NS&I certificates

Mr_K

If it were me , for peace of mind, I'd sort it out with them and get a single customer number. You've done nothing wrong but you don't want them declaring after 5 years that one of you certs is invalid and just give you the deposit back (hopefully unlikely but you never know).

tallphil

I'm waiting for my first tranche certificates to arrive so I find out my holder number, without which I cannot buy the rest of my £15k allowance - following advice of their helpline. I hope they don't close the issue while I'm waiting! I called this morning and although the certificates have been printed the guy wouldn't tell me my holder number on the phone.

Also, I'm thinking of buying more Index-Linked Certificates in the name of my 5-year-old child. Is it legal/ethical to do this if it's really my money not hers? If she is over seven when I want to cash in, will she have to open a bank account to receive the transfer? I don't want to do this if its in any way dodgy. Any advice please.

masonic

tallphil wrote: »

I'm waiting for my first tranche certificates to arrive so I find out my holder number, without which I cannot buy the rest of my £15k allowance - following advice of their helpline. I hope they don't close the issue while I'm waiting! I called this morning and although the certificates have been printed the guy wouldn't tell me my holder number on the phone.

I was in the same position as you until yesterday when my certificate finally arrived (I applied on the 20th May). I'm now just waiting for a BACS transfer to hit my current account to fund my second certificate.

If your certificate has been printed, you should only have a few more days to wait at most I'd have thought.

lisyloo

Is it legal/ethical to do this if it's really my money not hers?

If it really is your money and not hers then it's dodgy.
I think it's tax evasion which is quite serious.

Are you married?

If not then you could wait for the next issue.

System

The NSI website says certificates can be bought for children over 7.

lisyloo

The NSI website says certificates can be bought for children over 7.

Yes you can by on behalf of a child where it's their investment.
You cannot pretend the money is theirs when it's really yours all along - that is tax evasion.

RobStaffs

Cant see anything other than RPI remaining high. Energy and food price hikes will have an impact. Also the BoE seem to be in a dilemma about raising interest rates.Add to this wage inflation which from my experience is never accurately reported.I think these certificates are a good deal

lisyloo

Also the BoE seem to be in a dilemma about raising interest rates.

Really? The last few votes were 6-3.
Now Ben Broadbent has joined and the composition is move dovish the recent vote is now 7-2.

Doesn't sound like like they are teetering on the brink to me.
Sounds like a very clear majority.

But it's interesting to hear opinions as I may buy a little more this month rather than pay off the mortgage (0.99%).
I'm looking at a 12 month timescale as a minimum and doesn't necessarily have to be 3.
I will probably go for it this month.

lemonjelly

I invested the full £15k as soon as they were launched, & tbh have had no problems - certificate arrived promptly, email acknowledgements came straight away and so on.

However I do have a side query. I applied & have previous ILSC's from days gone by. At the time I applied, I did not have my savers number to hand, so I didn't enter it on the application.

I then went away & was thinking/reviwing my savings & my database (:o it is only a scrap of paper...:o) seemed contradictory. So I rang them with my savers number & requested a statement. My old ILSC's are on there, but the new one isn't. I must admit I just filed the new cert with the old ones, but I need to check whether I've been given a second number?

This worried me, as I could recall making another NS&I investment recentlyish, but research suggests that was one of their guaranteed income growth bonds...

My question is, if you don't enter a savers number, do NS&I automatically search to see whether you already exist? Or do they simply give you a secondary number.

If they just give you a secondary number, I am worried that I may have another seperate ILSC out there I don't know about...:o & it won't be on my statement...

All help appreciated!

masonic

lemonjelly wrote: »

If they just give you a secondary number, I am worried that I may have another seperate ILSC out there I don't know about...:o & it won't be on my statement...

If you didn't enter your customer number on the application it's possible they weren't able to match your details up with their existing records and you could have certificates under a different customer number. If you don't have the certificates to check, then I don't know what you can do other than phone them and explain your situation. It's best to get them to sort this out as it could cause problems for you further down the line.