Natwest/RBS 2.85% esaver

Rollinghome

lizkelly wrote: »

Thanks very much 'Rollinghome' for your useful post re the NatWest E-saver account. I have been watching this 'thread' with great interest as I too have fallen foul of the interest rate wording and ambiguous statements and I need all the back-up that I can muster in my claim. I would very much appreciate receiving a copy of the NatWest Home page dated 13th October that you say you have. I am new to this forum system and not quite sure how to give you my details. What do you suggest?

Liz, I've got copies of the HTML pages both where it says "Includes a bonus of 1.85% Gross for the first 12 months" and another saying "Get a bonus of 1.85% Gross for 12 months from account opening. I've also got a screengrab of the page Snowman has posted above and you can copy from there. Others have have other copies.

Nothing ambiguous about it, just plain untrue. The only reason some of us thought NW might mean something else was on the basis of their previous offers last year.

If you PM me with an email address I can send them to you. (Click on my name to send a PM.) Good luck.

Devonjem

Rollinghome - thanks for the links. I see that one of the key pages bears the mark "Last updated on 29 Sep 2010". Surprisingly if you look at the current Natwest page for this account (which of course has the later added clarification wording about the bonus interest period) you see it also states "Last updated on 29 Sep 2010".

Ummm - something not quite right there.


cheers

SnowMan

Devonjem wrote: »

Rollinghome - thanks for the links. I see that one of the key pages bears the mark "Last updated on 29 Sep 2010". Surprisingly if you look at the current Natwest page for this account (which of course has the later added clarification wording about the bonus interest period) you see it also states "Last updated on 29 Sep 2010".

Ummm - something not quite right there.


cheers

Something else that Nat West got wrong, clearly the current page was not last updated on 29 Sept.

These google cached pages (i.e. old versions of the Nat West e saver page) at 30 Sept are worth looking at also as they show the old wording and all the tabs.

Features and benefits
Rates and important information
Common questions

Both features and benefits and rates and important information gave no clue of the delay and both leave the first 12 months wording at the top. And it was only by clicking on common questions and then choosing when is the bonus paid that you got any clue that there might be a delay in the bonus.

The "rates and important information" cached page at 30 Sept and the different "rates and important information " current page both have the Nat West wording of "last updated on 29 Sep 2010" pretty much incontrovertible evidence that the Nat West last updated wording is wrong.

SimonM_2

SnowMan wrote: »

I agree the only WRITTEN reference was the footnote in very small print on page 40 of a 66 page booklet

Was that the "Important Information" leaflet, supplied to customers in the post after applying for the account?

If so, NatWest have told me that there are "typos" on that page - I count three of them. They have no plans to issue a corrected leaflet, despite it being "Important Information".

I do not know if there are further errors within that Important Information leaflet, but three on one page, two of which relate to the actual interest rate figure, really doesn't give me any confidence at all that the information contained in it are accurate or truthful.

SimonM_2

h176 wrote: »

I have complained to Natwest Care Team Manchester, & Natwest Customer Relations Unit. They are "unable to uphold my complaint".

Have they explained why they are "unable" to uphold your complaint? Unable or unwilling? Or as I feel from having existing complaints with NatWest, simply incompetent?


Edit: By the way, my complaint about the E-savings account discussed in this topic, has been upheld and accepted, but as yet not resolved.

Rollinghome

SnowMan wrote: »

And it was only by clicking on common questions and then choosing when is the bonus paid that you got any clue that there might be a delay in the bonus.

And whereas all their previous statements were simply incorrect, a generous interpretation would be that the statement there is merely ambiguous. The bonus isn't paid from the 15th, as several people on this thread reasonably assumed, it's applied from the 15th but paid with the basic interest rate on the last working day of the month.

I also downloaded the PDF file of 'Key Product Information for our Savings Products' on 29/9. That was out of date and gave the bonus terms for previous versions of the e-Savings account.

Natwest would look less silly if they 'fessed up and gave in graciously to those they misled.

cv65user

im sure mine said 2.89 gross, 2.85 net for first 12 months when sign up but FYI i opened up my acccount on 5th october 2010 as thats when i put a £1 in it to test it when i signed up over the internet.

I called up today 12/11/2010 the lady at my local branch confirms that the 2.85% starts on 15/11/2010 so I have scheduled a BACs transfer on the 15/11/2010 for a whack to go in then whilst its still earning 2.60% in my halifax web saver reward all along. but the 2.85% will only last till 04/10/2011 . ie. anniversary date of opening account. So less 1 months interest at 2.85% not the full 12 months as advertised. I tried arguing it but she was only a branch staff so didnt get any where so hopefully something better will be released in 11 months time.

i guess ill schedule it in my iphone to change lol

SnowMan

SimonM wrote: »

Was that the "Important Information" leaflet, supplied to customers in the post after applying for the account?

If so, NatWest have told me that there are "typos" on that page - I count three of them. They have no plans to issue a corrected leaflet, despite it being "Important Information".

I do not know if there are further errors within that Important Information leaflet, but three on one page, two of which relate to the actual interest rate figure, really doesn't give me any confidence at all that the information contained in it are accurate or truthful.

Yes, was talking about the one supplied to customers in the post which amongst other errors shows the 2.82% net rate (should have been 2.28%); the booklet that came with the letter that incorrectly said I had not applied for internet banking even though it is an internet only account :rotfl:

SimonM_2

How many people on here have raised a complaint with NatWest about this e-savings account (no matter what the complaint) and how many people have been issued with a proper complaints number?

If you've got a complaints number (please do not post it) what were the key points of your complaint about? The bonus payment dates, the AER rate quoted, the "typos" in the important information leaflet, the Net rate in the important info leaflet, and/or some other issue relating to the account? NatWest did tell me no one else had complained about the interest rate and that the complaints were about other inconsistencies, but this forum would suggest otherwise.

musehead

I applied for (and opened?) my account at the end of September, but the opening date on my first statement says 7th October. Even so, I got the bonus interest rate last month so it must have applied from 15th October.