MSE News: NatWest/RBS customers hit by Isa interest blunder

Horasio

First an interest rate drop then this

It is adios NWB

The only compo I expect is a correction in the interest so I don't lose out

puk999

Anyone remember the good old days when it was "Bank error in your favour. Collect £200"?

Travel-buddy

I have decided to claim compensation for the loss of a reinvestment opportunity and also the loss of interest on savings, which I used to plug the hole in my NatWest current account.
My real concern here is why are these glitches happening in the first place? It appears that the IT system testing and the Business User Acceptance testing of these changes made to the operational/production systems is woefully inadequate.

Money-Saving-King

Travel-buddy wrote: »

I have decided to claim compensation for the loss of a reinvestment opportunity

What investments did you make that could have otherwise had more money put into them?

Vortigern

chanz4 wrote: »

It doesnt say how we claim compo for the error

Travel-buddy wrote: »

I have decided to claim compensation for the loss of a reinvestment opportunity and also the loss of interest on savings, which I used to plug the hole in my NatWest current account.

I don't think either of the above posts was meant to be taken seriously. :rotfl:

Indie_Kid

Ah, so that explains why I only got a few pence interest. It's more around 70p a month or so.

Colin_London

Just realised I am about £50 down on my January interest :eek:


Did a webchat with an advisor and he admitted immediately that they were aware of the problem. I too had an old E-ISA account which is being moved to the new (poorer) Cash ISA account.


So I guess we have to wait and trust that they fix this tomorrow. I'll be watching carefully. It's ridiculous that they let this happen when the change has clearly been in the offing for months. We are talking £millions in mistakes here overall.

Cazza

Just checked and my interest has been paid overnight, hope others start to get theirs through now too!

Colin_London

Yes mine has now been paid too.

Hope they let us keep the erroneous amount in compensation and wonder what happens to the interest due on the missing amount for the last 5 days....

camcanary

My interest has now been paid also. When I asked someone at NW about this they said that any outstanding compound interest from the two days late payment would be applied on first business day in March as normal.