Natwest/RBS 2.85% esaver

G_M

Errata wrote: »

You seem to have everything very well documented. Any chance of you posting on here the complete original advert that you have, together with what Natwest says is the original advert ?

This request was to h176 I believe. If h176 can't (or has not re-vidited the site) anyone else?

rb10

G_M wrote: »

This request was to h176 I believe. If h176 can't (or has not re-vidited the site) anyone else?

I have a print screen copy of the advert as of 30th September:



This is in similar to the one in post #370, from 7th October.

SimonM_2

h176 wrote: »

Spoke to the Ombudsman Service earlier. Can't lodge my complaint with them yet, as this morning's insult of a letter from NatWest wasn't their 'Final Response' letter. Have to wait for that, or for 8 weeks from the date of my first written complaint to NatWest (12 November) as opposed to telephone complaint.

Have NatWest told you it has to be written, or the Ombudsman?

Their FOS website seems to suggest this is not the case:

http://www.financial-ombudsman.org.uk/faq/answers/complaints_a1.html#1

"It can be best to put your complaint in writing. If this isn't something you feel comfortable doing, you could ask a friend, carer, family member or an organisation like Citizens Advice to help you. Or you can make your complaint by phone – but make sure you ask for the name of the person you speak to and their job title. Keep a note of this, with the date and time of your call – and what was said. You may need to refer to this later."

Either way, I'd suggest confirming the details of your complaint so far, in writing, so as you've got something recorded and can use at a later date.

h176

The Ombudsman told me to wait for 8 weeks from the date of my letter of complaint to NatWest, or for a 'Final Response' letter from NatWest, before passing all info to the Ombudsman.
I have now received a complaint form from the Ombudsman, which I can make a start on.

I'm doing everything in writing now, and wasted another hour yesterday sending a letter to NatWest demanding a 'Final Response' letter so I can start proceeding with the FOS. They should receive it in the morning. I'll be keeping the pressure on until they admit defeat!

Apologies to Errata & G_M for not replying before now. Unfortunately I'm not very computer orientated & don't know how to post documents etc.! If you haven't been able to obtain them as yet from any of the above sources, let me know & I'll try & work something out!

Errata

H176 no need to apologise. I'm sure everything will become clear in due course. I feel at this point I need to say that I opened my account on 29/9 in the full understanding that the bonus interest would be paid from 15/10 - which it was - with the basic interest paid from 30/9, which it was, and that the bonus would be paid for 12 months starting on 15/10/10 and ending on 14/10/11.

Rollinghome

Errata wrote: »

H176 no need to apologise. I'm sure everything will become clear in due course. I feel at this point I need to say that I opened my account on 29/9 in the full understanding that the bonus interest would be paid from 15/10 - which it was - with the basic interest paid from 30/9, which it was, and that the bonus would be paid for 12 months starting on 15/10/10 and ending on 14/10/11.

I did exactly the same and was able to guess, or at least assume, what they intended despite the ambiguous information and plain wrong information given on the website but only because I'd opened an account on similar terms with them a year ago. It's understandable that anyone without that information would take the website at face value.

It was because I couldn't be 100% sure what they meant that I copied the pages and took some screenshots which anyone is welcome to. Eight people have already asked for them but they must be only the tip of the iceberg of those misled.

h176

Errata, in some ways you have highlighted NatWest's mistakes in your post above, when you said that you're on 'the full understanding that the bonus interest would be PAID from 15/10, / the bonus would be PAID for 12 months starting on 15/10/10 and ending on 14/10/10'.

If someone works 9 to 5, Mon to Fri, they start EARNING @ 9am on the Monday, and usually get PAID @ the end of the week/month.

NatWest's problem is that they used the words 'PAID, EARNED, ADDED, and APPLIED', but often in the wrong context. This has lead to a lot of confusion, and different people have consequently interpreted the advert in different ways.

The only way NatWest can compensate EVERYONE for their mistakes is to apply the full 2.89% AER from date of account opening (29 Sept 2010 to 20 Oct), to 15 November 2011, for ALL account holders.

I would still like to hear how NatWest can verify delaying the bonus interest until 15th of the month after the month in which the a/c is opened? There is no logical or valid reason for this, apart from to deceive or con their customers. It is a scam & a lie!...

"NatWest: Helpful Banking". I don't think so!!!

samizdat

Sorry to butt in here, but I am confused about when my bonus interest is due to start.

I applied for the e-savings account towards the end of October, but it took me until the middle of November to send back my account opening form. Now, I have just received a statement with a one-line entry dated 25 November saying "ACCOUNT OPENED".

Will bonus interest have already become available as of 15 November, or should I wait until 15 December before paying in any money?

Apologies if this has been dealt with already - I tried searching the thread but haven't found a definitive answer.

BTW, if you think Natwest are ignoring factual aspects of your complaint, just wait and see what the ombudsman is capable of! Be prepared to take it to an oral hearing!

h176

Samizdat, hope I'm not the bearer of bad news, but you need to check your application ref. number. The first 8 digits represent the date you applied i.e. year/month/day, e.g. mine is 20101004*****, representing 4th October 2010. If you applied after 20th October 2010, you may have missed the bonus completely. It was withdrawn on 21 October.....

Today's online advert states under 'rates & important info'; "Including 1.85% bonus. Limited period offer for customers who applied for an e-Savings account between 29 September 2010 and 20 October 2010"

If you're on or before 20 October, your bonus interest should start earning from 15 November. Just a bit concerning if the account didn't open until 25 November. Anyone else have any views?

It does amuse me that straight above the 'limited period' details (mentioned above), today's advert still states; "Note: Internet based account only. Last updated on : 29 Sep 2010". NatWest obviously updated it on 21 October 2010 when they withdrew the bonus offer from the advert, as well as their sly & quiet adjustments on 15/16/17/18 October that most of us know about!

Devonjem

Regarding the "Last updated on 29 Sep 2010" remark on the Rates and Important Info page, it was explained to me that this refers only to the date that the interest rate changed (or in this case launched). They said it does not refer to the date anything else changed.