Savings Bond

givememoney

I have opened a savings bond with NCBS.


I expected them to put interest back in the account, but they sent it to my bank account.


As it is a Bond, does that mean they original sum cannot be added to?

xylophone

When you opened the account, was there no box to tick for pay out to bank account/add to this account?

Example of terms http://www.ncbs.co.uk/savings/easyaccess/4th-issue-bond-saver-account.aspx

givememoney

xylophone wrote: »

When you opened the account, was there no box to tick for pay out to bank account/add to this account?

Example of terms http://www.ncbs.co.uk/savings/easyaccess/4th-issue-bond-saver-account.aspx

Yes that example you gave me says no additions
I

xylophone

Yes that example you gave me says no additions

The box on the right points you to the information booklet.

On page 3

"The Bond Saver pays a variable rate of interest
which we are able to alter with immediate
effect. Notice of an interest rate change will be
given by personal notice. The interest earned,
which is paid annually on 1 September, will
be added to your account. If you prefer, your
interest can be paid to another account with
us or directly to your pre-nominated UK bank
or building society account."

The application form has a box to tick to make your choice?

When you completed your application, were you given the choice?

alanq

I have a different problem. Applying for an 18-month bond, I ticked the box for monthly interest but later discovered that I had been issued a certificate for interest to be paid on the anniversary and on maturity to the account.