RBS - Strange Account

KorkyKat

alanq wrote: »

I wouldn't touch any account without written details. There are more than enough disputes regarding Ts&Cs with NatWest / RBS accounts even when written details ARE provided. (e.g. the confusion about eSavings accounts).

Cheers Alan, that's how I feel. Despite being with them for most of my working life I wouldn't trust them with one of Goodwin's pink wafer biscuits.

Twister84

Autotransfers are now only for Private customers.

KorkyKat

What's a private customer Twister? And should private customers not be given something in writing?

What would happen if you made a withdrawal and it wasn't transferred over? Would they impose an overdraft surcharge even if it is their fault? Who determines how much should be in the so called 'savings account'? What is the floor-ceiling level?

No rules - no play.

Twister84

KorkyKat wrote: »

What's a private customer Twister? And should private customers not be given something in writing?

What would happen if you made a withdrawal and it wasn't transferred over? Would they impose an overdraft surcharge even if it is their fault? Who determines how much should be in the so called 'savings account'? What is the floor-ceiling level?

No rules - no play.

I'm not sure what you mean.

http://www.natwest.com/private.ashx - feel free to have a read.

Twister84

alanq wrote: »

I was in Brighton at the weekend. The Natwest branch had leaflets out for an account (as far as I recall) paying 0.1% but with a 1-year 2% bonus. I didn't bother picking up a leaflet as I assumed I would get details online or in my local branch. When I looked I found no trace. Do "special" accounts exist that can only be applied for at selected branches?

I wouldn't touch any account without written details. There are more than enough disputes regarding Ts&Cs with NatWest / RBS accounts even when written details ARE provided. (e.g. the confusion about eSavings accounts).

That is correct.

Both RBS Instant Access Savings Accounts and Natwest First Reserve's are giving a bonus rate. The criteria is that you must not already have an IASA or FR account. There may also be other criteria which need to be met. (This offer is for Private Banking customers too but the criteria and method of application is very different)

I've noticed it's not online too, so I would speak to your branch about it.

KorkyKat

Cheers Twister. Nat West

"NatWest Private is available to all customers with a sole income of over £100,000 (or joint income of £150,000) paid into your NatWest account or savings of over £50,000 held with us."

£100,000!! Cripes, I'd be able to switch on the central heating an hour earlier if I had that much money!

:j

chambta

As Twister rightly says the only issue is the branch cannot now set up these arrangements! It's not a bad option at least for the year though as the current accounts all now pay no interest.

I've personally set up hundreds of these arrangements over the years and never had anyone ask for the 'terms and conditions'.

jalexa

KorkyKat wrote: »

I'd be able to switch on the central heating an hour earlier if I had that much money!

I'm not so sure 0.1% interest on £50,000 would let you do that.

Twister84

chambta wrote: »

It's not a bad option at least for the year though as the current accounts all now pay no interest.

Apart from Advantage Private & Black

chambta

Twister84 wrote: »

Apart from Advantage Private & Black

I should have left out the word 'all'.