MSE News: Pensioner Bonds launched today: go quick if you want one

Pincher

Success!

Interestingly, they wanted the £10,000 right away, despite a whole bunch of provisos.


"We’ll email you to confirm we've received it.

There are a few things we need to do before we accept your application and send confirmation of your investment.
1. We’ll check your identity and address if we haven’t already done so. We normally do this electronically, but we may also ask you to send us some documents.
2. We may send you a confirmation form to sign and return.
3.When we receive your confirmation form and any documents we’ve asked for, we’ll send you an email to confirm your investment, or an investment record if you’ve asked for a paper copy.
4.We’ll also send confirmation of your NS&I number. You can then start using our online and phone service.

Of course, not all of these steps will apply to you if you’re already a customer and have registered for our online and phone service. We’ll just send you your investment record or email."


So you could look silly if you took the money out of an ISA,
and then they refund the money: application refused.
I suppose they might even partially refund, because it's oversubscribed, but they let you have a smaller amount.

The payment was by any debit card, so the money could have come from any source. I thought they would insist on a cheque in the name of the applicant, or take a direct debit from the registered bank account.

Alter_ego

I did one easily by phone using alternative NSANDI number from saynoto0870.com I got straight through, no queue, no holding.

Pincher

So who's going back for seconds to get the one year bond?

Presumably, once you set up the online login, it's a lot easier.

So, get the 3 year bond up and running, and come back in a couple of weeks to do a one year bond, which is probably the ugly sister that will still be available.

Hosepipe99

Pincher wrote: »

So who's going back for seconds to get the one year bond?

Presumably, once you set up the online login, it's a lot easier.

So, get the 3 year bond up and running, and come back in a couple of weeks to do a one year bond, which is probably the ugly sister that will still be available.

Are you sure there are a fixed number of each bond type? If for example the 10 Billion Pounds was used up on 4 year bonds would there be any 1 year bonds?

oceandream

Was to get an e-mail heads up on these nothing came my husband is eligible so I have been trying all day online and phone to get at least one but no joy!A shambles and would somebody please tell the bbc what is really happening 10 minutes ago they were saying all was well.Have just posted off an application with not much hope of success.ALSO while on Post Office internet banking site on another matter it has also gone down, probably lots of pensioners trying to get maoney to pay for their bonds.

scrants

I also posted my application by Special Delivery. At least I know it will reach them by 1pm tomorrow.

How many people knew they would have to have the money available in their bank to pay by Debit Card? I certainly didn't until I got to the website so, even if I had got logged on I wouldn't have been able to continue until I had transferred the money to my current account.

Both my husband and I were applying so that means getting £20000 in place - 2 days.

Pincher

scrants wrote: »

How many people knew they would have to have the money available in their bank to pay by Debit Card?

I was expecting a form to arrive. The applicant has to sign it, enclose proof of address, utility bills, and a cheque drawn on the applicant's account.

Fortunately, it was a simple transfer from a local account, so it was credited instantaneously.

Pincher

Hosepipe99 wrote: »

Are you sure there are a fixed number of each bond type? If for example the 10 Billion Pounds was used up on 4 year bonds would there be any 1 year bonds?

No idea.

On the other hand, how can you allocate a budget if you did not have a quota for each? Just assume the interest NS&I will be paying out is 4% on £10billion?

twinturbo

Over 9 hours and at last success:), managed to do both, but no guarantee I will actually get what I applied for:(
What A complete and utter shambles :mad:

Alter_ego

scrants wrote: »

I also posted my application by Special Delivery. At least I know it will reach them by 1pm tomorrow.

How many people knew they would have to have the money available in their bank to pay by Debit Card? I certainly didn't until I got to the website so, even if I had got logged on I wouldn't have been able to continue until I had transferred the money to my current account.

Both my husband and I were applying so that means getting £20000 in place - 2 days.

Luckily I was maxed in the Santander 123, so just need to replace the money in Santander tomorrow.