Natwest/RBS 2.85% esaver

a_username_2

I've got a strange problem with this,i opened one over 2 weeks ago,today i have got a statement saying 'account opened' 30 Oct??

I have also got as part of my statement a notification of the interest rate on the account,it says aer 1.82% gross rate 1.81% and net rate 1.45%
That is surely wrong isn't it,i can't get to a branch till during the week.

Have i been done!?

ETROL

a_username wrote: »

I've got a strange problem with this,i opened one over 2 weeks ago,today i have got a statement saying 'account opened' 30 Oct??

I have also got as part of my statement a notification of the interest rate on the account,it says aer 1.82% gross rate 1.81% and net rate 1.45%
That is surely wrong isn't it,i can't get to a branch till during the week.

Have i been done!?

No your OK

I just rang customer services and they say that some paperwork has gone out incorrectly showing only the bonus rate and in some instances only showing the base rate

They stated that any account applied for before november will earn the full rate inc bonus

a_username_2

ETROL wrote: »

No your OK

I just rang customer services and they say that some paperwork has gone out incorrectly showing only the bonus rate and in some instances only showing the base rate

They stated that any account applied for before november will earn the full rate inc bonus

Ok nice one,thanks for the reply.:beer:

SnowMan

a_username wrote: »

I've got a strange problem with this,i opened one over 2 weeks ago,today i have got a statement saying 'account opened' 30 Oct??

I have also got as part of my statement a notification of the interest rate on the account,it says aer 1.82% gross rate 1.81% and net rate 1.45%
That is surely wrong isn't it,i can't get to a branch till during the week.

Have i been done!?

I received an incorrect statement also.

The account opening date of 23rd October 2012 was wrongly shown as 30th October.

And the AER, gross and net were wrongly shown as 1.82%,1.81% and 1.45% respectively (i.e excluding the 1%)

When I rang to query this they tried to persuade me that '30th October: account opened' meant account opened before 30th October :rotfl:

And that they 'obviously' couldn't include the 1% variable element in the interest rate payable because it was variable. I pointed out the corollary of this was that they obviously could never tell anyone what interest rate they were being paid on a variable account :rotfl:

They also initially said that I hadn't been paid bonus interest on 31st October because bonus only starts from the 15th of the following month :rotfl:

I got so frustrated with them that I registered a complaint.

They are now sending me out a letter giving the correct information.

They seem to have a particular skill for making the simple inordinately complex.

johnny_storm

RetiredInThailand wrote: »

Exactly the same happened to me. My previous bonus on an esaver expired at a time when no bonus was being offered, so I immediately moved everything to a Santander esaver.

Since then NatWest has offered no bonus on their esaver, and presumably has lost many deposits as a result (and, more importantly, annoyed a lot of people).

Me too (from last time.) So I moved all the money to the post office.

Its annoying though to have to close an account and open a new one every 12 months to get a pittance of interest.

ihr

What a palaver.

I applied for this account on the 22nd, was stalled by an id check request, and then got the letter through quoting the 1% rate rather than the 1% plus bonus. Put off, i didn't bother sending my id to finalise my application, but now i see from this forum that my application may still be eligible for the bonus.

Does anybody know whether, if i send my id now, they will count my account opening date as the date I applied online or the date they receive my id (in which case I guess there is no point applying)?

nilrem_2

ihr wrote: »

What a palaver.

I applied for this account on the 22nd, was stalled by an id check request, and then got the letter through quoting the 1% rate rather than the 1% plus bonus. Put off, i didn't bother sending my id to finalise my application, but now i see from this forum that my application may still be eligible for the bonus.

Does anybody know whether, if i send my id now, they will count my account opening date as the date I applied online or the date they receive my id (in which case I guess there is no point applying)?

Put it this way....What have you got to lose?

As you are in the system in the specified time zone they might well honour the bonus, if they don't offer the bonus then you can either cancel the account or just not bother using it.

I would say Go for it.

ihr

nilrem wrote: »

Put it this way....What have you got to lose?

As you are in the system in the specified time zone they might well honour the bonus, if they don't offer the bonus then you can either cancel the account or just not bother using it.

I would say Go for it.

That is an excellent point. I will go for it. Thanks.

RetiredInThailand

ihr wrote: »

Does anybody know whether, if i send my id now, they will count my account opening date as the date I applied online or the date they receive my id (in which case I guess there is no point applying)?

The online acceptance message I saw was very specific (and I took a screen grab):

Your application has been submitted and agreed in principle. It will be valid for the next 28 days.
Next Steps:
1. You will receive your application pack in the post in the next few days
2. Follow the instructions within the covering letter in your pack
3. Check and sign the application form
Return all relevant paperwork, including original copies of any paperwork requested, within the pre-paid envelope as soon as possible
4. Once we receive your paperwork, we'll complete your application and send you your account number.

juliaw

I applied for the NatWest e-saver online and had already transferred money into the account on 29 October.

The website says that the interest rate is 1% gross. A postal statement dated 30 October shows an interest rate of 1.81%. My online statement shows that interest has been paid on 31 October and a bonus paid on 1 November.

To ask what rate / bonus would be paid out in future I phoned the helpline today 4 November, and was told 1%; I did not qualify for any bonus.

It is clear that they will only be paying out 1%, due to some excuse or other.

I have withdrawn all the money from this account.