natwest isa 7.32%

A question about : natwest isa 7.32%

why has this gone unnoticed

https://www.natwest.com/personal/savi...#tabs=section2

Best answers:

• Primarily because it is the typical high street bank scam of a 1-year bonus rate, looking for high inertia customers. Until ISA transfers become automated, I would never consider switching ATM.
  Bonus is for customers transferring in ISA funds from another provider (with the exception of The Royal Bank of Scotland) and is calculated on the whole balance in the account for one year from receipt of the ISA transfer request. Offer may be withdrawn at any time.
• Probably just because it's brand new. I had the misfortune of being in a Natwest branch this morning, and there was no mention of this new account anywhere. I see they sent their press release out today, just in time for the weekend papers. I'd imagine they'll start the advertising Monday, with best buy logos from the papers slapped all over it.
  Press release: https://www.natwest.com/global/media/y2008/m-1.ashx
• The NatWest site is a little lacking in detail. However, the same offer looks to be available with parent company RBS, where there's a little bit more detail*. For instance...
• The 12 month clock starts ticking when they receive your transfer request. The transfer itself (and ability to actually EARN the bonus) may take place a month or more AFTER this date. All of which means only 10-11 months bonus may be earned.
• The bonus is payable in two instalments...the first in March 2009, and the second in March 2010. You'll (probably) then have to keep the account open at whatever pitiful rate they're paying throughout the 2009/10 tax year in order to get the second bonus payment.

* https://www.rbs.co.uk/personal/saving...#tabs=section2

• This looks like the new best buy to me.
  I have tried to download the transfer form online but the link is to the ISA reactivation form! I'll go to the branch and fill out the form there and then instead.
  I have rung them and additional details are:
  1) No transfer fee out (though I need to check on the T&Cs);
  2) Interest is paid monthly and, if payment of this takes you into the next interest rate band, this then become payable;
  3) Available for a limited period only, though they don't know how long.
  4) New money doesn't get the extra 2%.
• here's the transfer form.
  https://www.natwest.com/content/perso...er_service.pdf
• I am quite tempted to transfer my Abbey ISA 6.00% to Natwest, even though I might lose out 1 mth or so of the bonus. Have already downloaded form and filled it in.
  Also remember that: "You will also need to hold or open an instant access account. We will use this account to hold your money if you accidentally put more than Ј3600 a year into your Cash ISA." Which, of course, isn't a problem.
• I have been into the branch this morning and nobody knew about the isa but got the standard forms anyway.
  I also rang the natwest helpline and quite honestly i would have done better ringing pizzahut.
  Does any body know 1. if the rate and the bonus is paid monthly?.
  2.If there are any penalties at all?.
  3.if you can transfer isa's from more than one provider
  and would they show up as more than one isa account?.
  4.do you need there e saver account as well?.
  5.how long should it take them and my previous providers to complete the transfers?.
  6. does anyone think this will be beaten within the next few months.
  Sorry for all the questions but one of my previous providers is ICESAVE and i just want to transfer as soon aqs possible.
  Coco.....................
• The ISA transfer form and the answer to at least question 1 can be found HERE:
  Quote:
• I wonder if they will calculated interest from the date of the transfer cheque like Nationwide?
• I went along to the local branch on Saturday 20th September 2008. No banners in the windows, no leaflets about the offer, etc.
  I took along ID and the transfer form I'd downloaded from the NatWest website. The teller went round the back to ask about it, came back - said I had to fill in a form opening a new ISA as well as the transfer form. I said - can you double-check please, as I've already subscribed to a cash ISA this year. So she went round the back again.
  Came back with the form to open a new ISA - I start to fill it in, then point out that there's no option for just a transfer in - the form is asking for a minimum deposit of 1.00 UKP. But I've already put 3600 in another ISA this tax year (the one I want to transfer). So she disappeared round the back again.
  Came back having phoned "the powers that be" as she put it. Said I have to fill in this extra form to open a new ISA but that I've to put "transfer from (name of old provider)" and the amount that I'd be transferring next to the 'opening balance' box. I pointed out that the amount would depend on how much interest was added by old provider before transfer. She said just to put an approximate amount instead.
  I also scored through the lines later on in the form that talked about "subscribing" to the ISA - on the transfer form it tells you to score them out if you're only transferring, so I did the same with the 'open a new ISA' form.
  On the "open a new ISA" form, it says you need a NatWest account held at the same branch as the ISA in case you over-subscribe, as they need somewhere to put the excess. The esaver I opened (for the 50 cash back) doesn't count, as it has no branch. The teller said "we won't need to worry about that".
  So a summary would be that they were clueless about the offer etc (I pointed out that it was all over the front page of the NatWest website and there was an ad in the paper on Friday). Once she'd checked, the teller confirmed the interest rate. I filled in two forms and didn't open an extra account alongside. I kept photocopies of everything I filled in.
  So my application may run into problems... I'd be interested in anyone else's experiences, as I have a feeling I may need to chase them up so that I can jump through more hoops.
  (My feeling is that the transfer form should be sufficient, as indicated by the website, but that I should have opened an instant access account alongside, as indicated by the website.)
• I think that the high street banks are a complete waste of time, they don't even know about there own products.
  I want to move my existing isa's from ICESAVE because of there "Fitch" rating, which is negative but have to admit this bank is a lot more helpful and more efficient than any high street bank I've used ie..Natwest and barclays.
  I will be going to NATWEST on Monday for one more try at this isa rate and if i get no joy then its going to stay in ICESAVE.
• Looks OK if you move an ISA in, but move it back out immediately after 12 months when the bonus disappears. With the maximum rate you'll get 7.32% for the first year but only 5.32% thereafter - which is poor, when there are top rated ISAs paying 6.25% with no catches at all.
  Personally I hate these bonus accounts, I'd rather have a good guaranteed rate for a long period of time - but worth if it you don't mind switching a lot.
• So all of a sudden the Post Office one looks poo poo now.
  I fall into the bottom category, but its still better than the PO one that I was about to transfer to.
  So if I go ahead with this and its all up an running by Oct 08 with the my 2 transfers, then I take it that it would be Oct 09 when I have to look to move my money again for a better rate?
  Also could I move my current cash ISA from Barclays to Natwest?
  Thanks in advance,
  Gazza.