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

FluffityBunny

I found the whole online application process very easy, It was active on my online abnking within 2 working days and I have now trfd my yearly allowance into it from my E-savings

digivate

FluffityBunny wrote: »

I found the whole online application process very easy, It was active on my online abnking within 2 working days and I have now trfd my yearly allowance into it from my E-savings

Yeah, good for you, but you've not quite understood the point I made in my initial post ... if you're NOT an existing Natwest customer the process isn't very slick annd streamlined.

You talk about the account being active within 2 days so you're clearly an existing customer. This means that you don't have the same issues involved in applying for a savings account at the same time as the ISA, and making an initial deposit by cheque.

littlesnuggy

I'm not a NatWest customer and am trying to open the e-ISA last night. I found the online application process awful, think I filled in the forms about 5 times because I initially tried to do the ISA form before doing the e-savings one, and of course didn't have a NatWest account number. I think I'm waiting for paperwork to arrive, but i can't quite remember how far I got! They do seem to have made things stupidly complicated and unclear.

Sebby*

gemmalouanna wrote: »

Just started the application for Natwest e-ISA but sounds like some of you are finding it hard work so I will keep my fingers crossed.

Can you open the ISA with just transfer from another ISA or do I need to add funds as it asks how much and freqency of deposit - only I was hoping to transfer into Natwest and open another ISA for this years allowance.

Thanks

Yes you can. I called them yesterday - you need to just say you'll pay £1 to open the account but never actually do that. Once you get the paperwork, send it back, then complete an ISA transfer form. I think a covering letter with the transfer form may be a good idea as NatWest seem anything but capable.

GregH

I posted my applications for both an online saver, as i'm not a Natwest customer, and an E-ISA yesterday.

I too was unsure of what to do about filling in the E-ISA form with regards to interest payments, how to transfer from another ISA and the initial £1 to open the account.

I spoke to a very helpful chap on the telephone who told me;

The interest payment part leave blank and Natwest will asume you want the interest paid into the E-ISA.

The initial £1 doesn't matter if you are doing an ISA transfer, he told me to download and fill in the online transfer from and return it with my application form. Natwest will request the £1 later on but you don't have to send it in if you are transfering a balance.

I agree with you that the amount of paperwork sent out is excessive, 2 applications, 2 self addressed envelopes and 2 lots of terms conditions etc

Hopefully it will go smoothly from here!

monkeymaster

digivate wrote: »

You talk about the account being active within 2 days so you're clearly an existing customer. This means that you don't have the same issues involved in applying for a savings account at the same time as the ISA, and making an initial deposit by cheque.

I'm an existing customer and despite applying Monday it still isn't opened. Customer Services have been useless. Meanwhile I have £3,600 sat in my current account which they will be creaming the interest off. Not impressed at all and seriously considering taking my business elsewhere. Be warned.

gemmalouanna

Sebby* wrote: »

Yes you can. I called them yesterday - you need to just say you'll pay £1 to open the account but never actually do that. Once you get the paperwork, send it back, then complete an ISA transfer form. I think a covering letter with the transfer form may be a good idea as NatWest seem anything but capable.

Thanks for the info - I said in the application that I would deposit £1 by cheque but I won't I will just complete the transfer form WHEN I receive paperwork.

lasci

I found the process confusing too, so I stopped halfway through. I do not currently bank with Natwest. I applied for the ISA transfer into the e-ISA, however I got confused when it wouldn't let me go any further unless I deposited money or set up regular saving amounts, but I have already transferred my full allowance into my old ISA, so surely I cannot transfer anything else into the e-ISA????

Has anyone had more luck going directly into the branch to set this up?

Cheers!

gemmalouanna

lasci wrote: »

I found the process confusing too, so I stopped halfway through. I do not currently bank with Natwest. I applied for the ISA transfer into the e-ISA, however I got confused when it wouldn't let me go any further unless I deposited money or set up regular saving amounts, but I have already transferred my full allowance into my old ISA, so surely I cannot transfer anything else into the e-ISA????

Has anyone had more luck going directly into the branch to set this up?

Cheers!

Have you put your full allowance into your old ISA for this tax year?

Others on here have said to go through the application saying that you will send deposit of £1 by cheque then when paperwork comes through just return the transfer from relating to old ISA and don't return deposit slip/cheque - thats what I plan to do.

lasci

Yes put my allowance in for this year into my old ISA. Now want to transfer it to a better rate of interest as mine has gone down to 0.5% - I read about the sending of the deposit by cheque, but wasn't sure what happened if they actually want it as I cannot even put another £1 into my ISA. Might just go through with the application anyway and see what happens, it seems that since it is an e-ISA I cannot go into the branch anyway so may we well get on with the online one. Will post if I manage to apply successfully!