Natwest/RBS 2.85% esaver

typistretired

The interest rates out there are miserly 1.70% with restricted number of withdrawals per year. I have opened all the current accounts previously mentioned with the exception of the Santander 123, and no criticism please I am entitled to my own opinion. I refuse to pay for running a current account and don't want to move any of my direct debits etc from my main current account. I opened a Coventry online saver 3 and 4 which pays 2% until February 2014 and a Nationwide Loyalty Account paying 1.70%.

liamcov

typistretired wrote: »

The interest rates out there are miserly 1.70% with restricted number of withdrawals per year. I have opened all the current accounts previously mentioned with the exception of the Santander 123, and no criticism please I am entitled to my own opinion. I refuse to pay for running a current account and don't want to move any of my direct debits etc from my main current account. I opened a Coventry online saver 3 and 4 which pays 2% until February 2014 and a Nationwide Loyalty Account paying 1.70%.

Even with the fee it still works out at 2.6 or 2.7 percent so well worth it rather than your 2 new savers.

typistretired

The Coventry 2% and Nationwide 1.70% accounts are "just in case accounts" for when the Nationwide flexdirect and Lloyds etc might go down, which have only £1 in them. All my savings are paying very good interest.

lolly5648

nilrem wrote: »

I would be interested to know what other savers with this Natwest esaver are going to do when the bonus ends?

I am also interested in what others are going to do. I keep hoping Natwest will offer a new rate as I like the convenience of the easy transfers between accounts and that you could make payments from the esavings.

The best rates offered seem to be branch only and none of these branches are in London.

Gordon_the_Moron

typistretired wrote: »

The interest rates out there are miserly 1.70% with restricted number of withdrawals per year. I have opened all the current accounts previously mentioned with the exception of the Santander 123, and no criticism please I am entitled to my own opinion. I refuse to pay for running a current account and don't want to move any of my direct debits etc from my main current account. I opened a Coventry online saver 3 and 4 which pays 2% until February 2014 and a Nationwide Loyalty Account paying 1.70%.

If you run out of space with Vantage and Flexdirect, if you've got a big enough balance to put in the 123 account (£3000+ constantly) the difference between what a 1.7% savings account will return and the 123 account is more than £2 per month in favour of the 123.

Out of curiosity, since it is such a good deal, why not use 123 as your main account?

typistretired

I am happy with First Direct never let me down and I have that £250 free overdraft which I never use but nice to know it's there. Can't see Natwest offering a new esaver with a good interest rate especially as they wrote to us all informing of the end of bonus rate.

innovate

If Lloyds/BOS/TSB are maxed and more cash needs to find a home, not having a Santander 123 (or two) but instead settling for 1.7% savings accounts is cutting your nose to spite your face. But each to their own.

typistretired

Those accounts only have a £1 in them as they are the highest easy access accounts. I still have the option of my husband opening all the interest paying current accounts

rb10

lolly5648 wrote: »

I am also interested in what others are going to do. I keep hoping Natwest will offer a new rate as I like the convenience of the easy transfers between accounts and that you could make payments from the esavings.

The best rates offered seem to be branch only and none of these branches are in London.

I doubt Natwest will give anything near the top rates of 3% that are being offered by Santander / TSB / Lloyds / Bank of Scotland, or 5% at Nationwide.

I assume from your post that you bank with Natwest?

If this is the case, then it's even more convenient to switch your bank account to one of the banks listed above, as you can then keep your savings (subject to maximum balances) in your current account earning interest - so don't need to transfer in/out at all.

lolly5648

rb10 wrote: »

I doubt Natwest will give anything near the top rates of 3% that are being offered by Santander / TSB / Lloyds / Bank of Scotland, or 5% at Nationwide.

I assume from your post that you bank with Natwest?

Yes, I also bank with Nationwide and have too much money there as I have long term ISAs, loyalty saver, etc. I had a terrible customer service experience with Santander when they first took over and wouldn't go back to them and I don't think they would have me back as a customer. So that leaves TSB/Lloyds/Bank of Scotland to investigate.

I have £20000 to move but need easy access as I will be buying a car and paying for various other things next year