Nat West E-ISA January Interest

fozziebeartoo

My E-ISA was transferred to Virgin yesterday.

Just chasing up with Nat West where my January 2014 interest is and they say they have been struck by a mystery problem and 1/2 a million people have the wrong (or no) interest for last month.

Just posting to save others waiting on the phone lines to ask the same question.....

girl_afraid

Thank you, just noticed my interest is wrong for this month, saved me a phone call, hopefully they'll sort it out soon

knack92

I noticed I had not received January interest on my (what was) RBS E-ISA. I checked the terms for the Instant ISA and see that interest is paid annually instead. Hopefully not going to run into a problem when I transfer.

littlemissbossy

Thanks for the heads up, saves me a nasty surprise later.

lisyloo

they say they have been struck by a mystery problem

It's not a mystery I'm afraid.
It's called cost cutting.

Alias_Omega

Same here x2

£16 interest became £1.00 odd

ayayay

This month is the first in which my interest rate is cut to 1.5% with .3% bonus pa.

Seems the oafs can't even get that right, I work out they've actually paid the equivalent of 0.15% with 0.03% bonus.

Apparently it will be sorted in the next 2 or 3 days.

p00hsticks

ayayay wrote: »

This month is the first in which my interest rate is cut to 1.5% with .3% bonus pa.

Seems the oafs can't even get that right, I work out they've actually paid the equivalent of 0.15% with 0.03% bonus.

Apparently it will be sorted in the next 2 or 3 days.

The switch from e-ISA to Cash ISA was supposed to happen on 31st January, and this seems to be what has caused the problem - you should have got a months interest paid at the old rates prior to the switch. Instead, they appear to have switched it and then just paid a couple of days interest at the new rate.

I'm currently down about £125

apple_mac_user

i also noticed i got £0.09 instead if my huge lump sum of just over £1.00

apple_mac_user

p00hsticks wrote: »

I'm currently down about £125

£125 from a savings account in 2014

you must have like a million pounds in there

Alias_Omega

apple_mac_user wrote: »

£125 from a savings account in 2014

you must have like a million pounds in there

No, calculates to be about £78,000