Natwest/RBS 2.85% esaver

ChiefGrasscutter

Well I'm still awaiting anything at all back from N.West - as an existing customer with an e-Saver: I applied, I think, about a week ago.
Obviously they are snowed under with applications........

paulw98

So am i right in saying that when the account is opened with £1 its not worth transfering in the bulk of the money till the 14th of the month following your account opening?

isayhello

Hi,

what do people who have opened this account or are thinking of opening it, feel is the best option, this account or the halifax web saver?

The difference is 2.89% v 2.8% if you're already with halifax.

I am with the halifax and thinking after all the hassle and confusion people seem to have gone through that it's best to stick with halifax than join as a new customer for an extra 0.09%.

Baldur

isayhello wrote: »

Hi,

what do people who have opened this account or are thinking of opening it, feel is the best option, this account or the halifax web saver?

The difference is 2.89% v 2.8% if you're already with halifax.

I am with the halifax and thinking after all the hassle and confusion people seem to have gone through that it's best to stick with halifax than join as a new customer for an extra 0.09%.

The difference is not just the 0.09%.

The Halifax account only permits one withdrawal per year without loss of interest, whereas the Natwest e-Savings account permits penalty-free instant access.

nilrem_2

At risk of being chastised can I say that I feel some are making a 'mountain out of a molehill' over this account, I have had 2 esaver accounts with Natwest for some time and found them very useful especially if one already has a Natwest current account.

I do find some stuff complicated but not this account and FWIW although I was supplied a card reader to use with my current account I have never used it, I just simply transfer money to and from my current account as required.

When the bonus rate expires they normally write to you and offer a new bonus or one can simply open another account with bonus if one is available.

I honestly don't understand what all the fuss is about.

premierfella

nilrem wrote: »

At risk of being chastised can I say that I feel some are making a 'mountain out of a molehill' over this account...
I honestly don't understand what all the fuss is about.

I agree to a point. However, I am financially astute and I would have been caught out by the way NatWest apply the bonus on this account if others on here had not pointed it out - not because the details of how the bonus is applied and when are hidden away in the "common questions", but because of the headline indicating the rate applying for the first 12 months (e.g. here: http://www.natwest.com/personal/savings.ashx )

That is not just misleading, it appears that it is blatently not the case. If that is how NatWest have advertised their previous E-Saver bonus offers I am frankly surprised that they haven't been pulled up on it by the relevant authorities before now.

edinburgher

Posted off my forms for this account a couple of days ago - now I can look forward to a boost to my interest rate from the 15th of November

cv65user

When I signed up on the internet. the online form asked me if i want to fund it from a current account so I typed in 5000.00

Then I checked my account a few days later to find that the e savings plus account had been opened with a nil balance. So I called up the lady to ask whether if I need to transfer the 5000 or it is being done automatically.

She claimed that it is online so you have to do it yourself. So I expressed my concern that I dont want to transfer 5000.00 manually only for then the system to transfer another 5000.00 making my balance -5000 in overdraft. She claimed no it wont and re assured me that its all do it yourself online.

Today I get a letter saying thanks for opening my account and to sign and return the form and they will be taking 5000.00 out of account?!?!?!

neilsedaka

For me they transferred £1 from my NatWest first reserve account after I returned the form confirming that they should do so. It was not a manual transfer by me (NatWest transferred it), but I have transferred small amounts manually before and after that time.

housesitter

I dont know why they bother with the direct debit option from another account.
I got forms for my two accounts through the post but only after the accounts were open and I'd transferred in online.
Perhaps they should mention this on the website too.