NatWest e-ISA not allowing contribution over £3,600 for 2010/11 tax year!

BarryPseudonym

I was going to ask the same thing actually - it seems pointless to switch when the rate is still pretty good...but is it likely to fall anytime soon? Anyone had any recent experience with this sort of thing (I'm new to switching yearly for the best rates)?

I suppose they're under no obligation to keep it high - so it could get cut right down, but it does seem like my best option right now...

WhiteSpace

crumpetman wrote: »

Can anyone confirm the interest rate on the natwest eISA? I opened mine just before 14 May 2009 and I have over £10k so it looks like it should be 3.01%. I think it was 3.51% when I opened it.

Yes, that looks correct, 3.01% AER. It was 3.51%, but they introduced a higher tier (£30K+) and reduced the rates on the lower tiers at some point last year. Then, on 11/12/2009 they reduced the rates again, across the board.

Just wondering whether to put this years allowance in there or wait in case it drops further. 3.01% seems a bit better than the next best "easy access" cash ISA.

3.01% is still very competitive! I would certainly put it in there and if you later find a better account, transfer the whole lot over at that stage.

lazysaver_2

I am pleased there are others that think Natwest is still offering a good rate to those that took out ISA's before May.

I was about to transfer my old ISA's into Nationwide at 2.75% but just called Natwest and they said that I am on 2.72% (lower tier).

I think I'll move my old ISA's into Natwest (can be done online apparently) and I'll just watch the rate along with everyone else and move it all again if it drops - not worth the effort of moving everything to Nationwide for the extra 0.03% on my pittance of savings, and I can't find much else about that allows transfers.

Have to say that I have found Natwest to be most helpful whether on the chat service or on the phone.

suga85

pleased to say issue has been resolved for me all my money has now been returned to my isa so i am very happy now have to say though natwest were very helpful and rang me twice about it yesterday. i know was their fault anyway but good customer service i have to say!!!

topgearfan08

my money has been returned too thankfully, but marked as credited the 8th, not the 6th as originally done...

Hopefully they will still backdate the interest to the 6th...?

suga85

yes mine is credited the 8th too! im hoping they will backdate it, says on the website they will but just have wait and see i suppose!! they should do really seein as it was a problem on their side

cheekydollarJ

suga85 wrote: »

yes mine is credited the 8th too! im hoping they will backdate it, says on the website they will but just have wait and see i suppose!! they should do really seein as it was a problem on their side

where does it say on the website? got a link?

jonny2510

So I'll take it from all the posts of people subscribing to their NatWest e-ISAs again this year, that there is no (known) bonus due to expire on the (pre 14 May 09) e-ISAs, which may case the rates to plummet in near future?

Unlike others I want to use this for dribs and drabs of savings as I can afford them (rather than the full £5,100 allowance). As the rate is currently competitive, and all my previous years ISA allowances are in there too, I would really like to avoid the hassle of switching/opening YET ANOTHER account!

crumpetman

I cannot remember there being any 12 month bonus so the rate could drop anytime. It is unusual for the rate to stay competitive after 12 months though, I have been changing providers every year.

suga85

it said it yesterday on that bit where says help 24x7 i clicked on it and opened another box wiv sum info sayin will be credited wiv lost money 2day and interest backdated not sayin it now though