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  • FIRST POST
    • Toomuchdebt
    • By Toomuchdebt 10th Feb 18, 2:30 PM
    • 1,840Posts
    • 3,064Thanks
    Toomuchdebt
    Natwest 125 incentive
    • #1
    • 10th Feb 18, 2:30 PM
    Natwest 125 incentive 10th Feb 18 at 2:30 PM
    I can see I need to pay in 1500 before March 16th...my question is do I have to keep it there or can I transfer it out and back in again? I can't spare 1500 just to sit in the bank account not being used.
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
Page 1
    • xylophone
    • By xylophone 10th Feb 18, 2:42 PM
    • 25,373 Posts
    • 14,969 Thanks
    xylophone
    • #2
    • 10th Feb 18, 2:42 PM
    • #2
    • 10th Feb 18, 2:42 PM
    The money does not have to remain in the account.
    • badger09
    • By badger09 10th Feb 18, 3:33 PM
    • 5,944 Posts
    • 5,283 Thanks
    badger09
    • #3
    • 10th Feb 18, 3:33 PM
    • #3
    • 10th Feb 18, 3:33 PM
    Its a current account. NatWest expect you to spend some/all of it.
    • Katiehound
    • By Katiehound 10th Feb 18, 6:32 PM
    • 4,403 Posts
    • 38,791 Thanks
    Katiehound
    • #4
    • 10th Feb 18, 6:32 PM
    • #4
    • 10th Feb 18, 6:32 PM
    You can transfer it out again but experience says maybe do this in smaller amounts rather than 1.5K at once or you may fall foul of the fraud dept!
    Serious comment- it has happened to others........
    Actually it does not have to be one lump sum. It could be 500 bouncing in and out over, say a week.
    It might also look suspicious leaving a current account with a near zero balance.
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2280 cc+.2205mm (2.20.5) + RK 5.21= 30.25.5
    • camelot1971
    • By camelot1971 10th Feb 18, 6:56 PM
    • 719 Posts
    • 1,107 Thanks
    camelot1971
    • #5
    • 10th Feb 18, 6:56 PM
    • #5
    • 10th Feb 18, 6:56 PM
    I can see I need to pay in 1500 before March 16th...my question is do I have to keep it there or can I transfer it out and back in again? I can't spare 1500 just to sit in the bank account not being used.
    Originally posted by Toomuchdebt
    Why didn't you post this in the main Nat West thread?
    • Katiehound
    • By Katiehound 10th Feb 18, 7:01 PM
    • 4,403 Posts
    • 38,791 Thanks
    Katiehound
    • #6
    • 10th Feb 18, 7:01 PM
    • #6
    • 10th Feb 18, 7:01 PM
    Why didn't you post this in the main Nat West thread?
    Originally posted by camelot1971
    Probably too much to read??!!
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2280 cc+.2205mm (2.20.5) + RK 5.21= 30.25.5
    • Toomuchdebt
    • By Toomuchdebt 10th Feb 18, 7:05 PM
    • 1,840 Posts
    • 3,064 Thanks
    Toomuchdebt
    • #7
    • 10th Feb 18, 7:05 PM
    • #7
    • 10th Feb 18, 7:05 PM
    Why didn't you post this in the main Nat West thread?
    Originally posted by camelot1971
    I didn't see it...I did actually search for a Natwest thread but must have missed it somehow sorry.
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
    • Toomuchdebt
    • By Toomuchdebt 10th Feb 18, 7:08 PM
    • 1,840 Posts
    • 3,064 Thanks
    Toomuchdebt
    • #8
    • 10th Feb 18, 7:08 PM
    • #8
    • 10th Feb 18, 7:08 PM
    You can transfer it out again but experience says maybe do this in smaller amounts rather than 1.5K at once or you may fall foul of the fraud dept!
    Serious comment- it has happened to others........
    Actually it does not have to be one lump sum. It could be 500 bouncing in and out over, say a week.
    It might also look suspicious leaving a current account with a near zero balance.
    Originally posted by Katiehound
    Thank you...yeah I don't plan to take it all out right away. Right now I have 400 in there. I was planning to pay another 200 in on Tuesday but will then have to pay bills. But as long as I have 1500 incoming by March 16th I'm ok right? What I was planning to do was take some out then pay it back in a few days later but with a little more. Actually I should get my Housing Benefit soon so I could pay that in and then just pay the rent out of that account instead and that would mean less of the transferring has to happen.
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
    • Katiehound
    • By Katiehound 10th Feb 18, 7:21 PM
    • 4,403 Posts
    • 38,791 Thanks
    Katiehound
    • #9
    • 10th Feb 18, 7:21 PM
    • #9
    • 10th Feb 18, 7:21 PM
    [QUOTE=Toomuchdebt;73861873 But as long as I have 1500 incoming by March 16th I'm ok right? What I was planning to do was take some out then pay it back in a few days later but with a little more. .[/QUOTE]

    Yes.
    Don't know how you missed the main thread- it's long enough!!

    I would be inclined to pop money in and out so that it more than comes to 1.5k that way it makes it look as if account is for real!
    I know some folk stick to the letter of the t&cs but personally can't see the point. I might want to 'groom' it for moving on again once the welcome handshake has arrived...........
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2280 cc+.2205mm (2.20.5) + RK 5.21= 30.25.5
    • Toomuchdebt
    • By Toomuchdebt 10th Feb 18, 7:44 PM
    • 1,840 Posts
    • 3,064 Thanks
    Toomuchdebt
    Yes.
    Don't know how you missed the main thread- it's long enough!!

