Natwest/RBS 2.85% esaver

knightfox

cv65user wrote: »

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?!?!?!

I dont think they are allowed to transfer the money without your authority. I ddint return the form about the transfer, just the other bits. Then I transfered money myself. The account is now open, use it.

Unless you want someone to do it for you, then sign the form.

housesitter

Seems silly tho doesn't it.
If you apply online they have already verified your ID using the same details as your online banking.
If they wanted to go further and authorise the withdrawl from your current account they could do a check with the card reader.

It's just done to inefficient IT systems, or Natwests typical "security reasons" excuse for silly practises.

eg: refusing not to send a card out to an alternative address, but yet sending a pin number in a quite obvious pin number style continuous feed paper packet, rather than a plain white envelope.

kiis102

Having major issues. Signed up to this on the 30th of Sept (only have a barclays current acct atm), got my application through the other day asking for my ID stuff, didn't have most of it but sent back my citi bank end of tax year interest summary and a HMRC Tax summary for the year (both original copies). Sent it back the same day I got it (6th Oct). I've not heard anything nor had an email or anything from Natwest except for the application I had to sign.

I forgot to write down my reference number for the application but I'm a bit worried about whats going on. I rang them and they said they don't even have any details about me on their system

alanq

I have just received a response to my complaint about the inaccuracy of the Important Information Booklet. The points have already been chewed over here. One new thing is that NatWest tells me that the despite the new rate only being launched on September 29th they will pay this rate for accounts opened from 22nd September as that was what was written in the booklet.

SimonM_2

Anyone else receive a statement today for this account, with October 7th as the first line of the statement with "account opened" listed next to that date?

I opened it in September, not October 7th.

Sceptic001

alanq wrote: »

I have just received a response to my complaint about the inaccuracy of the Important Information Booklet. The points have already been chewed over here. One new thing is that NatWest tells me that the despite the new rate only being launched on September 29th they will pay this rate for accounts opened from 22nd September as that was what was written in the booklet.

Very generous of them! Are they going to honour the 2.82% AER NET error as well? :rotfl:

johnmoney05

Just a quick question if anyone know how to close the old e-savings account?

giger

Looks like i've been going through the same things posted above. I currently bank with NatWest so I filled in the forms and chose the my NW current account for the initial deposit - a week later nothing happened so I called up only to be told that I need to do it manually and they don't transfer deposits automatically. I was assured that there was no instruction in place to move my initial deposit across.

Incidentally we also opened up a joint e-savings and due to having to sign a form there is a huge back log. Both accounts opened at the same time, the one in my name appeared on my onlien banking about 4 days after I completed the application, the joint one will appearatnly take 10 days to appear. We will be closing our old join e-savings and transferring money in to the new one, we were told johnmoney05 that we need to go in to a branch and close the old one down.

psychic_teabag

johnmoney05 wrote: »

Just a quick question if anyone know how to close the old e-savings account?

Need to send them a letter. The (freepost) address is in the common-questions section of the current esaver page.

nilrem_2

giger wrote: »

we were told johnmoney05 that we need to go in to a branch and close the old one down.

According to the website :-

Is it easy to close my e-Savings account?

Yes – although obviously we hope you’ll choose to keep your account open. To close your account, simply write to: FREEPOST RRAB-CXSB-RAGL, NatWest Bank, West Yorkshire, Retail CSC, 1 Victoria Place, Holbeck, LS11 5AN.