Banks roundup feature.

RG2015

Rob5342 said:

RG2015 said:

k_man said:

Thumbs_Up said:

Rob5342 said:

What contribution? It's all coming from your account.

I’m with NatWest, it works like this, you spend £1.25 on a chocolate bar the bank rounds it up and puts 75p into the digital savings account. So not only do you enjoy the chocolate bar NatWest will give you 75p. What’s not to like. Keep the savings account below £1000 and you get 3.30% . And you can add £150 a month.

 

Are you sure NatWest give you 75p?
For most other banks the round up comes from the same current account as the initial transaction.

The post is perhaps poorly worded, but nobody in their right mind would think that the bank gives you the round up pennies.

The post says Natwest give you 75p, it's not badly worded it's simply wrong.

Of course it’s wrong, but it is also badly worded.

Do you really believe the poster thinks that the banks fund the round up themselves?

Thumbs_Up

My complements to NatWest you certainly had me fooled with this conjuring, sleight of hand, smoke and mirrors trick, clearly members of the magic circle.

The question I have to ask is how did you do it? Where did this magical 75p emanate from? The account has no interest added to it.

k_man

Thumbs_Up said:

My complements to NatWest you certainly had me fooled with this conjuring, sleight of hand, smoke and mirrors trick, clearly members of the magic circle.

The question I have to ask is how did you do it? Where did this magical 75p emanate from? The account has no interest added to it.

I think we can all agree, that clarifies everything 😋

soulsaver

RG2015 said:

Rob5342 said:

RG2015 said:

k_man said:

Thumbs_Up said:

Rob5342 said:

What contribution? It's all coming from your account.

I’m with NatWest, it works like this, you spend £1.25 on a chocolate bar the bank rounds it up and puts 75p into the digital savings account. So not only do you enjoy the chocolate bar NatWest will give you 75p. What’s not to like. Keep the savings account below £1000 and you get 3.30% . And you can add £150 a month.

 

Are you sure NatWest give you 75p?
For most other banks the round up comes from the same current account as the initial transaction.

The post is perhaps poorly worded, but nobody in their right mind would think that the bank gives you the round up pennies.

The post says Natwest give you 75p, it's not badly worded it's simply wrong.

Of course it’s wrong, but it is also badly worded.

Do you really believe the poster thinks that the banks fund the round up themselves?

I'd say it was blindingly obvious from their 2nd post that is what s/he thinks. 

Thumbs_Up

I’m not looking for answers for the "magic bullet" theory. I'm not asking where was "Steiner" All i'm asking where does this 75p materialize from.

Stenwold

Thumbs_Up said:

I’m not looking for answers for the "magic bullet" theory. I'm not asking where was "Steiner" All i'm asking where does this 75p materialize from.

From your current account - it's your money being rounded up, it's just a different way of saving a few quid each month.

k_man

Stenwold said:

Thumbs_Up said:

I’m not looking for answers for the "magic bullet" theory. I'm not asking where was "Steiner" All i'm asking where does this 75p materialize from.

From your current account - it's your money being rounded up, it's just a different way of saving a few quid each month.

This should be clear from a list of transactions or a statement.

https://forums.moneysavingexpert.com/discussion/comment/79196917/#Comment_79196917

Thumbs_Up

Rob5342 said:

RG2015 said:

k_man said:

The post is perhaps poorly worded, but nobody in their right mind would think that the bank gives you the round up pennies.

The post says Natwest give you 75p, it's not badly worded it's simply wrong.

So NatWest did give, gave, given me 75p then, from the goodness of their hearts.

RG2015

Thumbs_Up said:

Rob5342 said:

RG2015 said:

k_man said:

The post is perhaps poorly worded, but nobody in their right mind would think that the bank gives you the round up pennies.

The post says Natwest give you 75p, it's not badly worded it's simply wrong.

So NatWest did give, gave, given me 75p then, from the goodness of their hearts.

I am beginning to think this must be a wind up.

But just for the sake of completeness:

You buy a chocolate bar for £1.25 but the total amount in your current account is £2.00, either as one amount or as two debits of £1.25 and £0.75. 

The £0.75 difference is the round-up which ends up in your savings account.

grumiofoundation

Thumbs_Up said:

Rob5342 said:

RG2015 said:

k_man said:

The post is perhaps poorly worded, but nobody in their right mind would think that the bank gives you the round up pennies.

The post says Natwest give you 75p, it's not badly worded it's simply wrong.

So NatWest did give, gave, given me 75p then, from the goodness of their hearts.

The issue wasn't the tense of the word 'give' that was the issue it is the definition...

Natwest aren't giving you 75p.

Are you genuinely under the impression that Natwest are gifting you 60% of your spending when you spend £1.25? Or is this as above a wind up (in which case why?)