Natwest/RBS 2.85% esaver

innovate

said 3 working days for me

myth123

innovate wrote: »

said 3 working days for me

Thanks, was a bit concerned as it said it would take 5 mins to set up, but it took me about 5 seconds after ticking a box and then clicking submit! Also I can still apply for it through my online banking page so I thought I did something wrong.

drlabman

Back last year, when the 12-month bonus period was about expire, my wife's original eSaver (the one that everyone made a fuss about, claiming the terms were misleading) had its bonus period extended until Feb 2013. It was a shock to me at the time because most people were saying theirs was only extended until Feb 2012, and it wasn't until I looked at it a few times that I realised it was saying 2013. Not sure whether to open one of these new accounts, in case the rate on the original account does drop in Feb. I suppose I could put a small amount in a new one and transfer the rest over from the original if the rate does indeed drop this time. Is anyone else in the same boat?

nilrem_2

drlabman wrote: »

Back last year, when the 12-month bonus period was about expire, my wife's original eSaver (the one that everyone made a fuss about, claiming the terms were misleading) had its bonus period extended until Feb 2013. It was a shock to me at the time because most people were saying theirs was only extended until Feb 2012, and it wasn't until I looked at it a few times that I realised it was saying 2013. Not sure whether to open one of these new accounts, in case the rate on the original account does drop in Feb. I suppose I could put a small amount in a new one and transfer the rest over from the original if the rate does indeed drop this time. Is anyone else in the same boat?

You have nothing to lose by opening another one, if they withdraw this account then refuse to extend your interest on your current one you will have a problem when it expires.

My advice is to open one now!

FWIW I now have 4 esaver accounts with Natwest and only one with money in!

buffman

I have been told that after applying for an account on line, I will receive a letter to return and sign. Please can anyone confirm that I have 28 days to return this letter to qualify for the bonus even if the offer is withdrawn.

ian912

Looking at the various other savngs accounts' terms etc, sometimes Natwest state that gross interest will be paid if an R85 is registered.

But specifically on this 2.85% esaver, it just states that interest will be paid net of 20% tax.

Does that mean it's not possible for a non-taxpayer to be paid gross interest on this account and thereby they have to claim it back from HMRC?

innovate

That's standard for all non-ISA savings accounts at all banks and Building Societies.

https://www.gov.uk/apply-tax-free-interest-on-savings

You can fill in an R85 if you are non-tax payer

innovate

buffman wrote: »

I have been told that after applying for an account on line, I will receive a letter to return and sign. Please can anyone confirm that I have 28 days to return this letter to qualify for the bonus even if the offer is withdrawn.

When I (existing NatWest account holder, with online access) applied, it said I would be able to see the account within 3 working days. Which is exactly what happened - I applied last Friday, and the account is fully operational as of this morning.

Not sure where letters and 28 days come into it - - is this for people who do not have online accounts with NatWest yet? Best perhaps to ask NatWest directly.

nilrem_2

I too applied Friday (existing Natwest online customer) but my new esaver is not showing as of this morning.

Hopefully tomorrow?

tsmiggy

I did mine of Friday,and its showing today.Infact i got carried away and clicked twice,and now i have two,and a old one,nearly off the page :rotfl: