Pensioner Bonds now on sale

Geoffo_M

notbritishgas wrote: »

Was the bank Santander by any chance?
I thought I was lucky at about 7.45 this morning, website quite quick, went through the lengthy application til I got to pay. It got to the Mastercard version of the Verified by Visa when it was declined, the reason given was " cardholder not present":mad:

Yes identical circumstances to mine, exactly same reasons as well but not Santander - mine was Lloyds, I wonder how many different bank's debit cards this is happening to?

Dovestones

Further to my #144 earlier, the pending payment went this evening and at 2000 I had an email saying my account was open! Quite painless really in view of the demand I guess!
Wonder if they don't sell the full £10 billion whether we might a second bite of the cherry?
Good luck with all your 'hanging' applications!

[Deleted User]

halifax payment has been claimed, that was for the 8.30am application. I am still awaiting the 12.30 application from smile to be claimed

mike88

kittie wrote: »

halifax payment has been claimed, that was for the 8.30am application. I am still awaiting the 12.30 application from smile to be claimed

If you have a reference number then there will be no problem. Those of us who have no reference number and find the money is not showing in our bank accounts (in limbo) are the one's who don't know whether we have a bond or not.

alanq

frankie wrote: »

Nowhere does it say who the cheque is to be payable to so took a chance with just 'NS&I'

I looked and did not find this information on the NS&I web site. Others also failed and contacted Radio 4's You And Yours programme which relayed the information from NS&I that cheques should be made payable to "National Savings & Investments".

The MSE Guide also contains this information.
http://www.moneysavingexpert.com/savings/pensioner-bonds

Often banks tell us to make cheques payable to ourselves when making deposits. I suppose NS&I's way is more secure as it prevents a stolen cheque being paid into an account in ones name opened with another organisation by a fraudster. NS&I requires cheque deposits to come from a bank account in the applicant's name.

ETA:
The information may or may not appear on the application form depending which version is found.

NS&I 764A (2015 02) says "Post your completed form and cheque (one per application) made payable to ‘National Savings and Investments’ to: ..."

NS&I 764A (2015 01) says "Post your completed form and cheque (one per application) to:..."

It seems to be pot luck which version of the form one finds by following links on the NS&I web site.

[Deleted User]

The second application has now been claimed from smile

Mike I had 4 e mails without reference numbers and I took the view that I would try again until I got a reference number. The fifth one was good and that is the one claimed today.

ColdIron

Another tweet from George Osborne

Can confirm £1,153 million of bonds sold in 2 days to over 110k pensioners. Total of £10bn available - so plenty left & on sale for months

incesticde

Hi,
I'm going to do this for my parents today and was wondering: do you have to put the cash in straight away upon applying(and if so how? By debit card) or is there time to post a cheque ?.

Edit.
Looking at the guide it looks like you have to put in £500 per bond straightaway which is fine, for the rest of money I'll need to move their savings out of another account (post office) so will I have time to do that
Many thanks

mike88

kittie wrote: »

The second application has now been claimed from smile

Mike I had 4 e mails without reference numbers and I took the view that I would try again until I got a reference number. The fifth one was good and that is the one claimed today.

Kittie. I have not even received an e mail but the money is awaiting NS&I collection - ie it is no longer showing in my account. In order to avoid multiple applications being approved and to avoid the risk of severe overdraft penalties I was advised by my bank not to make further attempts until the money reappeared in my account after 5 days.

Archi_Bald

dmh007 wrote: »

We can only afford to do the 3 year bond but my son says he will loan us £20k to do the 1 year bond on his behalf ie we pay him back the £20k plus interest from bond after 1 year.

this sounds to me that he will get everything and you will get nothing?

dmh007 wrote: »

What are the tax implications of this for us and our son ?

What tax bands are each of you in? Would either of you be at risk to go into the next level as a result of the interest on the "loaned" £20K? As soon as the money is in your account(s), it is legally yours and you are responsible for the tax.

As the money is legally yours/your partner's, it would also form part of your respective estate should either of you pass away. Plus, if any means tested benefits or care became necessary, the money would be treated as yours.