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

Amigo34

My wife and I both applied separately for £5,000 each.
As we have never held NSI instruments (other than Premium Bonds)
before, we did not have 'NSI investemnt accounts numbers.
Money left our bank accounts on 19 May and a few days later, we both were asked to sign and return an acceptance form.

Since then nothing - still waiting for actual certificates and account number. So while we are thinking of applying for some more shares,
we cannot do so as we do not have 'account numbers'
I managed to get them on the phone and their reply was pleasent enough but other wise were told very firmly that 'we should just wait for our Share certificates'
Since then the original hype for these certificates seem to have cooled down. So we just wait and see as the issue looks like it will be open for some time.

JoeCrystal

Well, I applied by post quite some time ago now. Of course, I was delighted to see my money coming out fifteen days ago by cheque but alas, still waiting for the certificates.

lisyloo

Amigo - it's generally 3 weeks for certificates, so you haven't waited long enough.
Plus they have a backlog at the moment.
So I'm afriad you just have to be (more) patient.

However you won't lose out as you'll get the same start RPI at any point in June.
So providing you can get yours by 30th June it shouldn't really cause you any problems.

grumpycrab

If you paid by cheque you get no acknowldgement of payment (unless they need some proof of id). So you have to wait 3 weeks. Phone calls will not help as they have no application id. Its a bit of a pain as you just have to assume that its nsandi that have cashed the cheque (you DID fill in the cheque right!) unless your bank statement identifies the payee.

If you are worried send them an email via the following link. It'll take them 2 or 3 days to answer though.
https://www.nsandi.com/contact-us-feedback

lisyloo

you just have to assume that its nsandi that have cashed the cheque

Surely you didn't put a blank cheque in the post?
We can only assume not if so then only nsandi can cash your cheque, surely.

If you think it's so insecure, then why on earth did you play by cheque?

JamesU

lisyloo wrote: »

Amigo - it's generally 3 weeks for certificates, so you haven't waited long enough.
Plus they have a backlog at the moment.
So I'm afriad you just have to be (more) patient.

However you won't lose out as you'll get the same start RPI at any point in June.
So providing you can get yours by 30th June it shouldn't really cause you any problems.

Amigo and his wife do not need to worry about any timing and dates in June/July for the certificates they have purchased so far. The cash was taken from their accounts on 19th May and the start date RPI for their certificates is set by this date, and is not dependent on when the paperwork is processed and/or sent back.

But for sure, need to wait for their certificates to arrive with customer numbers on them before purchasing any further certificates.

JamesU

lisyloo

Amigo and his wife do not need to worry about any timing and dates in June/July for the certificates they have purchased so far. The cash was taken from their accounts on 19th May and the start date RPI for their certificates is set by this date, and is not dependent on when the paperwork is processed and/or sent back.

Agreed, but I believe they want to apply for more.
What I was saying that as regards new ones (for which they are depending on the number of the certificate), it doesn't matter whether they apply on 1st June or 30th June, they will get the same RPI figures.

michael1234

Apologies in advance for venting steam.

So two weeks after they took my money they wrote and asked me to send the usual 2 documents which had to be certified.

Their list of acceptable certifiers includes the "Local Chemist" and an estate agent. Why is a commercial airline pilot not allowed or a software engineer or a professor in a uni for that matter allowed. This really is red tape for red tape's sake. Any genuine crook could easily find a dodgey estate agent mate or even just make up one (because they probably rarely follow up).

Against their own advice and to avoid wasting my doctor's time, I sent them them my original passport and driving licence. I hope I don't need either in a hurry in the next few weeks. :mad:

lisyloo

Totally agree with you.
How on earth any of that would deter terrorists, drug barrons, money lenders I have no idea.
Just causes problems for genuine people include the severly disabled who don't find it easy to travel to the local chemists or estate agents.

Amigo34

"My wife and I both applied separately for £5,000 each.
As we have never held NSI instruments (other than Premium Bonds)
before, we did not have 'NSI investemnt accounts numbers.
Money left our bank accounts on 19 May and a few days later, we both were asked to sign and return an acceptance form.

Since then nothing - still waiting for actual certificates and account number. "


Pleased to report that Share Certificates arrived on the 8th June.
Just within the 3 weeks time scale mentioned by many.