We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Natwest First Reserve

Options
123578

Comments

  • now
    now Posts: 851 Forumite
    Yep it's a full debit card, but you cannot have a salary paid into it.

    It's T&C's are very clear.

    So can you transfer money form your personal account with the coop? only why did they ask for the details of which bank you would be transferring your savings from?
    If you woke up this morning congratulations, you have another chance :j
  • jen245
    jen245 Posts: 1,606 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    You can transfer money in from any account. I have my current account with Natwest aswell, but also have Halifax accounts which I transfer money from, into my first reserve account
    Debt free and staying that way! :beer:
  • FuzzyCub
    FuzzyCub Posts: 135 Forumite
    Thanks for the tip! If applied and got the "agreed in principle" screen, just waiting for my pack.
    Empty pockets never held anyone back! Only empty heads and empty hearts can do that! ~Norman Vincent Peale
    BR 12/03/2010 ED 12/08/2010
    BSC #338
  • stuart30
    stuart30 Posts: 499 Forumite
    Im with natwest and and they didn't bat an eye lid when both myself the wife (separate accounts) went bankrupt...too say i was shocked at there lack of concern is an understatement.

    Ok so not the say as opening an account...but still would have thought they would have been even slightly interested.
  • kepar
    kepar Posts: 1,297 Forumite
    stuart30 wrote: »
    Im with natwest and and they didn't bat an eye lid when both myself the wife (separate accounts) went bankrupt...too say i was shocked at there lack of concern is an understatement.

    Ok so not the say as opening an account...but still would have thought they would have been even slightly interested.

    Did the OR not close the accounts???????????
  • stuart30
    stuart30 Posts: 499 Forumite
    kepar wrote: »
    Did the OR not close the accounts???????????


    Nope..he had all the details obviously,but has never closed them nor even asked for any bank statements.:eek:

    Went BR on 3rd myself and wife on 6th september 2010.
  • now
    now Posts: 851 Forumite
    jen245 wrote: »
    You can transfer money in from any account. I have my current account with Natwest as well, but also have Halifax accounts which I transfer money from, into my first reserve account
    That is great, can't understand why the company I work for would not be able to bacs my wages in then as is that not the same as transferring money from your own account?
    If you woke up this morning congratulations, you have another chance :j
  • jen245
    jen245 Posts: 1,606 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    now wrote: »
    That is great, can't understand why the company I work for would not be able to bacs my wages in then as is that not the same as transferring money from your own account?

    Not sure about that, as I think that although salaries are sent by BACS, it is different to a normal BACS transfer between bank accounts, I believe its called a BACS direct credit, and is used only for salary payments. To be honest I wouldnt chance it, as if Natwest dont allow the payment into the account, you could be left with no money
    Debt free and staying that way! :beer:
  • Twister84
    Twister84 Posts: 525 Forumite
    Part of the Furniture Combo Breaker
    jen245 wrote: »
    For someone who works for Natwest, you don't seem to know a lot about their products! Let me repeat myself again, the card that comes with the first reserve account, is a BLUE FULL AUTHORISATION VISA DEBIT CARD. I've had the account for 4 years, it used to be a solo card which was also a debit card, but last year they sent me a blue visa debit card to replace it. I can withdraw from atms, use it in shops, get cashback at the supermarket with it, shop online, things you can do with most visa debit cards. My husband also has 2 of these accounts, and so has 2 debit cards!

    natwest.com/personal/savings/g1/instant-access/first-reserve.ashx

    See at the bottom where it says cash withdrawals, with an optional DEBIT card.

    Please could you quit using CAPS in your posts? It is seen as shouting...if you need to highlight something, make it bold/italicize it.

    Now bank on topic...

    In my defense, I come from an RBS background and no savings accounts ever came with a Visa Debit. From a banking point of view, I completely agree with this. Also you make recall sometime last year, after a long time, they stopped customer from setting up direct debits & standing orders from savings accounts. This was to encourage saving, which is what the account is for.

    Secondly, I am not customer facing and I'm not required to be knowledgeable about such accounts.


    As for your other comment regarding the description on the Natwest website, it states:

    Cash machine withdrawals – with an optional debit card you can get your money at cash machines displaying the logo shown on your card


    See how the fact that it is a Visa Debit card is not being promoted? I would personally see that as a feature of the account, yet it is not listed in the benefits. I wouldn't be surprised if they eventually phase it out.


    Lastly, Step accounts can be opened if you have been discharged from bankruptcy, so I'd open it in person if you wish to, and take your discharge documents with you.
    Anything that I do say, is strictly my opinion :p
  • Ineedaname
    Ineedaname Posts: 3,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Twister84 wrote: »
    Cash machine withdrawals – with an optional debit card you can get your money at cash machines displaying the logo shown on your card

    If I were looking for a savings account and read the above I would take it that it meant I could choose to have a debit card and would be able to use that card for cash withdrawals as well.

    It's an old phrase from back when debit cards were first introduced and didn't have cash machine withdrawal facilities on them. You had to have a debit card and a cash card if I remember right. It was only for a very short time and then they managed to integrate the two cards into one.

    A debit card is a debit card, used for purchases and your account is debited for the payment. A cash card is just that, for withdrawals at bank or machine. I've never heard of a debit card that is only a cash card.
    When I joined, I needed a name. The forum members gave one to me...I am INAN :D
    "Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.