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

Baldur

I've certainly always made account opening cheques (to various institutions) payable to myself, including the account number after my name, if one has been issued.

magga_2

Father_Christmas wrote: »

I'm also wondering what the answer is to this question. To clarify, we know we dont have to pay a cheque in for E-ISA but you do have to pay a cheque in to open the E-SAVINGS ... So who do you make cheque payable to? I assume my own name? (Nat West close at 8pm)

I'm also wondering this, send a cheque to open teh E-SAVINGS account or not? This is all really confusing!

Just_landed

My question is though, am I meant to send in a cheque (for £1) to open the account with this form? And if so, payable to who (just my name?!) I don't even want another savings account, I just want to transfer my ISA funds from crappy Nationwide who are paying me peanuts![/QUOTE]

I asked the same question to them, and was told send a cheque made out to yourself and right on the back which account it is to go to IE :-
E-SAVINGS a/c also if you have a reference number that too. You are only part there when that is done. I am 2 steps further on than you but there is light at the end of my tunnel. Mind you I started opening a TESCO savings A/C mid November 08 not up and running yet. :wall:

mikemoate

I didn't send a cheque back with the e-savings form, but transferred in once I got internet banking up and running.

digivate

I phoned up and was told just to make the cheque payable to myself. I wasn't told to write anything on the back of the cheque.

As I said in the opening post of this thread, the process is really poorly explained. The simplest thing for Natwest to do would be to put some simple guidelines onto the application form. Rather than just saying "send a cheque" it should say "send a cheque made payable to yourself" for instance.

I started this thread with the title "Anyone else finding the application for the Natwest e-ISA confusing?" ... looking at the response I think the answer is a resounding YES!

meggsy

Give them some feedback ... I did with a link to these threads

https://www.natwest.com/secure/globa...sonal_form.asp

alared

Most people don`t want the esaver but have to apply for it just to get the E ISA.
You would think a nearly bankrupt company would make it easy to rake in money.

Applied online for the esaver last saturday,got the hard copy today,signed and posted it this pm.
I never sent a cheque or was asked for ID.
I`m assuming they`ll send some kind of password or code to let me get online!
Hopefully,I`ll soon be able to log-in and start things moving.

monkeeboyUK

I opened the E-savings accounts around 20th March to so I could apply for the E-Isa - took two weeks to get the customer number and activation code through the post. Too slow. Also the £1 cheque for the E-savings account has disappeared at their end, even though the account is up and running. No instructions as to whether I should have sent the cheque with the application form or not.

I've just opened an E-Isa account, the site says it's opened immediately, but they don't say how long it takes to appear in the online banking, it doesn't say anything about sending out forms to me or how to make payments into the accounts.

I assume online transfers from my current account (elsewhere) will be ok for both accounts. For my peace of mind, I just wish this was mentioned in their guides.

I also have the experience of transferring my previous allowances into the e-isa, to look forward too!

delwboy

Nat West is an utter shambles. I tried to open an E-ISA with my Icesave ISA certificate. The confusion and incompetence shown by Nat West staff has been breathtaking. I have given up with them now and am looking elsewhere. I would leave Nat West well alone if I were you.

nozza76

I'm glad I'm not the only one who finds their whole application process completely confusing.
I apologise if this has already come up in this thread, had a quick read through and couldn't see it.

I'm trying to transfer the last two years ISA into a new ISA from Natwest. It stated somewhere there was no limit so assume it's OK to transfer multiple ISAs into a single account. I plan to open a new ISA for this years allowance somewhere else - not sure where yet.
I do already have a dormant Natwest current account so process is slightly easier than those above who are not Natwest customers, yet still a complete mess. Each time it obviously displays the same options as everyone else gets that you must deposit at least £1 to open the ISA. My husband and I have now tried 5 times each to open an e-ISA and have been unsuccessful in doing so.
I thought I understood ISAs but there maybe something I'm missing here. We phoned them up ans asked them to clarify the process for transferring an ISA and they just told us, "don't know why you think it's so complicated, just put £1 in we'll open your ISA".
So the question is, if I deposit £1 of new money into an ISA to open it, does that mean I can't subscribe to a new ISA anywhere else within this tax year? I asked the question of the chap at Natwest who just said he'd go and find someone who understood ISAs. Was slightly worried that after calling a bank to open a new ISA account, he then had to put us on hold for 30 minutes while he found someone who knew enough about ISAs to actually open one. After 30 minutes we gave up and hung up so who knows how long it took him.
Gemmalouanna, think will probably do as you suggest and tell them I'll send them a cheque for £1 then hopefully will get a transfer form in the meanwhile.
If I pay in £1 into a Natwest ISA to open it, does that mean I can pay in £3599 into a new ISA elsewhere all within the same tax year?