Natwest/RBS 2.85% esaver

G_M

As Joey in Friends said about Rachel's trifle: "what's not to like?"

Instant access with Faster Payments?.... GOOD!

2.89% for a year?.... GOOOOD

alanq wrote: »

The problem is that NatWest confused everyone from the start with misprints and complicated conditions so that even its staff did not know what was going on.Compensation for c*ck-up?.... GOOOOD! Even at the end they could not get a date correct. (Why mention 13th and 14th?) So what confidence does that give one about the new offer. They say 15th October 2012 but is that date accurate? Did they mean something else? Who knows?

2.89% is too small an offer made too late IMO.

Additional year?.... GOOOOD!

And who knows, in another 12 months have another dispute about end date... and compensation again?.....GOOOOD!

ScarletBea

I never get these letters... I wonder if it's based on money kept in that account...

cathh70

ScarletBea wrote: »

I never get these letters... I wonder if it's based on money kept in that account...

Probably not, I have kept between £500 and £1000 in it, never any more than that. I first opened the account on Sept 29th, and got my letter on Oct 1st.

Funkyfreddy

atypical wrote: »

I got the same letter. The 1.85% fixed bonus continues for 12 months. It states the offer is by invitation only so they may be selectively offering it as they have done in the past.....

Received mine in this morning post.

Considering I have only had a relatively small balance for 6 of the 12 months and only £20 since June I'm not sure what their selectivity might be - perhaps they are trying to get me back !

atypical wrote: »

Interestingly it says my bonus was due to expire on 13th October. From 14th October I'll receive the new bonus for 12 months until 15th October....

Likewise - opened on the 29 Sept 2010 with first depost showing as the 30 Sept 2010.

Rgds
FF

alanq

alanq wrote: »

Went to branch. No sign of First Reserve bonus on display. Reception desk confirms that it exists BUT that it is not available if one has any other (instant access?) savings account. So I left instructions for them to close my eSavings account and to open First Reserve.

I think that there is a very good chance that they'll somehow "forget" the bonus but let's see. I'll not deposit any significant amount until I'm sure.

Revisited branch today to confirm all was well. I am now informed that the 2% bonus on First Reserve is not on offer to anyone who has had a NatWest instant access savings account (includes eSaver) during the past 90 days. So I was mislead on Friday. NatWest really doesn't seem to understand its own products/offers.

home_alone

Talked to Nat West this morning and they have confirmed its selective and if I have not had my letter in a week I will not be getting one, very nice of them, I have 3 accounts with them the e saving and 2 cash ISAs plus totally about 100K I am now looking to move the lot out, anyone know of a friendly bank I can go to? Would not mind but the rates are not that great just the nausea of changing again.

fizzypop

home_alone wrote: »

Talked to Nat West this morning and they have confirmed its selective and if I have not had my letter in a week I will not be getting one, very nice of them, I have 3 accounts with them the e saving and 2 cash ISAs plus totally about 100K I am now looking to move the lot out, anyone know of a friendly bank I can go to? Would not mind but the rates are not that great just the nausea of changing again.

Me too, no letter yet and over £70K in one eSaver.
How on earth do they select renewal applicants...they must have made a mint out of my 70 grand. Banked with them for 30 years but, no doubt, can discount any nod to a loyal customer.

ScarletBea

I got my letter today, so it's great, I'm keeping it.
It makes my life so much easier, considering that I have my current account and credit card there, like the instantaneous transfer facility and payment.
The difference in interest to Santander's 3.1% for the average amount I keep there is worth it...

I really think it must be completely random, because the last time they did this promotion I never got the letter, and now I did.

Dr_Cuckoo3

alanq wrote: »

If you want to stick with NatWest it seems that there is First Reserve. (Quarterly interest not monthly). Only advertised as paying 0.10% on the web but I saw in one branch, and only one branch, leaflets saying that a bonus of 2% was on offer for one year. A forum member who claims to work for NatWest confirmed that this bonus exists and that I had not imagined it.

A link to the 2% First Reserve application form

www.natwest.com/FirstReserveOffer

also
Ulster Bank have a 3% (on £1 - £15,000)regular saver account
http://www.ulsterbank.co.uk/ni/personal/saving/regular-savings/sida.ashx

26.1 You must set up a Standing Order to credit the Account monthly. The Standing
Order must be for not less than £1 and not more than £1,000. The Standing Order
can be increased or decreased within these limits

26.4 Unlimited withdrawals are permitted on the Account.

(same internet banking platform as Nat West)

alanq

alanq wrote: »

Revisited branch today to confirm all was well. I am now informed that the 2% bonus on First Reserve is not on offer to anyone who has had a NatWest instant access savings account (includes eSaver) during the past 90 days. So I was mislead on Friday. NatWest really doesn't seem to understand its own products/offers.

Thanks Dr_Cuckoo3. That information must only just have been posted online because I looked several times to find the information.

No mention in the online Ts&Cs for the bonus about 90 days without an instant access account. It merely says "The bonus interest rate offer is available to new or existing current account customers who don’t currently hold a savings account". I have a Step / Basic Bank Account and from the Ts&Cs I should be eligible for the bonus immediately my eSaver is closed. My credit file said that the Step Account was a current account and the Basic Account appears under the Current Accounts heading on the NatWest website. The staff seem to make up the information as they go along!

Also no one corrected me when I asked about a 2% bonus. Its a 1.9% bonus on 0.10%