Natwest - Regular Saver account

mememomo

I have some questions about Natwest - Regular Saver account. hopefully someone can answer. If I put £100 deposit per month by standing order :

1) Once open this account, what will I get from the bank (eg: welcome package or a letter shows the account start date,expired date,interest rate,standing order date) ?

2) How often will I receive a statement for this account ?

3) Upon maturity the Regular Saver account will be converted to an Instant Access Reserve account - will the bank sent a letter to notify me ?

4) For this Instant Access Reserve account , Do I need to put £100 deposit
(as same as Regular saver account) per month ? OR once converted to this Instant account, no money put into this Instant access reserve account is also ok ?


Thanks and regards

ctdctd

Don't think they have a regular saver you can open at the moment?

I got a printout of the account number when I opened mine in branch.
I manage it online only - don't think I've had any other paperwork from them.

HTH

mememomo

Anyone can give me advise?

Upon maturity the Regular Saver account will be converted to an Instant Access Reserve account - will the bank sent a letter to notify me ?

For this Instant Access Reserve account , Do I need to put deposit
(as same as Regular saver account) per month ? OR once converted to this Instant account, no money put into this Instant access reserve account is also ok ?

MarkFromCornwall

mememomo wrote: »

I have some questions about Natwest - Regular Saver account. hopefully someone can answer. If I put £100 deposit per month by standing order :

1) Once open this account, what will I get from the bank (eg: welcome package or a letter shows the account start date,expired date,interest rate,standing order date) ?

2) How often will I receive a statement for this account ?


Thanks and regards

1) When I opened one in July I got a letter giving the account number and sort code but none of the other details you ask about.

2) I have not received any paper statements but I can check my balance online (their online banking is better than average).

I hope this helps.
Mark.

kingmonkey

I receive paper statements but I think online you can opt not to receive them.

Put the date of maturity in your calender or use the Email alert feature on this website and transfer the money out of the Instant Reserve Account as the interest will be sooo pants.

rb10

mememomo wrote: »

For this Instant Access Reserve account , Do I need to put deposit
(as same as Regular saver account) per month ? OR once converted to this Instant account, no money put into this Instant access reserve account is also ok ?

The T&Cs of the new account apply from maturity.

This means you don't have to put any money in, but you also will receive a new interest rate. This is 0.20% or 0.50%. You can get over 3% elsewhere.

mememomo

After 12 months, Do I need to cancel the standing order?