Payments into NS&I

Sally1000 · 13 January 2018 at 2:37PM

Quick question... I will have some residue over from the sale of my house, and want the solicitor to pay direct into my NS&I Direct Saver. It's slightly more complicated because it has to be paid into NS&I holding acct, and my account number put in as the reference. Am I right in assuming this information is correct (I have had contrasting information from NS&I), and has anyone experienced this process? Many thanks for an interesting and informative forum Martin and Co!

xylophone · 13 January 2018 at 3:10PM

https://www.nsandi.com/files/published_files/asset/pdf/direct-saver-brochure.pdf

https://www.nsandi.com/can-i-buy-bank-transfer-or-regular-standing-order

Direct Saver

All your deposits must be from a UK bank account in your own name.

agrinnall · 13 January 2018 at 5:11PM

I put money from a house sale into a Direct Saver account and there was no need to go through a NS&I holding account, I simply did Faster Payments directly into the Direct Saver, although that was from another of my own accounts so I was compliant with the rule that xylaphone has posted. This was a few years ago so it's possible that it's changed since then - I no longer use the account, although it is still open.