Not happy with NS&I
teddysmum
Posts: 9,471 Forumite
To be in the April 1st draw, I rang to buy some premium bonds and the young man said that there was no record of my buying any before. This was a big shock as I know I have lots, but he said that once I went online all would be fine, as the problem arose because I last bought bonds at the Post Office.
I also asked for my winnings to be reinvested, so was surprised, today, to receive a cheque.
Obviously I called and this man asked for my NS&I number , password and holder number. (The person who sold the bonds didn't ask for the latter.)
This person told me that the problem was that I had two accounts and that the reinvest order was only on the new account.
I know have two write in giving details and asking for the two accounts to be combined under the old holder number. This seems silly (they won't do it over the phone , although it's obviously their mistake ) as they say they need to check my signature, but I told them that this has changed a lot since I bought my first bonds in 1972.
OK, petty, but the £25 winnings will have wasted a month's investment time, annoying on top of the hassle caused by someone not following the correct procedure (ie he didn't ask for my holder's number ).
I also asked for my winnings to be reinvested, so was surprised, today, to receive a cheque.
Obviously I called and this man asked for my NS&I number , password and holder number. (The person who sold the bonds didn't ask for the latter.)
This person told me that the problem was that I had two accounts and that the reinvest order was only on the new account.
I know have two write in giving details and asking for the two accounts to be combined under the old holder number. This seems silly (they won't do it over the phone , although it's obviously their mistake ) as they say they need to check my signature, but I told them that this has changed a lot since I bought my first bonds in 1972.
OK, petty, but the £25 winnings will have wasted a month's investment time, annoying on top of the hassle caused by someone not following the correct procedure (ie he didn't ask for my holder's number ).
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Comments
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When I bought a second lot of bonds I had to link my previously held bonds to them.0
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Can you not close 1 of the accounts then buy some new bonds under the other account ?0
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When I read the title I thought you'd inherited some and found that they insisted on you going through probate. When I had that issue I was far from impressed.0
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When you get this issue sorted why not ask for a password etc & manage your account online ??
HTH0 -
firefox1956 wrote: »When you get this issue sorted why not ask for a password etc & manage your account online ??
HTH
I have an online account (but never needed to us it ) and this is where I found that only the recent bonds are listed , together with my 65+bond.
The accounts are to be merged, but I have to write in to do this. Apparently, besides the last seller not asking for my bond holder's code (after being told there were other bonds), the person selling the 65+ bond should have asked about bonds then (my husband's account is fine and his 65+ bond was bought during the same phone call.)
The 65+ bond purchase caused problems, too. The actual sale was fine, but they put an extra 'i' in my husband's surname (caused by fast typing, catching the wrong key) and transposed the letters in my forename, so the documents all had to be amended. It took two requests (in writing) to get my husband's documents sorted as the first replacement had the same error as the original.0 -
They don't trust you enough to just pay out.:pkwikbreaks wrote: »When I read the title I thought you'd inherited some and found that they insisted on you going through probate. When I had that issue I was far from impressed.
I asked why they wanted my request in writing as, obviously, when the man checked , he could see that I had two accounts and was told it was to verify that I was myself, by comparing signatures; useless as it has changed a lot since 1972.0 -
A lot of financial institutions will accept a death certificate and will but over some threshold (not sure what off hand) you need probate get the money from premium bonds. Considering the budget changes which considerably increased probate costs and the poor return offered by premium bonds (not that anything offers much of a return these days) I simply wouldn't touch them. They were trouble when my father died then again when my mother died. I can't remember for sure but I think they were the only reason I had to go through the probate procedure.0
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Also never put 2 letters in one envelope, they will only action the first one they take out !0
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