Can't withdraw money from NatWest accounts!

Southend1

I have an e-Isa with NatWest. As I am trying to buy a house I will need to withdraw a large sum in the near future for my deposit. I'm glad I looked into how to go about this in advance as I have hit upon a bit of an issue....

I can't transfer the money to my Barclays current account as NatWest requires a card and card reader to do this. The e-Isa is not eligible for a card. I can't transfer the money using telephone banking- they advised me it could be done in branch. I went to the branch to enquire and there are only two options for me:

1) Open a Natwest current account, transfer the money into it and then transfer it from the current account to Barclays.

2) Pay 23.00 for a CHAPS transfer to my Barclays account.

I can't open a new current account as this will be credit checked and I am paranoid that this will mess up my mortgage application. So I have no option but to pay the CHAPS fee and then try to get it back by making a complaint. The branch staff were very sympathetic and said they would help me to make a complaint if I do it this way, but I can't believe that it's such a convoluted process to actually get any money out of this account!

Anyone else come accross this issue before? If so how did you resolve it?

ceh209

How did you get a Natwest e-ISA in the first place? I thought you had to have a Natwest current/other savings account to link it to to withdraw money, did you never have this?

Southend1

I have another online savings account with them which I had to open so that in the event of trying to pay too much into my Isa they would put the money in that account. However the situation is the same with regard to withdrawals from that account.

I think I opened the e-Isa with a cheque from the FSCS after I lost all my money in an Icesave Isa when it went bust. So that may be why there is no other account linked to the NatWest account.

Geoff23

Southend1 wrote: »

I have an e-Isa with NatWest. As I am trying to buy a house I will need to withdraw a large sum in the near future for my deposit. I'm glad I looked into how to go about this in advance as I have hit upon a bit of an issue....

I can't transfer the money to my Barclays current account as NatWest requires a card and card reader to do this. The e-Isa is not eligible for a card. I can't transfer the money using telephone banking- they advised me it could be done in branch.

Hi. I have had pretty much exactly the same problem with them two days ago. I wanted to draw some money out of an internet savings account, but this could only be done via a current account for which I have no card. So I have to order a card and a card reader, which takes 15 days to deliver. Really helpful, not. I received no warning about any of this. I assumed I could just do everything over the internet, given that it was an internet saver account...

I can't open a new current account as this will be credit checked and I am paranoid that this will mess up my mortgage application. So I have no option but to pay the CHAPS fee and then try to get it back by making a complaint. The branch staff were very sympathetic and said they would help me to make a complaint if I do it this way, but I can't believe that it's such a convoluted process to actually get any money out of this account!

Tell me about it...

Anyone else come accross this issue before? If so how did you resolve it?

I ended up having to walk about with £5000 cash in my pocket in order to transfer it to my normal current account at Lloyds. They allowed me to withdraw cash at the branch if I provided them with a passport for ID.

Southend1

Geoff23 wrote: »

I ended up having to walk about with £5000 cash in my pocket in order to transfer it to my normal current account at Lloyds. They allowed me to withdraw cash at the branch if I provided them with a passport for ID.

I will have to go down the CHAPS route, there's no way I'm walking out the bank with 30,000 quid in my pocket!

Seems pretty basic that you should be able to get money out of a bank account, I can't believe NatWest haven't worked this out!

Lokolo

Southend1 wrote: »

I will have to go down the CHAPS route, there's no way I'm walking out the bank with 30,000 quid in my pocket!

Seems pretty basic that you should be able to get money out of a bank account, I can't believe NatWest haven't worked this out!

Wuss

ceh209

Southend1 wrote: »

I have another online savings account with them which I had to open so that in the event of trying to pay too much into my Isa they would put the money in that account. However the situation is the same with regard to withdrawals from that account.

I feel a complaint to Natwest coming on.

Seriously? What savings account is it? They won't let you do a BACS transfer from that to your Barclays current account? :eek:

Southend1

Lokolo wrote: »

Wuss

:rotfl:

Seriously though, I wouldn't even walk around Southend with 30 pounds in my pocket it's so dodgy here!

Southend1

ceh209 wrote: »

I feel a complaint to Natwest coming on.

Seriously? What savings account is it? They won't let you do a BACS transfer from that to your Barclays current account? :eek:

It's an e-Isa. No I have been told you can't do a BACS transfer. The only options are the two I detailed above!

ceh209

I mean the other savings account you had to open when you opened the e-ISA, what is that one called?

wriggly

Southend1 wrote: »

I have another online savings account with them which I had to open so that in the event of trying to pay too much into my Isa they would put the money in that account. However the situation is the same with regard to withdrawals from that account.

I think I opened the e-Isa with a cheque from the FSCS after I lost all my money in an Icesave Isa when it went bust. So that may be why there is no other account linked to the NatWest account.

Do you have a blue and red on-line banking card for the non-ISA savings account? This is different to a debit card, and I would expect it to work (along with a card reader) for all your online accounts.

Using that card, you can link a non-NatWest account to your accounts.