MSE News: NS&I revives inflation-beating savings certificates

JoeCrystal

@inneed

Generally by checking available balance...

grumpycrab

I've just had an email from nsandi re. my Visa Debit "card issuer could not process the debit card transaction" I rang Santander who said it probably failed because the amount exceeded the card provider's limit.

He suggested trying for a smaller amount. I said I'd write a cheque. Now where's my chequbook...

JoeCrystal

@grumpycrab

Interesting! I just found my chequebook with that account. I will keep an eye out for that email then!

Cheers

Joe

Amigo34

I applied on line Thursday- No money has been taken out.

This morning, I got an e-mail saying my application has been rejected. Seems the holder's number I quoted 'does not match their records'

I quoted my holder's number as per my Premium Bonds Certificate.
Is that not correct ?
My only dealings with NSI have been via Premium Bonds.
Is there another holder number for other type of transactions ?

Anyhow, I have now applied saying I do not have a holder's number.
They have acknowledged and will send me a confirmation form to sign and return. Proof of Identity may be required.

I wonder if they will get upset if I supply my Premium Bonds Certificate as proof of Identity.

inneed

JoeCrystal wrote: »

@inneed

Generally by checking available balance...

Doh! Thanks!

ffacoffipawb

Amigo34 wrote: »

I applied on line Thursday- No money has been taken out.

This morning, I got an e-mail saying my application has been rejected. Seems the holder's number I quoted 'does not match their records'

I quoted my holder's number as per my Premium Bonds Certificate.
Is that not correct ?
My only dealings with NSI have been via Premium Bonds.
Is there another holder number for other type of transactions ?

I have a different holder number for premium bonds (now redeemed) and the NSI certificates. They use a different system apparently.

Svenena

le_loup wrote: »

You will find the money is "reserved" on your account and it will leave tomorrow.
Most card transactions operate like this.

How long would you expect it to be 'reserved' for? My money is still sitting in my account since applying on Thursday. Some people on here have said the money left their accounts instantly.

typistretired

I wish I had not taken the advice of some people on this forum. I intended to apply for one certificate but after seeing advice given on this forum I decided to split into three applications. I noticed only the first payment has been reserved on my current account since Friday and expected the two other payments to be reserved today.

Today I received two separate emails from NS&I Investments advising me that

QUOTE

"Thank you for applying to invest in Savings Certificates from National Savings and Investments.

We're sorry to let you know that we cannot accept your application as a subsequent purchase of Savings Certificates as we need a Customer Number to process a subsequent application. The Customer Number is shown on any Certificate you already hold for this product.

If you have only recently made your first purchase, please wait until you have received your Certificate showing the Customer Number before making your subsequent purchase.

We have not taken any money from your debit card.

On hindsight I should have just made one lump sum application the people on this forum who advised splitting the applications must already have NS&I Savings Certificates and Customer Numbers. I have held ISA's and fixed interest savings previously with NS&I.

Just hope my Certificate comes before the issue closes, meanwhile I have lost interest letting the funds for the 2 subsequent applications lie in my current account.

So beware if you do not have a NS&I Customer Number you can only make one application until you Certificate arrives in the post.

:mad::mad::mad: :mad:

KTF

For those who are wondering when the money gets taken. I applied Thursday, the money was 'reserved' all weekend and the balance was correct this morning.

le_loup

I applied Friday. The money is still "reserved". I expect it to go tomorrow.
One problem with the Internet, it makes people paranoid ... it's going to go wrong ... it's all a conspiracy.
Without all this "sharing" of worry, we would all get on with our lives and be pleasantly surprised when the certificate pops through the letterbox!