Anyone else finding the application for the Natwest e-ISA confusing?

Grashnak

I've not had any luck trying to give my money to natwest either. After seeing the rate here, went to open the account to be told I have to have another account first. So went into the branch who opened a current account and despite patiently explaining I will never use it but just wanted it to give them money into an e-isa wasted time trying to sell me a ton of other products. But I managed to get an account in the end - online banking details came through a few days later (with debit card I didn't want) & opened the e-Isa online.

Next came the transfer from Llyods, filled out the form gave it back to the branch. A week goes by without any response at all, so I call to confirm that the form is in progress, get transferred a couple of times & eventuly told no one can tell me if the form is being processed/queued or in a waste paper bin and to speak to Llyods to see if they have recieved it ! Great - so I need to call someone else to find out if they have done their job. Call Lloyds and get put in touch straight away with someone who does seem to know the process who confirm nothing has come from Natwest. I give up and wait another week, call Natwest again - no clue if the transfer form is in progress or in landfill, tell me to go to the branch. Go to the branch, no idea where form is - will contact the savings dept & get back to me by end of day..... that was yesterday.

So all in all, I'm not sure if I want Natwest anywhere near my money if the nearest I can get to find out what is happening is to call another bank. I'll give them another week and if they still are as clueless I'll stick where I am.

meggsy

meggsy wrote: »

Agree that the whole process was very confused even for existing customers. I put 1st May as the transfer date on two forms, the first transfer has now appeared in my account dated 12th plus interest up to the 6th when the account was closed, so waiting for the second transfer to show up now.

... and the second transfer has happened today, although the account was closed on the 9th May. All in one place now should I need to transfer again :rolleyes:

bob_hughes

I got an esavings account,got online banking.Attempted to open E-ISA.
Have to tick £1 online form won't let you do anything else.
Rang up yes I had to do this (all I wanted to do was to transfer 2 old ISAS to higher rate).
Got through E-ISA; printed off 2 transfer forms sent off as specified with covering letter just wanted to transfer already opened ISA this tax year with another provider.
Did this on 7th May so I thought I would get the 3.5%.
Form arrives wanting £1 to go back to local branch.
Rang up twice first adviser contact numbers wrong on letter, ISA section closed.
Rang today male suggests I cannot open E_ISA this way and have to go intobranch.
I'll do this tomorrow then into complaints and the ombudsperson.
No feedback on state of transfers., poorly trained staff who give contradictory advice.
Would not recommend NAT WEST to anybody.
Will advise if trip to branch sorts this out.Anybody know a source of wisdom at NATWEST to sort this out I'd be grateful.

lasci

Well I sent back my form over a month ago, and not heard anything since. I think I might give up, the interest rates have dropped and I doubt they will honour the fact that I applied before the change....back to the drawing board! :-)

sbrom1ss

I started the process at the beginning of April - E-savings account, then E-Isa accounts. My own E-Isa was opened before the 14th MAY CUT OFF DATE FOR 3.51%. My husband's, done at exactly the same time, wasn't opened till 18th May - after the rate had dropped. He has a large sum of money to transfer - which will be going elsewhere now. The system is appallingly drawn out - on purpose, I suspect, in order to give as few people as possible the higher "headline grabbing" rate. Any E-Isa opened after 14th May will be at the lower rate of 2.50% and NOT 3.51% as originally advertised. Complain to the Customer Relations Manager, NatWest, FREEPOST NAT 12685, London, WD6 1BR. I certainly have.

Sebby*

I was told that it's when you applied, not when the account is opened, so your husband should still get the 3.51%.

Steve_xx

Sebby* wrote: »

I was told that it's when you applied, not when the account is opened, so your husband should still get the 3.51%.

Clearly, their website does state that the rate applies from the opening of the account:

"Interest rates for customers who opened an e-ISA account on or before 14 May 2009"

CPfan

I rang the NatWest last week after seeing on their website that the rate had dropped. I was assured by the person I spoke to (who checked with her manager) that I would get the 3.51% because I'd applied on the 5th May. I'm worried now in case they just told me that to get me to proceed with my ISA application and open a branch account.

Sebby*

Steve_xx wrote: »

Clearly, their website does state that the rate applies from the opening of the account:

"Interest rates for customers who opened an e-ISA account on or before 14 May 2009"

I didn't say what their website states, I said what I was told.

I'd say it's much more likely to be when you applied anyway as it wouldn't be fair given the delays that are their fault.

marshall2k

I know reviving an older thread is often frowned upon but I think this applies to people that applied in April/May 2009.

I notice the interest rate tiers have changed for the e-ISA. If the changes apply, I am now in a lower tier. Does anyone know if this change applies to us?