    I would be inclined to pop money in and out so that it more than comes to 1.5k that way it makes it look as if account is for real!
    I know some folk stick to the letter of the t&cs but personally can't see the point. I might want to 'groom' it for moving on again once the welcome handshake has arrived...........
    Originally posted by Katiehound
    Honestly I have no idea...must have had a brain glitch!
    Yes I will basically treat it as my main account for now
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
    • No_6
    • By No_6 10th Feb 18, 10:19 PM
    • 637 Posts
    • 129 Thanks
    No_6
    You POP money into a bank account to make it feel REAL

    • Toomuchdebt
    • By Toomuchdebt 10th Feb 18, 11:19 PM
    • 1,840 Posts
    • 3,064 Thanks
    Toomuchdebt
    You POP money into a bank account to make it feel REAL

    Originally posted by No_6
    What? I don't quite know what you're getting at. I don't have a spare 1500 to just stick into a bank account to sit there and not be used. I'm not popping money into it to make it feel real as you said. I'm going to be using it like I use my other account. I just wanted to make sure that I didn't have to pay 1500 in and LEAVE it there, as I can't afford to do so.
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
    • colsten
    • By colsten 11th Feb 18, 7:40 AM
    • 9,010 Posts
    • 7,757 Thanks
    colsten
    You POP money into a bank account to make it feel REAL

    Originally posted by No_6
    Where in the NatWest T&Cs do they specify that their current accounts must "feel REAL", and that you only get the switching incentive if your account does "feel REAL"? How do you tell whether a current account "feels REAL"? And how do you POP money into an account - is POP an abbreviation of a specific deposit method?
    • Yorkshire Pud
    • By Yorkshire Pud 11th Feb 18, 9:11 AM
    • 897 Posts
    • 602 Thanks
    Yorkshire Pud
    I can see I need to pay in 1500 before March 16th...my question is do I have to keep it there or can I transfer it out and back in again? I can't spare 1500 just to sit in the bank account not being used.
    Originally posted by Toomuchdebt
    1500 is the total not a lump sum, so you can, as an example, deposit and withdraw 400 four times in one day exceeding the one time requirement on the Select account!

    People often think the banks can make you use a current account like a savings account, its not all you have to do is meet the funding requirement, the bank can NEVER make you KEEP YOUR money in a current account (but don't go overdrawn!). I've done the 1500 deposit and got caught by the fraud dept transferring it out again. At the moment have 45 in the account and unlike some I do like to spend on it, transfer money in and out and I will keep the account as I don't like to throw the gift back in the face of NatWest.

    Also the myth of the 'main' current account mentioned later in the thread. There is no real definition. For me it's a) the account I use the most for DDs, SOs, bill payments but right now its the NatWest Select account because its going to pay me 125 (I hope). The banks can't make you use an account more than you want as long as you meet their T&C, NatWest didn't ask for DDs etc or that its a main account. I have about 15 main current accounts
    Last edited by Yorkshire Pud; 11-02-2018 at 9:16 AM.
    • Yorkshire Pud
    • By Yorkshire Pud 11th Feb 18, 9:24 AM
    • 897 Posts
    • 602 Thanks
    Yorkshire Pud
    Where in the NatWest T&Cs do they specify that their current accounts must "feel REAL", and that you only get the switching incentive if your account does "feel REAL"? How do you tell whether a current account "feels REAL"? And how do you POP money into an account - is POP an abbreviation of a specific deposit method?
    Originally posted by colsten
    No_6 is having a pop at Katiehound. Maybe prefers actuarial language to pop fiction it makes him/her feel mighty real.
    Last edited by Yorkshire Pud; 11-02-2018 at 9:52 AM.
    • Toomuchdebt
    • By Toomuchdebt 11th Feb 18, 1:01 PM
    • 1,840 Posts
    • 3,064 Thanks
    Toomuchdebt
    unlike some I do like to spend on it, transfer money in and out and I will keep the account as I don't like to throw the gift back in the face of NatWest.
    Originally posted by Yorkshire Pud
    Thank you, yes I will keep it too. I have 5 current accounts (one is being switched to Natwest) -one is for all money coming in(Barclays), one is for bills(Santander because it gives me cash back), one is for savings (TSB because it has a higher interest rate than my actual savings account) , one (Nationwide)for my ex to pay child maintenance in to, and now Natwest. I'm liking their website right now, and their app. I haven't made any payments out of it yet, just paid in. Technically I don't need all these accounts but before I found YNAB I found it very helpful to have the money divided up like this.
    Debts Jan 2014 20,108.34

    Debts Feb 2018 6829.63

    EF #70 0/1000
    • Katiehound
    • By Katiehound 11th Feb 18, 5:52 PM
    • 4,403 Posts
    • 38,791 Thanks
    Katiehound
    No_6 is having a pop at Katiehound. Maybe prefers actuarial language to pop fiction it makes him/her feel mighty real.
    Originally posted by Yorkshire Pud
    Glad that makes him (or her!) feel good having a pop at me!
    Am I bovered... I think not. If he/she can't contribute anything worthwhile to the discussion- why bovver??
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..2280 cc+.2205mm (2.20.5) + RK 5.21= 30.25.5
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