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NS&I Deposit Bond from 1988
mrsb86_2
Posts: 1 Newbie
Hello,
First post here so I'm hoping somebody can help and I apologise if I have broken any etiquette but I don't think I have.
I have found out today that in 1988 my grandparents deposited £250 in deposit bond in my name (I would of been 2 at the time) to obviously at some time in the future mature. (Not really important but they did it for all 5 grandchildren).
The paperwork has only come to light this week, my grandmother passed away a couple of years ago and y grandad had been going through all his paperwork. He contacted NS&I and they said that apparently in 1989 the wrote to him and said that they were no longer offering that particular deposit bond and interest would not of been paid as he has not instructed them what to do with it, he is in his mid 80s now and im not sure if this is true or whether e has got the wrong end of the stick.
When i did a bit of research on the web it appears any accounts which are subsequently closed and they can not contact the holder it gets put in a residue account which then earns interest.
I just wondered whether anybody has experience of this I just would of thought that after 23 years the investment should yield at least some interest.
many thanks in advance for any information or advice.
Mrsb86
First post here so I'm hoping somebody can help and I apologise if I have broken any etiquette but I don't think I have.
I have found out today that in 1988 my grandparents deposited £250 in deposit bond in my name (I would of been 2 at the time) to obviously at some time in the future mature. (Not really important but they did it for all 5 grandchildren).
The paperwork has only come to light this week, my grandmother passed away a couple of years ago and y grandad had been going through all his paperwork. He contacted NS&I and they said that apparently in 1989 the wrote to him and said that they were no longer offering that particular deposit bond and interest would not of been paid as he has not instructed them what to do with it, he is in his mid 80s now and im not sure if this is true or whether e has got the wrong end of the stick.
When i did a bit of research on the web it appears any accounts which are subsequently closed and they can not contact the holder it gets put in a residue account which then earns interest.
I just wondered whether anybody has experience of this I just would of thought that after 23 years the investment should yield at least some interest.
many thanks in advance for any information or advice.
Mrsb86
0
Comments
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I suggest you phone NS&I free on 0500 007 007 for advice.".....where it is corrupt, purge it....."0
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