Natwest/RBS 2.85% esaver

Rollinghome

fitzroy wrote: »

Did you mean to say 1.85% or 1.89%?

Pays a rate with bonus of 2.85% gross which as it's paid monthly results in an AER of 2.89%.

junkmail42

Milarky wrote: »

Better check this with somebody else then (although there is plenty of time now to do so) since, according to post #276, your reference implies that the bonus year actually run from 15th October 2010 to 14th October 2011 - not November. Maybe Natwest will agree to roll out one more month for you on account of their delays - so it's sensible to get something confirmed (preferably in writing) now rather than later.

Thanks Milarky, I was confused over what some earlier posts said myself, and thought that my bonus would start 15/10, but speaking to NatWest & re-reading earlier posts, I think they agree. The ref. indicates the date of application (29/09), and at least in my case, the letter date showed the date of opening (5/10). NatWest confirmed the 5th October opening, and bonus from 15th Nov (15th of month after account opened).

I did get some interest at the end of October, but just the one entry, which again, according to other posts, would have been 2 entries if I'd had the bonus from the 15th.

If I stick with them for a year, and don't get interest up to 15/11/11, I'll be back on the 'phone, no fear:D

drlabman

I made my application on 29/9. I've just received the first month's interest and sure enough there's no bonus interest. What annoys me is that I made the application while logged in to internet banking, and the fact that the FAQ said that if I used online banking already the account would be opened straightaway. Well clearly it wasn't because a letter arrived a few days later asking for signatures. The only reason I can think of is that I opened a joint account. The fact that my wife doesn't have internet banking may have been another complicating factor. Do you think I have cause for complaint? Otherwise it'll be the end of Nov before I see any bonus.

neilsedaka

Applied 29th September. Two sole accounts opened immediately. Two joint accounts got delayed because signatures required.

alanq

drlabman wrote: »

What annoys me is that I made the application while logged in to internet banking, and the fact that the FAQ said that if I used online banking already the account would be opened straightaway. Well clearly it wasn't because a letter arrived a few days later asking for signatures. The only reason I can think of is that I opened a joint account.

I too applied for an account in my sole from within Internet Banking on the day the 2.85% e-Savings account was launched and was sent forms to sign. Fortunately forum members warned about the bonus confusion so I will have only £1 in the account until mid-November. Therefore I am not bothered that the 12 months has not started yet.

nilrem_2

Applied for a joint account on the 15th Oct, it has been open and working since Friday 29th Oct. Probably quicker because we do have a Natwest current account.

I have 3 joint esavers now, the original one now on low interest with £9 in it, the existing one that is paying a bonus up until Jan 2011 and now this new bonus one which I will switch to when the new bonus kicks in.

To those who are frustrated with opening and using this account I would say persevere, it gets better, it's not a actually a bad account but Natwest do make it a little confusing.

It's very good if you have a Natwest current account as you can switch any amount to and from instantly.

housesitter

Applied on 29th.
Checked my two accounts in the quick view and both got two lots of interest.
Checking the statement view it shows:

29 Oct 2010 INT 29OCT NET
29 Oct 2010 INT BONUS

rare_uk

I applied for a joint account on 7th Oct, they sent me stuff to sign, which I returned promptly. They sent me a letter saying I didn't put an account number and sort code to which my Direct Debit will be going to.....(I haven't got it - as the account hasn't been setup yet)
Rang them last week, girl said it can take 10 working days for account to be opened and to check my online banking on Monday (today) as it will show up in there when opened. When I hung up the phone, I relaised it had been more than ten working days (DOH!)
Logged in today, and no sign of it online, so rang them, and they told me they haven't received my paperwork back. Rubbish!! You replied to me as mentioned earlier about the missing account number and sort code in my application form, so you must have it. So they finally came back and they said they can reprint the app form and send it again for me and the Mrs to sign again. I just got disheartened and hung up.....I thought that was abysmal!!!

Not happy as I got rubbish Santander (Abbey National) savings account I can't transfer money into since Santander took over - who treat me like an idiot when I ring up (are you sure you put the correct account number?..yes...sort code?...yes....Oh, it must be the other banks fault), and now this!! I'm getting peed off sending all my life details to compaines only for them to lose them or clain not to have received them

Milarky

junkmail42 wrote: »

I was confused over what some earlier posts said myself, and thought that my bonus would start 15/10, but speaking to NatWest & re-reading earlier posts, I think they agree. The ref. indicates the date of application (29/09), and at least in my case, the letter date showed the date of opening (5/10). NatWest confirmed the 5th October opening, and bonus from 15th Nov (15th of month after account opened).

I did get some interest at the end of October, but just the one entry, which again, according to other posts, would have been 2 entries if I'd had the bonus from the 15th.

If I stick with them for a year, and don't get interest up to 15/11/11, I'll be back on the 'phone, no fear:D

I see where the confusion is arising - the date of application as shown in the reference number simply represents qualification for the BONUS itself. The date of earliest funding (mine was applied for on 29 September and showing 'opened' the 30 and funded by £1 from Lloyds the same day) represents the bonus COMMENCEMENT date

So I accept that what you've been told is almost certainly correct info (phew!)

alan1946

I applied for this account on 19/10/2010 and received the paperwork back (with an application ref number confirming 19/10/2010)on 23/10/2010 and duly signed it and returned it back to Nat West and the funds from my current account were transferred on 01/11/2010

I rang Nat West today to confirm I'll receive the full 2.85%(inc. 1.8% bonus) and after a some checks with a higher authority was told I would, as an e-mail had been sent round at Nat West about similar enquiries from savers who applied by 20/10/2010 but their accounts weren't opened until later. Interest accrued will be shown on 15/11/2010