Transferring to Natwest Fixed term ISA - problems

SMcGill

NatWest seems to be very hit and miss.

A couple of years ago I ended up taking them to the ombudsman over a transfer they messed up to a stocks and shares ISA I’d opened. In the end I was awarded the standard £100 plus something towards the gains I missed out on as the S&S ISA had performed well.

More recently I opened up their 2yr fixed ISA and the transfer to them from another provider was done in a couple of days.

bdt182uk

Cheers for the comments.

It is indeed Natwest at fault. Marcus' communication was great throughout, and Natwest acknowledged problem at their end.

I can forgive the problem arising in the first place, but what is annoying is Natwest's passive and slow reaction to the error; and communication (or lack of) throughout. 

subjecttocontract

I've already added NatWest to my 'avoid opening ISA' blacklist.

It would be good to think that the power of the internet would ensure such poor performance might have a negative effect on NatWest but alas I suspect tomorrow there will be many new customers blindly transferring their accounts to them.

Stargunner

subjecttocontract said:

I've already added NatWest to my 'avoid opening ISA' blacklist.

It would be good to think that the power of the internet would ensure such poor performance might have a negative effect on NatWest but alas I suspect tomorrow there will be many new customers blindly transferring their accounts to them.

The problem is that most of us on here are very rate conscious and are prepared to risk getting some poor customer service, to get market leading rates.

Dandytf

My own HL to NW Isa is very fast at least from HL side.
Only awaiting funds to be viewed via NWI.
Then a couple of weeks later SIPP is taking similar Transfer.
Hopefully I've been lucky in choosing NWI to trigger this request.
Thanks to both providers, my HL DD's are Auto Cancelled. 
To Add, mid-late '23 Investments are taking serious hit -similar to Pandemic recent years.
I believe  NWI can choose my Investments more wisely!

trickydicky14

subjecttocontract said:

I've already added NatWest to my 'avoid opening ISA' blacklist.

It would be good to think that the power of the internet would ensure such poor performance might have a negative effect on NatWest but alas I suspect tomorrow there will be many new customers blindly transferring their accounts to them.

I do feel for those having problems and it needs to be put right, but I like most others have had a smooth ride so I think it's a bit unfair to say 'blindly transferring their accounts'. I hope those having issues get sorted soon.

subjecttocontract

I don't disagree but we all have different approaches to problems. When I read a number of very difficult ISA transfers on this forum for the likes of Nat West, Virgin & UBL I take note to avoid them.

Qyburn

Dandytf said:

To Add, mid-late '23 Investments are taking serious hit -similar to Pandemic recent years.
I believe  NWI can choose my Investments more wisely!

Just out of interest what funds did you have in HL and what are you going for in NW? I think pretty much any portfolio should be up YTD even if it may not have passed the 2021 high point yet.

Dandytf

Qyburn said:

Dandytf said:

To Add, mid-late '23 Investments are taking serious hit -similar to Pandemic recent years.
I believe  NWI can choose my Investments more wisely!

Just out of interest what funds did you have in HL and what are you going for in NW? I think pretty much any portfolio should be up YTD even if it may not have passed the 2021 high point yet.

Since gone from hl portal, not yet arrived via nw.

Hl select global growth

Hl select uk growth

Pictet usa index

VT Gravis Clean Energy Income

abrdn Asia Pacific Equity

VLS 80% Equity.

+ polar bio tech- though never setup continuous sub, one off payment only.

Ref NWI move, don't think I have enough years ahead from my own choices.

Thanks

Qyburn

Dandytf said:
from hl portal, not yet arrived via nw.

That's some expensive (to very expensive) and high risk fund choices you made. Are you picking more mainstream on NW? What are NW platform fees?