Natwest/RBS 2.85% esaver

junkmail42

I opened one of the e-Saver accounts hoping it would be as quick & easy as most savings accounts I've opened over the last few years. Wrong!

They paid my initial cheque in on the 5th October. I thought I'd soon be able to transfer my savings from non Faster Payments AA. Paid small amount from Lloyds into NatWest - FP, great. Try & login to NatWest to try transferring back - find I need an activation key. Wait. Few days later, letter from NatWest. Great, my activation key! No, a letter saying that 'as I opted out of online banking.....'. I suspect not, as I applied online, and do all banking possible online. Phoned them. Said they'd send acti code on Monday. Arrived Thursday. Great, I thought, see if it's FP back. Managed to login, but trying to find the option to pay money out isn't easy. Every option I try says 'you can't do that without a card-reader. Would you like to order one now?...........'

For Pete's sake, what the hell do they think I want to use my Instant Access account for? Pay money in & never see it again? I'm fed up with them already.

Anyone opening an e-Saver who's not already a NatWest customer, don't be in a hurry.

chambta

I don't think the bank's systems are clever enough to pay the bonus from a date ahead of the account being opened.

Ready to be shot down for this but using the systems all day,five days a week the system applies all other bonus interest rates from the day an account is actually opened.

frames1_uk

junkmail42 wrote: »

I opened one of the e-Saver accounts hoping it would be as quick & easy as most savings accounts I've opened over the last few years. Wrong!

They paid my initial cheque in on the 5th October. I thought I'd soon be able to transfer my savings from non Faster Payments AA. Paid small amount from Lloyds into NatWest - FP, great. Try & login to NatWest to try transferring back - find I need an activation key. Wait. Few days later, letter from NatWest. Great, my activation key! No, a letter saying that 'as I opted out of online banking.....'. I suspect not, as I applied online, and do all banking possible online. Phoned them. Said they'd send acti code on Monday. Arrived Thursday. Great, I thought, see if it's FP back. Managed to login, but trying to find the option to pay money out isn't easy. Every option I try says 'you can't do that without a card-reader. Would you like to order one now?...........'

For Pete's sake, what the hell do they think I want to use my Instant Access account for? Pay money in & never see it again? I'm fed up with them already.

Anyone opening an e-Saver who's not already a NatWest customer, don't be in a hurry.

I can see on my Lloyds current account that my £1 cheque has been cashed, but I haven't received any other correspondence yet..

zermattbusby

Hi all I applied for this a/c (as a new customer) a few weeks ago, today I received my activation code, a/c is now active and showing the £1.00 (cheque) I enclosed with the initial forms. Great ! I'm now however a little confused regards different ways of paying in... anyone know, will NW accept a lump sum by way of a Building Society cheque ? the BS will do an electronic transfer but its going to cost me £30.00 and I don't really want to start transferring the funds into my RBS a/c (£30.00 again !) to then pass on electronically to NW

TIA

alanq

As far as I am aware cheque deposits are only allowed to open the account. You may wish to consider opening a Step (also known as a Cash account) in branch. You will be able to pay into that at any NatWest branch and then go online to transfer cleared funds into the e-Savings account.

Your online access may have been activated but you will need a card reader to make transfers out.

If you choose to open a Step account you can choose to have either a debit card or an online banking card to use with both the accounts.

frames1_uk

this account is sounding way too much hassle! Think I'll just say goodbye to my £1 cheque and move on!

zermattbusby

Thanks alanq... open another a/c, good idea ! + I shouldn't have to go through all the red tape being an 'existing customer'

I checked the box saying order a card reader so that should be here soon

Cheers again

zermattbusby

I called NatWest earlier to enquire regards deposits and withdrawals...

Basically...

You can deposit as much like in one transaction
You can transfer from any UK Bank or Building society
You can withdraw / transfer a maximum of 10K in one day (electronically)
You can withdraw / transfer any amount via chaps (in one day)
£23.00 to other banks
£21.00 NatWest to NatWest

Hope that helps

nilrem_2

frames1_uk wrote: »

this account is sounding way too much hassle! Think I'll just say goodbye to my £1 cheque and move on!

I just can't understand this TBH, I have had 2 esaver accounts with NW for 2 years and have just opened a 3rd (better interest) and it is no hassle at all!

FWIW although they sent me a card reader years ago to use with my current account I have yet to be asked to use it!

D1zzy

Have to agree with nilrem - opened mine on 29th Sept; visble on-line on 30th -xferred £1 in FP from a LTSB account; transferred in some savings from external accounts with lower rates today (15th). - so hopefully should see some bonus interest at the end of the month

I have a NW current account 'cos that was a requirement to open previous Esavers and have needed to use the cardreader to set-up new payees to transfer money out when the bonus expired, but has never been a problem.