Transferring monies from NatWest

alkip

I've just set up a first direct e-savings account and I want to transfer some money from my Natwest current account. I'm going to do a SO for a regular amount but I also want to transfer £1k in bulk, after I've trialed it with £10 or so first, and I've just been informed it'll cost me £28 as it's not going into another Natwest account.

Is this normal?

I'm ordereding a paying book from FD, would I be better waiting until I get this and then paying the lump sum, again after trialling, via cheque?

grumbler

alkip wrote:

... I've just been informed it'll cost me £28 as it's not going into another Natwest account....Is this normal?

No, it is not. I think this is some kind of misunderstanding. Even an urgent same day transfer to other bank (CHAPS) costs £23 (Rates and charges summary). BACS transfers should be free.

Zwicky

alkip wrote:

I've just set up a first direct e-savings account and I want to transfer some money from my Natwest current account. I'm going to do a SO for a regular amount but I also want to transfer £1k in bulk, after I've trialed it with £10 or so first, and I've just been informed it'll cost me £28 as it's not going into another Natwest account.

I have a NatWest account and I transferred a large sum by CHAPS today for same day delivery at a cost of £23. I do not know of any transfer which would be charged at £28. I suggest you go back to the bank and make sure they have understood what you are trying to do.

Do you have a NatWest online facility? This is free and will enable you to view your existing accounts online and make transfers to other banks at no charge without contacting your branch. I think there is an online transaction limit of £10,000.

alkip

Thanks grumbler and Zwicky, I rang Natwest this morning and the guy I spoke to, who seemed sensible enough, definitely said £28 anyhow I'll nip into my local branch tomorrow to check and will also ask about BACS transfer.

I don't have Natwest online facility but I'll set one up as it sounds like it could be very useful.

Thanks again.

Creditcardkid

I use the Natwest online facility and I use the payment menu. Set up a payment to First Direct and pay whatever I like. Most I have done is £2000 but worked fine.