NS&I withdrawal

9217niall

Hello, just wondering if anybody can help me.
My younger sister had an NS&I account opened for her in 1996 and by Mar 1997 there was £65 in there. However, when we changed address my parents made sure this was updated (even though nothing had been added, they'd forgotten about it until we moved) and so in 2005 the balance was £86.77

She would like to pull this money out, what's the best way of doing it? In the back of the book it says something about a month's notice and sending everything off, is this still the case, as underneath it says "This information is correct at the time of going to press - April 1987 (:eek:)", so maybe things have moved on a little?
Sorry if that's a little confusing and thanks in advance :T

dunstonh

The NS&I website has a section on how to draw money out of the different account types, including old legacy product versions (in case its not a currently issued product)

9217niall

Okay I've found this:
"
You can take money out at any time with no notice and no penalty. You can pick up a withdrawal form at any Post Office® branch along with a pre-addressed envelope. Simply complete the form and return to us - we'll send you your payment within a few days of receiving your request.
You can choose to receive your payment either by direct credit to your bank or building society account or by crossed warrant (like a cheque). Or you can collect it in cash at any Post Office® branch in the UK. There is a limit of £2,000 for withdrawals collected in cash.
If you ask for payment by direct credit or crossed warrant, you will need to send us your passbook along with your completed form."


Does she have to fill in a form and send it off, or does it mean she could just go to the post office and cash it all out there and then? Thanks

dzug1

If you read what you have highlighted in blue the answer is there staring you in the face.

You send the form off.

A few days later the money either appears in you bank account OR you get a cheque in the post OR you get a letter saying the cash is at the PO to collect.

The PO won't know how much to give you when you take the book in - there will be more interest to add