Warning: NatWest E-Saver (from October 2012)

londonclanger

Hello folks

Just a quick word for those that took out the NatWest E-saver in October 2012 (it was an MSE best buy but was quickly over subscribed and removed) - CHECK YOUR ACCOUNT INTEREST RATE!

I just checked my online bank account and saw the interest I received was low. I popped into the local branch of NatWest and found I was actually getting only 1% and not the 2.85% I originally signed up for.

My query has gone to the "main" office for rectification and backdating of interest (according to the lady I talked to). Awaiting a call from them within two days (that's what she said).

So, if you did take out the E-Saver best check your interest rate very closely.

HNY all.

Robin_TBW

Wrong.

1% basic.
1.85% bonus.

The two interest payments are made seperately and a few days apart.

It'll probably be in there by the end of the week.

Have a look at the topics that already exist before posting a new one? - https://forums.moneysavingexpert.com/discussion/2754900

londonclanger

I rechecked my account - only one interest payment in December, so my original point stands - check carefully if you have this account.

Robin_TBW

One goes through on the last day of one month and one goes through on approximately the 4th of the next.

Example:
My interest payments for November were paid on Nov 30th and Dec 4th.

Check the previous month and see if there's one at the end and one at the start.

rb10

Robin_TBW wrote: »

One goes through on the last day of one month and one goes through on approximately the 4th of the next.

Example:
My interest payments for November were paid on Nov 30th and Dec 4th.

Check the previous month and see if there's one at the end and one at the start.

According to the opening documentation, both should be paid on the last working day of the month.

Natwest are up to their usual disorganisation levels, being consistently late in paying this interest...

charlieboycat

londonclanger - FWIW, my interest payments have been credited on the following dates (in each case only visible online the following working day):

1% - 31st October (last working day)
Bonus - 1st November (first working day)
1% - 30th November (last working day)
Bonus - 3rd December (first working day)
1% - 31st December (last working day)
Bonus - Expected 2nd January (first working day) but outstanding.

Charlieboy

RetiredInThailand

My bonus interest appeared overnight, dated the 3rd. I suspect I'm not alone.

buffman

RetiredInThailand wrote: »

My bonus interest appeared overnight, dated the 3rd. I suspect I'm not alone.

As has mine.

innovate

yep, and mine.

johnmoney05

londonclanger wrote: »

Hello folks

Just a quick word for those that took out the NatWest E-saver in October 2012 (it was an MSE best buy but was quickly over subscribed and removed) - CHECK YOUR ACCOUNT INTEREST RATE!

I just checked my online bank account and saw the interest I received was low. I popped into the local branch of NatWest and found I was actually getting only 1% and not the 2.85% I originally signed up for.

My query has gone to the "main" office for rectification and backdating of interest (according to the lady I talked to). Awaiting a call from them within two days (that's what she said).

So, if you did take out the E-Saver best check your interest rate very closely.

HNY all.

Which month did your interest get paid low? The interest rate should not get paid low suddenly if previous months were correct.