Natwest- what a joke

jen245

I think Natwest must have changed their account range at some point, and not updated their T&Cs, because their current T&Cs show 2 different accounts, e-savings and e-savings plus (which doesnt reflect what they offer on the website)

noh

jen245 wrote: »

I think Natwest must have changed their account range at some point, and not updated their T&Cs, because their current T&Cs show 2 different accounts, e-savings and e-savings plus (which doesnt reflect what they offer on the website)

True the e-savings plus is currently not offered but I have had an e-savings account since October 2008 and it has always been possible to make payments by FP or BACs to any UK bank account. That was one of its attractions along with the bonus interest rates they ocassionly offer.

I think the confusion is in the meaning of the term used in the following sentence:-

"(b) by third party mandate to any other UK bank account."

I believe a FP or BACs transfer to be a "third party mandate"

vacheron

I had a similar problem with Natwest and e-saver accounts.

Following the bank run on Nothern Rock a few years back I went to my local Natwest to transfer my ISA (33K) to them and also opened an e-saver account into which I transferred a further 17K to protect myself under ther £50K FSCS compensation limits in force at the time in case of any further banking "problems".

When I came to close the Natwest accounts to fund my offset mortgage I moved the ISA without problems using the ISA transfer out form, however when I came to close the e-savings account the tellers at the branch (including the manager) could find no earthly way of transferring the funds in the e-saver account as I had no current account with them.

The result: In a large UK city in 2010 the only way that Natwest could find for me to transfer my money to another major high street bank was for them to stuff my laptop bag with 17K in cash which I then had to carry half a mile across the city centre to my other bank which I then had to deposit as cash across the counter like Arthur Daley! :doh:

Extraordinary!

Bored

I've been transferring money from my e-saver to other bank accounts through online payments for a few years now with no problems.

noh

vacheron wrote: »

....the ISA transfer out form, however when I came to close the e-savings account the tellers at the branch (including the manager) could find no earthly way of transferring the funds in the e-saver account as I had no current account with them.

The result: In a large UK city in 2010 the only way that Natwest could find for me to transfer my money to another major high street bank was for them to stuff my laptop bag with 17K in cash which I then had to carry half a mile across the city centre to my other bank which I then had to deposit as cash across the counter like Arthur Daley! :doh:

Extraordinary!

Not surprising . As said previously it is an online only account simply log on and transfer your money to another UK bank. No need to even leave home.

vacheron

noh wrote: »

Not surprising . As said previously it is an online only account simply log on and transfer your money to another UK bank. No need to even leave home.

Fear not, as I've done almost all my banking online for at least the last 10 years this was the first thing I tried.
The result when I tried to enter the details of a non Natwest account: "Online transfers are not authorised from this account. Please contact our telephone banking team on "xxx xxxxxxxx" or visit one of our branches"

I still have the screendump of the message which I printed and took to the branch with me.

Telephone banking said to pop into the branch, branch were out of ideas, hence the rather silly resolution!

Bored

vacheron wrote: »

Fear not, as I've done almost all my banking online for at least the last 10 years this was the first thing I tried.
The result when I tried to enter the details of a non Natwest account: "Online transfers are not authorised from this account. Please contact our telephone banking team on "xxx xxxxxxxx" or visit one of our branches"

I still have the screendump of the message which I printed and took to the branch with me.

Telephone banking said to pop into the branch, branch were out of ideas, hence the rather silly resolution!

That's really strange. Just a guess, but did you have a Natwest card reader? I always have to use the card reader for confirmation when I make payments online.

vacheron

Bored wrote: »

That's really strange. Just a guess, but did you have a Natwest card reader? I always have to use the card reader for confirmation when I make payments online.

Yes, I had the card reader, still have it in the drawer. It wouldn't even let me get to the verification stage because as soon as I pressed the transfer money button I got the above message.

From reading this thread I think there must have been some kind of mess up when they were initially setting up the e-saver account as it was half done in branch and then I was told that I had to go home and wait for the e-mails etc and then complete it online from there. Perhaps something got confused along the way.

Still, it was worth it for the 7.35% they were giving me on my ISA at the time. I fear it will be many years before we see those days again.

c0c0nuts

Just wondering- but given that your card was blocked for use and is needed in the card reader to proceed, could that be the reason the txn wouldn't go through?

MamaMoo_2

c0c0nuts wrote: »

Just wondering- but given that your card was blocked for use and is needed in the card reader to proceed, could that be the reason the txn wouldn't go through?

My debit card actually wasn't blocked for use, it was my old (cancelled) card that was blocked. My new one, for some reason, couldn't be used with the card reader, and apparently never will work with it. I've now got a second card, which can only be used with the card reader. It seems rather pointless to me!