NatWest E-Isa Rate Alert

CapnBarney

Having endeavoured to be a frugal Money saver and put all my 2012-2013 allowance into the top rated natWest E-Isa as early as possible in the tax year, within a week I have received a letter from Mr Dan Jones, Head of Savings, informing me that as of 14 May, that headline rate is being reduced from 3.01% (as an existing customer) to 2.75% APR.

Needless to say I am not best pleased...as I had thought that I had made an informed decision based on the best info available at the time...

So other Moneysavers beware. The rate being advertised on the website may well not be what you receive in a very short space of time. I am well aware that it's a variable rate...but this does seem to be cocking a snook at the customer.

alternate

so transfer it

The_Enforcer

If there is a moral to this thread (and the other batch of similar Natwest threads) it is probably to think very carefully before committing a new ISA subscription to an existing variable ISA account which was originally opened more than a year previously.

lisyloo

Yes, but it's still rather cynical of them to put it up for a few weeks (??) around the end/beginning of the tax year and then put it down again.

Of course they can do that and of course it's their businessness decision, but they won't get any loyalty, long term trust if they treat people like that.
I realise that's not how the world works.
I am actually glad I'm not young right now I think I was born in a slightly nicer age.

It's still worth it for me to get 3.25%.

BTW - everyone who's got these letters says its only applying to accounts opened a while ago, so perhaps this has jumped the gun a bit.