RBS Or Natwest Cash ISA's Question.

benoit

This is maybe a silly question too sorrylol Does anyone know if a instant cash ISA with either RBS or Natwest banks comes with a cashcard ? I just don't want to many cards to stop me getting them mixed up before i apply.

Masomnia

It doesn't I'm afraid.

May I ask why you've chosen this account? The rate is pretty terrible.

financial_illiterate

If you're desperate for a Natwest account, the E-Isa is a better bet; harder to physically withdraw your money too, if thats your motivation behind the cashcard question!

Other banks have slightly better rates though, and presumably always will.

benoit

Not really my own choice, i spoke to the bank today about something else and the bank said the one i had already was not the best one. They said cash ISA was better. This is all new to me really because in the past i only had very basic bank accounts. I had a really old First Reserve from Natwest that i had not used for as long as i can remember which was why they said it was not a very good account and asked if i would consider a cash ISA instead. Should i deline then?

financial_illiterate

Depends if you're looking to save money or not!

Basically, if you're looking to save an amount before April next year of up to £3600 then an ISA makes sense as you don't pay tax on the interest.

If you're going to pick a Natwest ISA, then you might as well do an E-ISA rather than a Cash ISA because the E-ISA has a better interest rate. You can also manage it yourself online (not sure if you can do that with a cash isa too).

If you're not looking to save regularly or much at all, then you might as well carry on with your existing arrangements.

IsaCream_Man

financial_illiterate wrote: »

If you're desperate for a Natwest account, the E-Isa is a better bet; harder to physically withdraw your money too, if thats your motivation behind the cashcard question!

Other banks have slightly better rates though, and presumably always will.

Can you say what method is actually used to take money out of a NatWest e-ISA? I know you can transfer back to the e-Savings account you have to set up, but what then? I believe you have to get the Card-Reader and set up your ordinary bank account. There seems no simple guide to this process anywhere.

financial_illiterate

I'd imagine if you only have e-accounts with Natwest then the only option would be to get the card reader and transfer it to your current account (or at least an account with a cashcard).

I'm fairly sure you don't have to set up an e-savings account; you could set up a branch account with a cashcard purely for accessing your e-money?

Personally, I'd transfer mine to my current account (with Natwest) but appreciate thats not for everyone!

IsaCream_Man

financial_illiterate wrote: »

I'd imagine if you only have e-accounts with Natwest then the only option would be to get the card reader and transfer it to your current account (or at least an account with a cashcard).

I'm fairly sure you don't have to set up an e-savings account; you could set up a branch account with a cashcard purely for accessing your e-money?

Personally, I'd transfer mine to my current account (with Natwest) but appreciate thats not for everyone!

In fact I do have an e-Savings with NatWest. My understanding about the e-ISA was that you had to have an e-Savings account in order for them to divert any over-subscribed money. But maybe that doesn't apply to existing NatWest customers. I only have an e-ISA and an e-Savings with NatWest.

I can see it's going to be a fiddle to withdraw money from this e-ISA to my non-NatWest current account even with this CardReader thing.