ns&i warrants

donnydiva

Hello

(Wasn't sure which thread this post belonged in so please feel free to move it to appropriate one if need be)

I have a query regarding NS&I warrants. As you will probably know, they are basically cheques made out to myself, in recompense for premium bonds, etc which were held. I would like to know if it is possible to cash them other than put into a bank account? I saw on another forum about taking a cheque to the bank or whoever was mentioned on the cheque, who could cash it as they could prove the funds were there?

In the case of NS&I, could I take it to a post office in that case, and would they honour it? Obviously I would provide proof of who I am, utility bills, and so on. I have no driving licence or passport though

If this isnt possible, have you any other suggestions?

Thank you

Mikeyorks

It's a cheque. No doubt - as HMRC similar documents - it will be crossed (a/c payee). So you have to pay it into an account in the name of whoever the 'warrant' is drawn in favour of. You can't cash it over a counter ..... unless you take it to one of the cheque encashers ...... who will charge you a significant percentage.

Sceptic001

Mikeyorks wrote: »

It's a cheque. No doubt - as HMRC similar documents - it will be crossed (a/c payee). So you have to pay it into an account in the name of whoever the 'warrant' is drawn in favour of. You can't cash it over a counter ..... unless you take it to one of the cheque encashers ...... who will charge you a significant percentage.

Yes. There was once an option for a cash warrant (cashable at a nominated post office) for PSB/NSC but this was discontinued several years ago.

donnydiva

thanks for the replies

Yep, as you say Mikeyorks, it is a crossed cheque made out to a/c payee.

So, basically its pay it into a bank account or take it to a cheque cashing service, who will charge quite a bit to cash it? Just out of interest, would a cheque cashing service, cash a cheque from NS&I?

Just an additional thought - if I contacted NS&I, (who I have not found particularly helpful in the past!) but is there anything they could do at their end to enable me to cash it anywhere without putting it into a bank account?

Mikeyorks

donnydiva wrote: »

Just out of interest, would a cheque cashing service, cash a cheque from NS&I?

They would be delighted to. No risk of it bouncing and a good percentage rake off for little effort for them.

Just an additional thought - if I contacted NS&I, (who I have not found particularly helpful in the past!) but is there anything they could do at their end to enable me to cash it anywhere without putting it into a bank account

Not much they can do - without an account to aim at? Why don't you open a savings account (no credit check) to encash the cheque?

donnydiva

thanks again for the advice Mikeyorks - hope you don't think me being cheeky, but can you (and are you allowed) to suggest any possible basic accounts I could open for this purpose, which wouldnt take much hassle? I have no problems with a credit check being carried out, as I have no debts, and (as far as I know) should not be on any bad credit list. In terms of proof of ID,I havnt a passport (never been abroad and dont drive so no licence) but I have utility bills, and have been at same property for ten years. I havnt anything (other than library card) with my signature on either.

(if you do reply, and I dont acknowledge straightaway, its because Im accessing the computer in the library, and havnt got long left on it!)

thanks

alanq

Mikeyorks wrote: »

Why don't you open a savings account (no credit check) to encash the cheque?

If you haven't yet got warrant(s) why not open a savings account and get the funds credited directly to that? Many (most?) savings accounts come with a bank sort code and account number.

Alternatively, looking at the National Savings Certificate encashment form, the payee does not have to be yourself. Is there a trusted friend or family member to whom a warrant could be paid and who would give you cash in return? This would be my least favourite option.