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Short Period

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Transferred some money by Debit Card payment into National Savings, about a week ago.


The Premium Bond money went through in a couple of days, but the Income Bond transfer is showing as pending after about a week. Couldn't understand it, so I rang up to ask what was wrong.


The lady said from the 20th of each month, to the 5th of next month, is called a "short period". New money do not show up until the 6th of the second month, but interest is given from the date the money actually arrived. Only applies to Income Bonds. They use the time to "calculate interest"?


Sounds like some kind of pre-computer practice, with people working on accounts by hand.


I like it. I hope they keep my money in a castle with a moat, and feed the alligators with any hackers who tries to get to my money. Take a week to pay out, so any scam will be found out before any money is moved.

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  • badger09
    badger09 Posts: 11,249 Forumite
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    Pincher wrote: »

    I like it. I hope they keep my money in a castle with a moat, and feed the alligators with any hackers who tries to get to my money. Take a week to pay out, so any scam will be found out before any money is moved.

    But what if they keep your money in a cardboard shoe box and the friction from the scratching of the quills on parchment sets fire to it:eek:
  • ColdIron
    ColdIron Posts: 9,166 Forumite
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    That is an unfair reflection on NS&I, everyone knows they use cutting edge technology ... eventually :)
  • eskbanker
    eskbanker Posts: 31,629 Forumite
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    ....and it's literally cutting edge technology they're using on the Premium Bond returns:
    scissors-clip-art-2592136.jpg
  • Pincher
    Pincher Posts: 6,552 Forumite
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    I don't think I'm alone in hankering for the slow mode.


    Sunday Times 27th March 2016, Money Section, page 5.


    Somebody shuns online banking, and writes cheques.


    He still has banking, just not something a hacker can hack into on a computer.
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