First Active

plantation_2

Still waiting here. Just received another email apologising for the delay and saying the account is now closed to new applicants but they will continue to process existing applications already in the queue (at the originally advertised interest rate)

Aretnap

https://forums.moneysavingexpert.com/discussion/comment/82132216#Comment_82132216

Just had the same Email, though by now of course I've given up and decided that it's worth splitting the money I had earmarked for it between Spring and Cahoot after all.

Oh well, I guess if it ever actually opens I'll leave a pound in it for when the next regular saver matures.

Aretnap

Now starting to feel vaguely farcical. How many applications does a market-leading rate normally attract? How many did they plan for? Why the obvious difference?

Tommaso46

This is just to keep you hanging on when your money could have been earning interest all that time

masonic

https://forums.moneysavingexpert.com/discussion/comment/82132444#Comment_82132444

Surely anyone applying for this account will keep their money earning interest in another savings account while they wait.

Tommaso46

they might have been keeping the minimum amonut necessary for a deposit, somewhere that it can be moved immediately,,,

masonic

https://forums.moneysavingexpert.com/discussion/comment/82132472#Comment_82132472

The minimum amount necessary is £1. But even that can be held in an instant access savings account, such as Cahoot Simple Saver @ 4.52%, from which it could be moved immediately and received in minutes.

Aretnap

https://forums.moneysavingexpert.com/discussion/comment/82132444#Comment_82132444

!!!!!!-ups are generally more common than conspiracies. And in any event most people applying for the account will have their money in a different interest paying account with another bank. NatWest didn't care whether a completely different bank is paying you interest or not. There is no secret agenda at work, beyond being a bit crap.

fh2901

https://forums.moneysavingexpert.com/discussion/comment/82132442#Comment_82132442

I agree. And them having said it was now closed to new applications, today's email says they're still receiving loads! So I'm not sure which is true. I'm thinking I may have to do the same as you, and opt for the two capped ones. They're really not covering themselves in glory, are they? I'm on day 10 of waiting so far…

SaveTheEuro

https://forums.moneysavingexpert.com/discussion/comment/82126749#Comment_82126749

My First Active account is open finally. It has been a 17 day wait for me.