Natwest/RBS 2.85% esaver

neilsedaka

If you don't already have one order a NatWest card reader now rather than discover you don't have one when you want to make a transaction. Login > Account Admin > Order Card-Reader.

SimonM_2

Has anyone had a definite answer from NatWest about the three errors on page 40 of the Important Information leaflet? (AER rate, Net rate, and the bonus date)

I tried calling 0800 255 200 at the bottom of the leaflet (note it's 0800 225 200 earlier in the leaflet) and it just goes through to a dead line - anyone else?

Two other numbers I called, including the one at the top of the letter received with the pack, just ends up getting passed from department to department, until either getting cut off or getting through to a message saying "our office is closed weekends and bank holidays, thanks for calling". It's neither a weekend or bank holiday, and was within their usual opening hours.

The person I did get to speak to though, said it was probably a typing error in the leaflet and couldn't really offer much more advice than that - three errors all on one page, in the Important Information leaflet? Really not acceptable.

alanq

I submitted those issues through Feedback on the website. Also that the website says nothing about electronic transfers having to be by regular standing order.
Website:
"After this first deposit, you can pay money in by electronic transfer from any UK bank account. Looking to save regularly? You can also set up a standing order."
Booklet:
"19.9 Deposits after the initial deposit can only be made by...[transfer from a Natwest account] ... or by regular standing order from any UK bank account. "
I also referred to the confusion from the inconsistent answers that have been given and referred to this thread suggesting that they get someone to post here to put an end to it. (One can only try!).

I have had a response telling me it is now in the complaints system but have not yet had any clarification.

I am hoping that using the feedback system will get a more considered response than the (often conflicting) answers obtained by just contacting customer services.

SimonM_2

alanq wrote: »

I have had a response telling me it is now in the complaints system but have not yet had any clarification.

I am hoping that using the feedback system will get a more considered response than the (often conflicting) answers obtained by just contacting customer services.

Good luck with that - I've found the "complaints system" to be the weak link at NatWest over the past year or so... and they've got a few weak links!

p.s. the 0800 number quoted in my post above is now working.

G_M

Re the unanswered question of when bonus interest starts to be earned I have the following two replies from NatWest:

"....
As your account was opened on the 30th September 2010, you will start earning the bonus rate from the 15th October and the Interest will be paid the following month.
....
Yours sincerely
XXX
E-Messaging Team "

AND

"...

I would like to reiterate that interest (both standard AND bonus) is earned immediately on all cleared balances from the date the account is opened. However it is not physically paid to you until the dates in my first reply.

To be more specific, your personal account was opened on 1st October therefore your initial Standard interest payment will be made at the end of October and your first Bonus interest will be due on 15th November (which is the month after the month in which you opened the account).

XXX
Private Banking Manager
NatWest Private Banking"

Clear now?

:rotfl:

oldfella

as mud - seems like the e-messaging team and the Private Banking Manager need to talk to each other

Errata

Right - is this it? Account opened on 30 Seoptember. Bonus starts being earned on 15th October but won't be credited to the account until the end of November along with bonus for all of November?

G_M

Errata wrote: »

Right - is this it? Account opened on 30 Seoptember. Bonus starts being earned on 15th October but won't be credited to the account until the end of November along with bonus for all of November?

Errrrr.. maybe.

Read my post above!

Former_MSE_Alana

Hi folks,

I've just been notified of the confusion with the bonus rate and here is the response from Natwest:

"Bonus interest starts accruing from the 15th, the month after the account was opened. It is then applied to the account at the end of that month - I.e. Accounts opened in October will start accruing from 15th November. Bonus interest will be applied at the end of Nov."

I hope that clears it up.

MSE Alana

twig1_2

Still confused. Does this mean the bonus rate will not be paid on your deposit for the 1st month?
When does the 12 months for the bonus rate start? I got caught out with a similar deal where the application date started the 12 month period although they took 4 weeks to get the account properly set up and card reader delivered so only got the bonus rate for 11 months.

MSE_Alana wrote: »

Hi folks,

I've just been notified of the confusion with the bonus rate and here is the response from Natwest:

"Bonus interest starts accruing from the 15th, the month after the account was opened. It is then applied to the account at the end of that month - I.e. Accounts opened in October will start accruing from 15th November. Bonus interest will be applied at the end of Nov."

I hope that clears it up.

MSE Alana