Natwest/RBS 2.85% esaver

iltisman

Adzha wrote: »

Just spoken with Natwest to see if they would consider extending the bonus period further or had any other decent savings accounts.

Information given was that 'bonus periods were selected randomly' and by my letter stating the bonus period will end, there is nothing else they can do.

Discussed Virgin and Santander accounts yet best instant access offering was 1% - advisor understands this will be moved elsewhere.

Oh well - worth a try!

Random seems a strange way to run a business I suspect it may be based on amount paid into current account each month rather than the amount in an esaver.

rb10

iltisman wrote: »

Random seems a strange way to run a business I suspect it may be based on amount paid into current account each month rather than the amount in an esaver.

I don't expect so. I pay zero in and was offered the 3.12% account.

It'll most likely be based on a statistical analysis of which customer profiles are most likely to make the bank the most money ... and so who they want to focus developing a relationship with.

This'll be based not only on the amount you currently and have previously held with the bank, but on all the other bits of information they hold about you as well.

nilrem_2

If they do decide to randomly select accounts in which to extend the bonus it's pretty damn stupid IMHO, I had a large amount in there which is all being moved to N/rock, their loss not mine!

zermattbusby

nilrem wrote: »

If they do decide to randomly select accounts in which to extend the bonus it's pretty damn stupid IMHO, I had a large amount in there which is all being moved to N/rock, their loss not mine!

All seems in order now with my N/Rock a/c thanks nilrem, the 2 pound test transfer showed up last night. When do you think its safe to transfer the first 10k? Should I wait for a formal welcome first?

nilrem_2

zermattbusby wrote: »

All seems in order now with my N/Rock a/c thanks nilrem, the 2 pound test transfer showed up last night. When do you think its safe to transfer the first 10k? Should I wait for a formal welcome first?

As your £2.00 went through ok that indicates that it's all working properly so I would say you can transfer as soon as you wish.

As I say though if you transfer £10k now you will be unable to do another amount until Tuesday, (same as if you do the transfer Monday).

eviekins

oldvicar wrote: »

Brand reputation for customer service? These two are at opposite ends of the scale.

You're right. I'd heard their customer service record was bad but after looking at the reviews it was rather off putting to say the least. Although they did mainly seem to be regarding current accounts, but still.
I'm now looking at monmouthshire bs for 12k of my savings, but still very undecided! What a headache! Wish Natwest would sort their act out! With them its just so easy, I literally just transfer the money over from my natwest current to my savings in seconds on an app on my phone, hassle free - until now anyway. Grrr!

MGCP

I'm also feeling quite annoyed with Natwest about this.

I've had e-savings accounts with them for a while now and do the majority of my banking with them (I've got a current account and cash ISA with them too). Unfortunately though my e-savings bonus is also due to expire this month so I need to find a new home for the £20k I kept in there (whereas if they had extended the bonus for a year I would have been moving another £16k in from different bank).

I'm sure it is all carefully worked out etc etc and they don't really give a toss about losing my money but it is extremely annoying as I also appreciated the convenience of being able to manage as many of my accounts as possible from one website (or via their app which I think is very well designed).

eviekins

I have my ISA with them too, but now that I'm forced to branch out to different banks ill be transferring my ISA too. It's paying 2% when I can get 3% easily. Natwest also had leaflets in their branch recently that offered people to switch their ISAs from another bank to them and they would give a return of 3.7%, but only if switching from another bank. This was another move by Natwest that wound me up!!

Ximian

I need to move my money from Natwest, have the e-saver account with the extended bonus which expires this month. I have had a look at the top paying instant access accounts and I'm considering the BM Savings account but I have read this thread and a few others and I don't see much mention about the BM Savings account, but more mention for the Northern Rock account. I know that the NR account is clean but was wondering why most savers would choose NR over BM. I've never saved with BM before, is there a reason not to?

buffman

I suspect that the reason is the rates on the BM Online Extra are tired. To get 3.2% AER, a balance of £50k is required. Balances of under £20k gets only 2.6% AER.