First Active

Tommaso46

Knowing First Active is part of NatWest Group is a good reason not to touch it. I have had many problems with every NatWest Group account I have ever opened - such as not getting the interest rate that was advertised, not being able to close an account without jumping through endless hoops, etc.

flaneurs_lobster

Good opening sentence - short, to the point.

You might need to provide a little more context if you are trying to establish a position on which to argue your point.

jimjames

such as not getting the interest rate that was advertised

I find it very hard to believe any regulated bank won't pay the interest rate they are advertising. Sounds more like the person buying misunderstood how the rate was calculated. We see it all the time with regular savers for example. I've had many, many accounts over the years and never experienced a rate not being paid as per their T&Cs.

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82115027#Comment_82115027

I would hazard a guess that the Digital Saver is the one the OP is referring to. Might be wrong though 😏

flaneurs_lobster

Just counted, I've got 11 accounts (incl credit cards) across the NWG, including a couple I've had for over 30 years.

Not without occasional issues but never had an account not pay the advertised interest rate.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82115041#Comment_82115041

Nah, a long and fraught experience with the Ulster Bank (Loyalty?) Saver.

https://forums.moneysavingexpert.com/discussion/6494753/ulster-bank-beware

friolento

If the OP's verdict is based on their unfortunate experience with a savings account at Ulster Bank, I can only say that (s)he made matters unnecessarily worse for themselves. From my own experience, I know that opening an Ulster current account (to get money out of Ulster savings) is very straight forward. They even paid me a switch bonus 😀, and for a while had an excellent savings account. Possibly the one the OP was attracted to. I had zero issues getting my money out of Ulster, and would be using them any time again if they had a market leading offer.

The only criticism I have about the 4.55% First Active account, which I opened the day it became available, is that it doesn't come with an app. Apart from that, it's very easy to open, credits deposits instantly, and has 24x7 true instant withdrawals, up to £20k a day. The only reason I am not currently using the account now is that Tesco have released an app-supported 4.53% account, which suits my frequent deposits and withdrawals better than the First Active one.

Nobody should be put off from using the First Active account if the interest rate is what they are after, and if they are happy with online-only access.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82115042#Comment_82115042

I now have 12, incl. the First Active one, or even 13, if I count Saga by Natwest. None more than 10 years old, and I can't recall any issues.

I got a CASS bonus on all 3 - Natwest, RBS and Ulster, I love the NW/RBS Digital Saver, and I am still cashing in on the Rewards, even though they will now be less attractive. I use a Natwest credit card for stoozing. All in all, NWG doesn't make any money from me, but I have made quite a bit from their offers.

They certainly always paid the advertised interest, and advised drop in interest rate as per the T&Cs, as well as other T&C changes.

Jordan72

Not only does First Active not have an App, I can't even link it to my existing NatWest account App as it is not even listed in the available options.

Hardly inspiring is it?

Rollinghome

I've had a Natwest account since I was 18 when it was called Westminster Bank without any problem throughout. When I once needed to stop a cheque it was done instantly without charge.

But... they did have some accounts with very misleading terms some years ago. One account offered an apparently good rate but made it less than obvious that no interest would be paid for the month starting from the first day of the month following the account opening. So potentially up to two months without interest. Or at least that was what they intended but got the wording wrong. I noticed the error and took a screen grab of the offer. The remedy was to open an account with £1 and not pay in any more until interest became payable. One person here was caught out after putting a large lump in and complained, but Natwest quietly replaced the web-page with altered wording, and worse, swore that they hadn't. I sent him my screen grab and they paid him, I think, £1k compensation. Incredibly dodgy behaviour for a major bank but I'd hope that wouldn't happen again. Would be interesting to find the posts to refresh my memory.

My only reservation with their Saga and 1st Active accounts are the withdrawal terms. Max of £10k x 2 per rolling 24 hour period - and if you try to make a withdrawal one minute be before the 24hrs you're told you must wait another hour (you don't). It would take a minimum of a week to withdraw £100k with good timing. So worth bearing in mind when the bonus ends.

Bikeboy

I just opened a First Active account, except that at the end of the process it said that it might be 72 hours before it acctually opens. No sort and account codes given to me yet. I am an existing NWG customer. Apparently they are a bit busy just now due to all the accounts being opened.