Natwest/RBS 2.85% esaver

alanq

fitzroy wrote: »

Was I paid bonus @ 1.85% or 1.89%

1.89% is the AER. You should be paid at 1.85%pa each month. If the interest paid monthly remains in the account the total received would be the equivalent of 1.89% paid annually.

SimonM_2

I've spoken with NatWest this morning about this complaint with the e-savings account. I was told that a few people have bought this up with them, but [they still feel that the AER and bonus] wasn't advertised as being the "first" 12 months, despite me having a copy of this as others on this forum have, and as the screenshots on previous pages have shown.

I obviously disagree with them, because I have copies of the info to say otherwise. Also they still do not know when/how the correct information from the Important Information leaflet will be communicated to customers.

So whilst I'm now seeing some positive progress on this complaint, it seems there is still some way to go to to having this resolved.

Rollinghome

SimonM wrote: »

I've spoken with NatWest this morning about this complaint with the e-savings account.

Well done for keeping at it. The idiocy of these people is beyond belief.

It's simple enough. They advertised the account with the exact words "Get a bonus of 1.85% Gross for 12 months from account opening" and "Includes a bonus of 1.85% Gross for the first 12 months". Copies of those statements are available.

Looks as if Fitzroy has been diddled out of about £25 or so and probably fairly typical. To waste so much staff time telling porkies and destroying customer confidence for so small an amount is even more incompetent than making the errors in the first place.

h176

NatWest definitely have a copy of the ORIGINAL advert, as per the Google Cache version, with "the FIRST 12 months", "your bonus interest will be PAID monthly ... starting on the 15th day of the month after the month in which you opened your account" etc etc. I sent it to them on the 12th November, with a long list of complaints.

I've just rung the NatWest Customer Care Team to see where my response is, as they promised this within 10 days. Apparently they sent a 'Final Resolution' letter to me on 16 Nov. I haven't received it, so they are sending a copy of it to me in today's 1st class post.

Just a thought, the Google Cache copy of the original advert is no longer available. Did it expire, or did NatWest have it removed?.....

Keep you posted.

SnowMan

h176 wrote: »

NatWest definitely have a copy of the ORIGINAL advert, as per the Google Cache version, with "the FIRST 12 months", "your bonus interest will be PAID monthly ... starting on the 15th day of the month after the month in which you opened your account" etc etc. I sent it to them on the 12th November, with a long list of complaints.

I've just rung the NatWest Customer Care Team to see where my response is, as they promised this within 10 days. Apparently they sent a 'Final Resolution' letter to me on 16 Nov. I haven't received it, so they are sending a copy of it to me in today's 1st class post.

Just a thought, the Google Cache copy of the original advert is no longer available. Did it expire, or did NatWest have it removed?.....

Keep you posted.

The cache almost certainly expired. The cache is there so search results can be shown by google based on their last trawl and so pages load quickly.

I think you can as a website owner request for the cache not to be made available by google generally but I very much doubt that has happened here.

Will be interesting to hear what their final response is. Surely they can't be silly enough to force you to go to the ombudsman, Can they...........?

SimonM_2

h176 wrote: »

Apparently they sent a 'Final Resolution' letter to me on 16 Nov.

Was it a "final resolution" or "final response"? The CRU don't send Final Responses (despite what the complaints process on the website says) and these are issued by the Ombudsman Response Team instead.

I find it odd that the Customer Relations Unit can claim that a letter is their "final resolution" when they may not have resolved something at all. It seems they're happy to say something is "resolved", as long as they've sent a reply denying that the bank could in any way be wrong. Still, hopefully if you're not satisfied you will be requesting a Final Response and then going to the Ombudsman.

premierfella

SnowMan wrote: »

Will be interesting to hear what their final response is. Surely they can't be silly enough to force you to go to the ombudsman, Can they...........?

+1. Thankfuly I haven't lost money on this (as I saw the thread here and discussion of the 12 month period not actually being the first 12 months). But NatWest's (apparent) position of pointing towards the terms and conditions appears highly questionable and must surely fail if a case goes to the Ombudsman based on a customer applying for the esaver directly in response to seeing the advertising on the NatWest website clearly stating "...first 12 months" and/or "...12 months from account opening". Surely?

h176

They definitely said "final resolution", but as you say, they probably mean't "final response".

Once it arrives, this will be the 4th letter they have sent me, with the second one saying they were unable to uphold my complaint. That was based on the revised advert! It still beggars belief that I had to then send them the original Google Cache copy of THEIR advert, as they couldn't seem to obtain it themselves!...

I originally sent all the info to the FSA, I phoned them aswell this aft, but they cannot disclose anything due to confidentiality.

If this Final Response/Resolution letter doesn't confirm 2.89% AER backdated to a/c opening, plus respectable compensation, plus a full apology, then without question all my info will be forewarded to the Ombudsman and the Daily Mail.

SimonM_2

andre5 wrote: »

...

I called NatWest customer service and they confirmed that it might be a typo but that a customer would get the advertised 2.82% Net rate if they opened an account when it was advertised like that.

I don't know how they will do or check that because they would need to raise the Gross rate to get to the raise Net rate. I was, however, assured that the system would exactly know when the account was opened. I opened one and we shall have a look what rate I get.

Have you received 2.82 or 2.28% Net? If you've got 2.28% have you complained about it and what have NatWest said?

h176

Finally received a reply from Customer Care Team, after they re-opened my case.

They have investigated my complaint yet again, including the Google Cache of the original advert that I sent them with all the highlighted alterations, additions & deletions.

They have sent me a copy of the revised advert yet again, saying this was the original advert of 29th September.

They are "unable to uphold my complaint. This is because all the information about the E-savings account, including the date from which the bonus will be payable, was available to review by prospective customers, on the original advert on our website, enabling a full and informed decision to be made about the account before completing an application."

I am utterly astounded. They will not admit that the advert was changed.

Time for the Ombudsman & the Daily Mail!..........