NatWest Savings Builder - no longer withdraw online

ashteadgirl

Just discovered that you can only move money from this account online if you have a current account with Nat West
I have had this account for over 2 years and used online withdrawals to my non NW current account fairly frequently.
I have had no notification of this change - has anybody else had updated T and C's???? Not a thing either in the post or email.
Be very interested to know if anyone else knows about it because just wonder if they have tried to slip this under the radar. When I log on looks like it will be all ok and just at the last screen says this is unvailable transaction.
TIA of replies

st182

I bank with NatWest and I've seen the change too. I have an instant saver, a premium saver and a savings builder- all of those appear to have now lost the ability to transfer out directly- I have to shift to my current account and do it from there. The only product I seem to still be able to do that with is my cash ISA, that appears to still have the facility to transfer directly out. I'm sure i recieved comms of some sort- think it was an app based update or similar which informed me of the change.

MovingForwards

The t&C's have had said must have, or be opening, a current account. It's been like that since at least August 2019.

It also says it must be paid into a current account held with them.

surreysaver

I have the Savings Builder and a Current Account. I do remember being notified of the change, but cannot remember when.

Jami74

I'm sure I remember getting a 'We're changing the way....' letter ages ago. Something about not being able to make certain types of payments from it.

There's been a lot of those sorts of letters lately with the overdraft changes.

johnmoney05

ashteadgirl wrote: »

Just discovered that you can only move money from this account online if you have a current account with Nat West
I have had this account for over 2 years and used online withdrawals to my non NW current account fairly frequently.
I have had no notification of this change - has anybody else had updated T and C's???? Not a thing either in the post or email.
Be very interested to know if anyone else knows about it because just wonder if they have tried to slip this under the radar. When I log on looks like it will be all ok and just at the last screen says this is unvailable transaction.
TIA of replies

I just knew this from your post. I only got this account without their current account.


Could I know how you can transfer out the money now?


Just checked online, you can only withdraw your money at Branch or transfer out to their current account. I am going to close it then!

MovingForwards

johnmoney05 wrote: »

I just knew this from your post. I only got this account without their current account.


Could I know how you can transfer out the money now?

Into your NW current account and then on to where you want it to go.

ashteadgirl

Jami74 wrote: »

I'm sure I remember getting a 'We're changing the way....' letter ages ago. Something about not being able to make certain types of payments from it.

There's been a lot of those sorts of letters lately with the overdraft changes.

Thanks perhaps I missed it but I am a sad organised person that files all those letters and it is not in the Natwest file :mad:

ashteadgirl

johnmoney05 wrote: »

I just knew this from your post. I only got this account without their current account.


Could I know how you can transfer out the money now?


Just checked online, you can only withdraw your money at Branch or transfer out to their current account. I am going to close it then!

Think closure is the best options as I do not need yet another current account,