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

JoeCrystal

Stompa wrote: »

FWIW, it does say at the beginning of the NS&I online application process:

For security reasons, your bank may have set a maximum amount for a single debit card transaction. If we can't process your transaction, we'll let you know by email.

Fair enough, consider myself taught. I think I will stick with cheque from now on.

TheMatrix wrote: »

If the money is in the account they should not decline payment like that. Yes carry out checks to make sure it is genuine, but the money is yours and they should not be dictating what you can and cannot do with it. Be it £1k, £10K, £100K or £Millions. It should make no difference and if clear funds are in the account payment should be authorised.

I agreed. But alas, it seems there is such thing called maximum amount for a single debit card transaction. Which I have to admit, first time I ever heard of it now.

homerhotspur

artha wrote: »

I applied for 10k on Thursday + 5K on friday. Funds became reserved (i.e not included in my available balance) over the weekend but have not yet been taken. OH did the same and is in the same position.[/QUO

May be in a similar 'boat'.

Applied last Friday evening. Got the acceptance e mail and reference number. Over weekend, the money was shown as ' reserved' in our account ie the balance available was reduced by the correct amount of the debit card but ,today, the balance has gone back up to the original figure again. Phoned the bank who said the transfer was authorised on Sunday but it appears NS& I must have reversed it for some reason. Nothing to do with them.

Tried to phone NS & I tonight . Waited 38 minutes ( probably wiped out a month's RPI increase in interest) having been told queue was between 15 -30 mins. Gave up. They will not accept e mails on specific queries so goodness only knows what the position is. Very frustrated.

homerhotspur

Just spotted that the 'help line' is free , so at least I have only wasted 38 minutes!

Stompa

JoeCrystal wrote: »

Fair enough, consider myself taught

If it's any consolation I also found out the hard way a couple of years or so ago!

ffacoffipawb

Applied on line Friday morning. Already a holder of the lst 3 year RPI + 1% issue.

They have just taken the funds from my account today from the debit card transaction ....

17/05/2011 NS&I SC DURHAM 15000.00

Happy days!

If Lloyds hadn't decided to cull the Vantage 4% I may well have kept it with them.

claire07

I applied online first thing Friday and paid by debit card. The money has only just (Wednesday am) gone from my current account. Hate the thought of the cash sat in my current account all that time but didn't want to risk them taking it straight away on the Friday!

wriggly

claire07 wrote: »

I applied online first thing Friday and paid by debit card. The money has only just (Wednesday am) gone from my current account. Hate the thought of the cash sat in my current account all that time but didn't want to risk them taking it straight away on the Friday!

Just to be clear, NS&I will pay interest from the application date (in claire07's case, from Friday) so there is no loss of your "justified interest" (for want of a better word), just the missed opportunity to get paid twice from both a high-rate savings account and from NS&I.

i.e. you are no worse off than if they had taken it on Friday.

kar999

It's already been posted before, but DON'T use your premium bond holders number. I had all my applications rejected by email yesterday after applying Thursday. Had to start all over again yesterday..

le_loup

ffacoffipawb wrote: »

Applied on line Friday morning. Already a holder of the lst 3 year RPI + 1% issue.

Socialism: Socialists are opposed to individuals amassing capital. Socialists believe that wealth (apart from their own, obviously) should be held by the state and allocated by central planning. Socialists like to portray themselves as caring, sharing individuals, but, sometimes the mask slips.

So, you don't mind using a State facility when it suits!
Hypocrisy is fine but don't thrust it down our necks, thank you.

uk1

Don't know if anyone can answer ....

If husband and wife are making two joint ownership applications (one in each name with the other as joint owner) .... will the second application be rejected on the basis it is "a subsequent application" and the second applicant needs to wait until they have received a customer number from the first application?

This seems to be what has happened to me ..... so hoping someone else might know ..........