More NatWest dirty tricks

SimpleSimon_2

I saw the NatWest advert on TV offering 3.9% for a 2 year fixed rate ISA. This was for a transfer in from another provider with the basic, non transfer in rate of 3.5%.

Luckily I was transferring in so I thought the offer was good and started the transfer process. This seemed to be going well via the Internet but then I noticed there was a very tight deadline so I continued the application at branch.

Anyway, after 3 visits to the branch with lots of different paperwork to prove who I was, the account was opened. This was late February and there is a small con whereby the rate does not start until the new financial year.

Now were in the new financial year and I've received my Certificate of Deposit which documents the interest rate amongst other things. Guess what, the interest rate shows 3.5%.

I got on the phone first thing and after being passed around numerous departments I finally got someone that had access to the relevant information. She went further to try and tell me that the interest rate was higher than it should be and knew nothing of a TV advert or the offer of a preferential interest rate for transferring in.

Luckily, when I was at the branch I picked up the leaflet which documented the offer. I quoted this documents number and she said it didn't exist in the system.

I've now arranged an appointment at the branch to try and sort this out. I'm guessing that this would have happened to more people so beware. I'll post more after my visit to the branch.

This really is an appalling service considering the number of times I had to physically visit the branch.

I think I'm tied in for 2 years now but I'm afraid I'll be moving it afterwards.

innovate

Two-pronged approach if you qualify for the 3.9%:

1. insist that they confirm in writing that you will get the advertised interest rate. And ask for compensation for your time and effort needed to make them deliver on their promises
2. report them to the ASA

SimpleSimon_2

I've now been to the branch and the situation is somewhat resolved.

The person I spoke to, the manager I think, was aware of the problem and had already dealt with the issue for other customers. She agreed that the notion that the TV ad and marketing campaign didn't happen was ludicrous as she remembered seeing it on TV herself.

She proposes to get revised paperwork to me so that, at the end of the two years, there will be no doubt as to the interest I should expect.

My feeling from this experience is that the people at branch level know what they are doing but the people in customer support are little better than trained monkeys.

I doubt I will report them to the ASA but I will be voting with my feet in two years time.