing! I have been advised to submit a new application again.

I now don't know whether to hold off and see if it's just their ineptitude in processing new applications or whether to submit [two] completely new applications again. I'm also worried about ID 'going missing' in the post - ID theft?!

Clearly the answer is to go into the branch to open the account if possible.

WhiteSpace

light123 wrote: »

They now claim to have lost my...

They lost mine too... although slight variation... they lost my transfer request (with my original Icesave reinstatement cert) which I had processed in person, in branch and the documents were then being transferred by internal mail. (I have been a customer of NatWest for many years, but to be honest the service I've had in recent months has been shocking!)

http://forums.moneysavingexpert.com/showthread.html?t=1614935

I came away with only verbal assurances (despite asking for some kind of 'bank stamp' on the photocopies they made - they said they couldn't) - MISTAKE!

So, even if you are dealing with them face to face, always make sure you get a written receipt, the full name of the person you are dealing with and hey, why not take a snap if you have a camera phone (can you do that?)!

moneysavingobsessive

How long did it take from application to the e-isa appearing? I applied online on saturday but it hasn't appeared yet, so I am getting a bit worried. (I am an existing account holder so thought that it would be instant).

Originally NatWest suggested and ISA-plus, which they opened for this tax year but I have not funded. My plan was to transfer everything into my e-ISA, use that for this tax year too and close the ISA plus without funding it. That doesn't break any rules does it?!

thanks,

WhiteSpace

moneysavingobsessive wrote: »

How long did it take from application to the e-isa appearing? I applied online on saturday but it hasn't appeared yet, so I am getting a bit worried. (I am an existing account holder so thought that it would be instant).

For existing NatWest customers some have certainly reported that the e-ISA account appeared in their online banking the next day (working day?). However, I thought mine took a bit longer?

If you phone them (there is a dedicated e-ISA phone number somewhere) they should be able to tell you the progress.

When you applied online did you get told your new account number at that stage?

moneysavingobsessive wrote: »

Originally NatWest suggested and ISA-plus, which they opened for this tax year but I have not funded. My plan was to transfer everything into my e-ISA, use that for this tax year too and close the ISA plus without funding it. That doesn't break any rules does it?!

Just speculation, but... Opening two ISAs with the same bank may have thrown up some internal warning bells and consequently may have delayed things. May be? AFAIK this doesn't break any rules. Providing you don't contribute more than £3600 across all your cash ISAs you should be fine.

PotatoPotato

alanwsg wrote: »

Just to let people know that I opened a NatWest E-ISA earlier this month and sent off the paperwork to transfer the balance from my NatWest Cash-ISA into it.

The dosh appeared today, so that took about 10 days from posting the form to transfer happening.

Hey Alanwsg, what address did you post your transfer form? or did you hand it to a branch?