Natwest stocks and share account cost me £430 in a week! I'm on the verge of crying!

musehead

Sounds you like shouldn't be investing in the stockmarket!

jxh885

wow, you really don't sound as if you should be investing in the stock market.

if you had read enough books, online articles, forums, the financial times and then played the markets with pretend money for practice (halifax fantasy trader) then you would realise that what happened to your investment is not in any way a surprising or odd, it's just how it works.

go do your research and then try again.
:beer:

malik999

jonj123 wrote: »

however after recommendations I received on this forum I decided to cancel the account after a week of opening it.

Perhaps the person that gave you that recommendation will refund you the difference?

jem16

malik999 wrote: »

Perhaps the person that gave you that recommendation will refund you the difference?

Strange one this.

The OP asked on the 8th August about opening a Natwest S&S ISA and was advised against doing so. At no point was it mentioned that he had already opened the account - in fact part way through that post he states that he had decided not to go with the Natwest.

https://forums.moneysavingexpert.com/discussion/2647817

opinions4u

jem16 wrote: »

Strange one this.

The OP asked on the 8th August about opening a Natwest S&S ISA and was advised against doing so. At no point was it mentioned that he had already opened the account - in fact part way through that post he states that he had decided not to go with the Natwest.

https://forums.moneysavingexpert.com/discussion/2647817

Spotted that too.

But hey, it's the fault of the "advice" he got from strangers on a money forum!

jonj123

jem16 wrote: »

Strange one this.

The OP asked on the 8th August about opening a Natwest S&S ISA and was advised against doing so. At no point was it mentioned that he had already opened the account - in fact part way through that post he states that he had decided not to go with the Natwest.

https://forums.moneysavingexpert.com/discussion/2647817

Hi

Yes when I put up the first post I had already opened the natwest account but I didn't want to complicate the discussion by saying so and when I stated I decided not to go with it was when I had cancelled the account. Sorry for the confusion.

Natwest have really frustrated me and the first thing I do when they open on Tuesday is to close down all the accounts I hold with them and move my 55K elsewhere.
I know how the stock market works but I certainly didn't anticipate a £430 loss after a week. I thought the 30 day cancellation notice meant that I would get my initial investment back but it clearly wasn't the case. Really frustrated - it's ruined my day

opinions4u

The reality is that you'd probably have lost a similar amount elsewhere over the same time period. Move on - investing is about getting lucky with the timing.

On this occasion you didn't.

cashbackproblems

jonj123 wrote: »

Hi

Yes when I put up the first post I had already opened the natwest account but I didn't want to complicate the discussion by saying so and when I stated I decided not to go with it was when I had cancelled the account. Sorry for the confusion.

Natwest have really frustrated me and the first thing I do when they open on Tuesday is to close down all the accounts I hold with them and move my 55K elsewhere.
I know how the stock market works but I certainly didn't anticipate a £430 loss after a week. I thought the 30 day cancellation notice meant that I would get my initial investment back but it clearly wasn't the case. Really frustrated - it's ruined my day

LOL buying shares isnt like buying something from Argos where if it doesnt work you can take it back within 30 days as long as you keep your receipt and get all ur money back!! People like u shud just keep the money in the bank as you have no knowledge of how shares work.

Also reiterate in the future dont use high street backs for ANY investment products, stick to iii.co.uk for example.

dealer_wins

NatWest have done nothing wrong here!!

bigstevex

Is this for real?!?!