Misleading Savings Certificate Closing Statement

alanq

I recently had an Index-Linked Saving Certificate reach maturity and took no action as I wished it to roll over for another 3 years. Today I received a "Closing Statement" saying that "We've paid the balance in full, including any interest earned, as you instructed". I have never received a statement such as this previously - only details of a new certificate. On calling NS&I I have been told to ignore the statement. This is a known issue and that NS&I will be sending out a letter confirming this.

fifer60

It is not good enough that this is a known issue. NS&I sent me one on dated 1st October, and my father already had similar - so they were not responsible enough to turn off this claimed anomaly.

I will be sending a formal letter to them tomorrow, demanding evidence that they have of any instruction from me, then to confirm that this is an error, and to ask them for corrective actions. They will be warned that they could be non-compliant with the principles of audit. I will give them 5 working days to get back to me -and in writing.

Let's see what happens. This is the sort of government bad management that has put paid to UK AAA rating.