Natwest/RBS 2.85% esaver

alanq

"Are you an existing NatWest Online Banking customer? We’ll open your e-Savings account straightaway."
I was an existing online banking customer in that I had activated online banking and received my card and card reader. I even applied for the e-Saver while logged into online banking yet I got sent a load of paperwork to sign and return and my e-saver is shown as having been opened 7th October. Was this other online banking customers' experience or was it something to do with me not having activated the card reader at the time?

frames1_uk

does this account come with one of those card readers? I can't be doing with that, if it does...

alanq

Under Features And Benefits

"How do I make withdrawals? Simply make an electronic payment from your e-savings account to any other UK bank account. To ensure your funds remain safe, you will need to use your card reader."


So yes.

frames1_uk

I have never seen one and have no idea what they do....

G_M

Thay add an additional layer of security to protect access to your money.

You only need to use it once to set up a new payee (thereafter you can make payments to that payee without the card reader).
To add a new payee later, you'll need the card reader again.

"Are you an existing NatWest Online Banking customer? We’ll open your e-Savings account straightaway."
I was an existing online banking customer in that I had activated online banking and received my card and card reader. Was this other online banking customers' experience or was it something to do with me not having activated the card reader at the time? "

I applied from within online banking on 30 Sept and received an account number immediately. The account appeared in my online banking on 1st Oct.

Now I wonder if I earn bonus interest from Oct or November......?

Baldur

frames1_uk wrote: »

I have never seen one and have no idea what they do....

Nationwide's demo of their version shows the same type of card reader and how it's used - http://www.nationwide.co.uk/rca/How-does-it-work/find.htm

D1zzy

oldfella wrote: »

Probably being very dense here but, over which 12 of the 14 months is the AER calculated, on this account - If say you opened account on 01/10/10>

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15 nov 2010 - 14 nov 2011

Even though the account is open for 6 weeks prior to the 15th Nov - earning 1% - this is not factored into the quoted AER ?

Oh and for good measure the headline ad still says
2.89% AER, 2.85% Gross (variable)
– When you open a new account
- Includes a bonus of 1.85% Gross for the first 12 months

Or alternatively

Get a bonus of 1.85% Gross for 12 months from account opening

ScarletBea

alanq wrote: »

"Are you an existing NatWest Online Banking customer? We’ll open your e-Savings account straightaway."
I was an existing online banking customer in that I had activated online banking and received my card and card reader. I even applied for the e-Saver while logged into online banking yet I got sent a load of paperwork to sign and return and my e-saver is shown as having been opened 7th October. Was this other online banking customers' experience or was it something to do with me not having activated the card reader at the time?

Oh don't worry, they send that to everyone.
I had the same problem, in that the account appeared on my online banking the day after opening the account, I strated transferring money in, and then 1 week later I got the paperwork and the request to send £1.
I called them and asked if that was really needed and after checking they confirmed that everything was fine, I didn't have to send any money by cheque.

alanq

Baldur wrote: »

Nationwide's demo of their version shows the same type of card reader and how it's used - http://www.nationwide.co.uk/rca/How-does-it-work/find.htm

A Nationwide card reader can be used for NatWest and vice versa with the correct cards. However, the procedures are a little different. (e.g. NatWest uses the Respond button whereas Nationwide uses the Sign button.)
http://www.natwest.com/microsites/global/cardreader_demo/online_demo.htm

oldfella

Even though the account is open for 6 weeks prior to the 15th Nov - earning 1% - this is not factored in the quoted AER ?

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I am sure NW will maintain that the AER is correct for the duration of the bonus period - I guess they reckon its up to us to work out when the bonus period is