NatWest won't allow Icesave ISA transfers to their eISA account!

zoebel

My wife applied to transfer her Icesave isa to Natwest in November when Natwest were offering a 2% bonus. The transfer failed. The bonus offer ended in December. We didn't bother putting the transfer through again until March, which as now gone through succesfully. Will she still get the 2% bonus, as she originally applied to transfer in November when the 2% bonus was on?

EileenH

zoebel wrote: »

My wife applied to transfer her Icesave isa to Natwest in November when Natwest were offering a 2% bonus. The transfer failed. The bonus offer ended in December. We didn't bother putting the transfer through again until March, which as now gone through succesfully. Will she still get the 2% bonus, as she originally applied to transfer in November when the 2% bonus was on?

The transfer request had to be made between 18th September and 9th November to get the extra 2% bonus. The bonus rate dropped to 1.76% on 10th November and was withdrawn on 18th December. Although I opened a cash ISA whilst the bonus rate was 1.76% I lost out as I wasn't able to transfer my money before 18th December. What was the reason for the transfer failing? If your wife requested the transfer through NatWest whilst the bonus rate was still available and it was NatWest's fault that it failed then she should still get the bonus but it looks like she may have lost out on the bonus. She needs to find out what rate she is actually getting as he may only be getting between 1% and 2% depending on the amount transferred and if that's the case then she should look at transferring over to their e-ISA for a better rate.

zoebel

Thanks. The reason for it failing was that Icesave had gone bust, and it was before the FSCS got involved and was therefore no fault of Natwest.

Sparkly

Not a very good experience with NatWest. I followed all the help here and the instructions on the Natwest website, including that Icesave customers should go to thier local branch - took a few hours off work to go there, but 2 different people there had no clue at all even about normal ISA transfers, and kept telling me to just post everything off and they couldn't process in the branch. I phoned Natwest who understood what I wanted to to but not sure how, and put me through to a call-centre where they kept repeating that I had to fill in 'a form' but were unable to understand the Icesave issue. I'm going to call the local branch tomorrow to see if anyone knows what to do, and failing that, try to cancel the NAtWest ISA, and post everything off to somoene who has a clue.

Kavanne

Sparkly wrote: »

Not a very good experience with NatWest. I followed all the help here and the instructions on the Natwest website, including that Icesave customers should go to thier local branch - took a few hours off work to go there, but 2 different people there had no clue at all even about normal ISA transfers, and kept telling me to just post everything off and they couldn't process in the branch. I phoned Natwest who understood what I wanted to to but not sure how, and put me through to a call-centre where they kept repeating that I had to fill in 'a form' but were unable to understand the Icesave issue. I'm going to call the local branch tomorrow to see if anyone knows what to do, and failing that, try to cancel the NAtWest ISA, and post everything off to somoene who has a clue.

From natwest.com:

If you want to transfer another cash ISA to us, once your e-ISA is open, complete the ISA Transfer form, print it, and send it to: Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester, M3 3AQ and we’ll arrange for the transfer to be completed.

Send the form, the cheque and the Icesave certificate all together to the above address. This applies for the standard Cash ISA and the e-ISA.