Natwest Fixed rate ISA interest and Start date of 04 September 23.

anotherquestion

Hi folks,

I have opened a two year fixed ISA with Natwest at 5.9% transferring in from another bank. I notice that the start date for the ISA with Natwest is 4 Sept 23, and last day for receipt of transfer form is 14 August 23.

What I would like to find out, if anyone knows, is since my money will probably be in two weeks before the start date with Natwest, does this mean that it's more than likely earn no interest for that two weeks?

I have spent an hour on phone trying to get through to their ISA team without any success.

Thanks.

Jami74

anotherquestion said:

What I would like to find out, if anyone knows, is since my money will probably be in two weeks before the start date with Natwest, does this mean that it's more than likely earn no interest for that two weeks?

You earn interest on the money in the account from the day it is in the account. It tells you that in one of the documents you read when opening the account.

Information sheet (..., or any interest earned prior to the Start Date.):

Flugelhorn

This is from the stuff I have for my RBS fixed ISA (part of same bank)

"Interest is paid on a tiered basis at these fixed rates from the date you open your account until the Maturity Date. This means you'll earn one rate on your entire balance. Interest is calculated daily and paid annually to your ISA on the first business day in April and on the Maturity Payment Date."

PS says same thing on the NatWest site too - scroll down the page to just under the interest rates https://www.natwest.com/savings/isa-overview/fixed-isa.html

Ommbiance

No you earn the rate from the day you open the account until the maturity date.   See here :  Fixed Rate ISA | ISA Rates | NatWest

anotherquestion

Thanks so much folks for the clarification, wish I has asked here before I spent a wasted hour on phone to them.