Natwest/RBS 2.85% esaver

Midzone

How many e-saver accounts can you have with NatWest?

mrschaucer

Quote: "2) She gave us a printout of an (internal?) Natwest document that we've not found anywhere on the internet referring to the 1.85% bonus being extended for a whole year to 15 Oct 2012 but only for those 'who opened an account [on] 29 or 30 sept 2010 and had an initial bonus for 12 months starting 15 October 2010'." Unquote

Yup, sounds like me. Account opened on 30 Sept.

worldtraveller

Midzone wrote: »

How many e-saver accounts can you have with NatWest?

I don't know, but I've had two running at the same time a few times in the past, the second taking advantage of the latest deal on the interest rate, then transferring funds from the old one to the new one, which has offered significantly better rates, and then closing the earlier one.

nilrem_2

Midzone wrote: »

How many e-saver accounts can you have with NatWest?

I have 3, one the original issue with Zero balance, a second one with just 1 penny and a third with a considerable balance, I should have closed the two defunct ones but never seem to get around to doing so!

eviekins

I have 2 e-savers. When the rate went down last year I opened a new one which offered a better rate. Like Nilrem I never got round to closing the original account. Don't imagine it matters though. There haven't been any transactions with it on over a year so presume its dormant.

mrschaucer

Just bumping this for worldtraveller. Was it 5 days or 5 working days?!

worldtraveller

mrschaucer wrote: »

Just bumping this for worldtraveller. Was it 5 days or 5 working days?!

I would assume it's 5 working days. No call yet!

worldtraveller

OK, I've now received a letter from NatWest customer services which reads as follows:

Dear worldtraveller

.....The way that interest and the bonus payments are applied to e-savings accounts have changed.

As your account was opened on the 29th or 30th September 2010 you were given a 12 month bonus extension. Your original bonus finished on the 14th October 2011 and your new bonus began on the 15th October 2011.

Previously your account would have received TWO interest payments on the day that the interest is applied. One payment would be your monthly interest amount for the standard variable rate. You would also have received a seperate payment for the bonus.

For the bonus extension you will now see the bonus and the interest credit your account as ONE amount instead of two separate credits.

Now your new bonus has begun you will see the interest and bonus credit your account as follows:

Interest - Standard variable rate up until the 14th October and then standard variable rate and bonus combined from the 15th October.

Bonus - Bonus interest rate up until the 14th October.

I am very sorry for any confusion this may have caused you......

So, as it seemed, there is now only ONE combined interest rate. However, why NatWest didn't just simply point this out at the time of the extension offer, who knows? It's left a lot of people with a query, which could have easily been avoided.

Anyway I hope this clears it up for everyone.

mrschaucer

Thanks, worldtraveller, it's good to get that sorted out. But I foresee the self-same thing happening again if they do this for those people opening their accounts in October. I wonder if they will get their 2 interest payments merged at the end of Dec without being notified in any way.

gocat

Im sure I opened my account beginning of October 2010 but got my interest combined in one lot last month too.