Pensioner Bonds Guide

Dollie21

Thanks to Portman_blue post #156 for alternate phone no. 01253-840007. Be aware that you need to have money already in current account BEFORE you apply for bond. I tried to apply on line but my money was in a Cash ISA. In most cases you can open a savings a/c before you have to transfer your money but NS&I want your debit card and money has to be already in current a/c. I tried to phone 0500 number with no success to check as I didn't want to move my money out of cash ISA then risk not getting pensioner bond and lose my tax free status. I was told there were enough bonds left 'for a few weeks'. I then transferred my money, applied on line, got:) through straight away and money was transferred same day. A success!

mcgsp

I tried an online application but found that I had to be registered and to do that I had to send off a form by post with my details and signature and I've done this but am concerned that there could be a delay in getting registered.

From reading some posts above I now see that I could have sent off an application by post without preregistering.

Even although I've sent off the paper form for registration, could I now just apply by post without a registration number and send a cheque or is that likely to cause confusion?

dc43

Mcgsp

I applied on line on 16th even though I wasn’t registered.
I got an email to say I had been successful and then received my NS&I number by post on 20th.
[FONT=&quot]You could try calling for advice. If you can’t get through on the 500..number try 01253 840007.[/FONT]

mike88

mcgsp wrote: »

I tried an online application but found that I had to be registered and to do that I had to send off a form by post with my details and signature and I've done this but am concerned that there could be a delay in getting registered.

From reading some posts above I now see that I could have sent off an application by post without preregistering.

Even although I've sent off the paper form for registration, could I now just apply by post without a registration number and send a cheque or is that likely to cause confusion?

You don't have to be pre registered to apply online. The question asks whether you are registered and then goes on to say don't worry if you are not as you will be registered during the application process.

mcgsp

More fool me! I started off by trying to register and didn't realise that I could register during the online purchase process.

I think now that I'll go ahead and buy online and then later will phone them to tell then that I've also sent them a registration form in the post. Hopefully that way they'll have taken the payment and will sort out the paperwork afterwards.

LynKingfisher

i have £10K savings currently in a low interest rate cash ISA yielding 1.5%. Should I withdraw these funds to invest in a Pension Bond?

mike88

LynKingfisher wrote: »

i have £10K savings currently in a low interest rate cash ISA yielding 1.5%. Should I withdraw these funds to invest in a Pension Bond?

Yes. It's a far better rate of interest. The 3 year bond is a better bet as you can withdraw it with only 3 months loss of interest. I haven't look into partial withdrawals.

I-LOV-MONEY

Well first of all I tried to apply without the money in my current account, and it got refused.

However, (having finally got my NS&I number and password), I applied last night (having transferred the appropriate funds into my account), and it went through quite smoothly. I got an acknowledgement e-mail back from them confirming it had been "received for processing" . No money has been taken from my account though.

What a waste this money sitting there for almost a week (no interest) while I waited for a password.

colsten

I-LOV-MONEY wrote: »

What a waste this money sitting there for almost a week (no interest) while I waited for a password.

You could have decided to put your money into a Santander 123 if you are concerned about a week's interest. The 123 would probably have paid you more interest over the last year or so than the account you had the £10K in before. Water under the bridge now.

mike88

colsten wrote: »

You could have decided to put your money into a Santander 123 if you are concerned about a week's interest. The 123 would probably have paid you more interest over the last year or so than the account you had the £10K in before. Water under the bridge now.

Doesn't the first £3000 in a Santander 123 account earn no interest and you pay £2 per month to join so I don't see how that would help unless you keep a high balance in that account. Personally I think quibbling over the loss of a fiver in interest is plain daft. Indeed is not the interest back dated to the date of application?