Natwest/RBS 2.85% esaver

Cash-Strapped.T32

The card for this acc arrived today, quite surprised that after receiving my order of a card-reader, they figured out I would need a card to go with it, or at least considering some of the less than flattering opinions of NatWest expressed in this thread. :rotfl:

That might not be fair tbh, everything has been utterly smooth so far, internet banking works, I've not timed an outgoing payment yet (I don't have another NW account, so I will be relying on using faster-payments to transfer into a 3rd party bank on a regular basis), but as others have pointed out for me, it does use F-P in both directions.


Even the card came in a nice non de-script, even cheap looking envelope, no bank-logos or anything to make it look worth nicking or accidentally losing.
However, and I know I might just be wishing for the moon on a handy pocket-sized stick here, but I was rather hoping that the card could be used to make cash-withdrawals from at least NawWest branded ATMs.

Now that would be useful! :cool:
Still not getting bonus until Nov-15, but then again I won't be earning more than percentage-points of pence anyway for a little while.




..just need the reader to go with it now.. Damn I knew I'd gotten to the end of my post & forgotten something..

alanq

Cash-Strapped.T32 wrote: »

I was rather hoping that the card could be used to make cash-withdrawals from at least NawWest branded ATMs.

You could open a Step (aka Cash) account in branch and get a Visa debit card for use with that. You could then use online banking to transfer funds to/from your eSavings account as required.

However, after the mess NatWest have made of the eSavings account it would be understandable if many people are reluctant to open a second account with NatWest.

Tippytoes

There is one big problem with the Nationwide account. The interest has to be paid into the linked bank account and cannot be paid into the savings account itself. Therefore, unlike other accounts, the monthly interest is not compounded. It is paid into the linked account, then has to be transferred from the linked account back into the Nationwide account. Think how much interest is lost transferring from a to b. I cancelled my application when I realised...

SnowMan

nilrem wrote: »

In fairness to Natwest they do state on the info that the bonus interest will not be paid immediately

I'm afraid it appears you have been caught up in a phishing scam. Your browser has redirected you to a fake version of the Nat West website.

This seems like quite a sophisticated scam. The fake website was identical to the real Nat West website except that on the fake website the information about the bonus start date was clear, accurate and not mis-leading,

Nat West have not helped those caught up in this as they have changed their website to show accurate information just as they closed the offer so is it now very difficult to differentiate the two.

Would suggest you download malwarebytes and do a full scan

srbuck

Nat West online say they are adamant that their website never said "Includes a bonus of 1.85% Gross for the first 12 months". They say that the word "first" was never in there, so will not be in a position to help me further.

I can't prove to them one way or the other - does anyone have any further evidence, please, or other advice on how to proceed?

Rollinghome

srbuck wrote: »

Nat West online say they are adamant that their website never said "Includes a bonus of 1.85% Gross for the first 12 months". They say that the word "first" was never in there, so will not be in a position to help me further.

I can't prove to them one way or the other - does anyone have any further evidence, please, or other advice on how to proceed?

They are wrong.

I took a copy of the page as at 29/9/2010 10.31 a.m. (and several others) which says:
"Manage your savings online and earn bonus interest for 12 months.

• 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, added to the standard rate of 1.00% AER/Gross (variable)."

PM with your email address if you want a copy.

barak

Rollinghome wrote: »

They are wrong.

I took a copy of the page as at 29/9/2010 10.31 a.m. (and several others) which says:
"Manage your savings online and earn bonus interest for 12 months.

• 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, added to the standard rate of 1.00% AER/Gross (variable)."

• That's right Rollinghome! I too saved a copy of that wording at 20:31 on 14th October 2010.

Rollinghome

barak wrote: »

• That's right Rollinghome! I too saved a copy of that wording at 20:31 on 14th October 2010.

I've sent a copy to srbuck so if NW have any sense they'll put their hands up. If not he might like your copy as well.

I've found I've also got a copy of the NW home page dated 13 October that says:

e-Savings accounte-Savings account
Get a bonus of 1.85% Gross for 12 months from account opening.

Which is clear enough even if it's not what they intended to say.

SnowMan

srbuck wrote: »

Nat West online say they are adamant that their website never said "Includes a bonus of 1.85% Gross for the first 12 months". They say that the word "first" was never in there, so will not be in a position to help me further.

I can't prove to them one way or the other - does anyone have any further evidence, please, or other advice on how to proceed?

How sad we all are. I kept a screen print showing the first 12 months bit also. They corrected it on the morning of 18 October or thereabouts. So can email that if you PM me although it sounds like rollinghome kept prints of some of the other incorrect pages and has sent them to you already and barak has a copy also.

There is also evidence that they were alerted to the incorrect evidence and chose to do nothing about it. See this post for example.

Devonjem

I have been in contact with Natwest about this account. I applied on 29 September and deposited a large amount. They wrote to me saying as I had ticked the box confirming I had read the terms and conditions, then they have no case to answer. I have replied saying I relied on their main advertisement pages and that terms relating to duration of bonus interest period should be clear and contained in the main ad in accordance with the BBA code, not tucked away in small print. I also made the point about expecting bonus interest from account opening in accordance with the ad as it appeared on 29 Sept, although unfortunately I did not print a copy of it at the time. Further I have asked why my account was not opened straightaway in accordance with their common questions, as I am an existing natwest customer (it was opened a week later). I also made the point about the AER being unclear.

I wrote to them a week ago on all of this and await a reply.

cheers