NS&I Junior ISA application problems

RP72

I applied to transfer my son's Nationwide Junior ISA to the NS&I Junior ISA on April 29th but Nationwide have still yet to receive the transfer request (May 18th).  NS&I seem to be having major backlog issues.

Another potential issue that will likely raise it's head is that for Nationwide (and other Building Societies) a junior account does not have a specific sort code / account number.  You give a generic sort code & A/C no. and also unique reference no. for the child's account.  The NS&I online application form asked for name, sort code & a/c number and I was expecting to get a field for the reference number on the next page but that was the end of the application!  Nationwide tell me they'll probably not be able to complete the transfer without the reference number.

NS&I really need to sort their !!!!!! out.  Speaking to their staff on 3 occasions I am getting different info. every time.  I'm now waiting for someone from their ISA department to call me - "Within a week hopefully".

We shall see!


  

MidlandsGlory

They seem to be in melt down. I opened one for my son 10 days ago and logging in shows no account yet, just 'they need to do some checks' No more emails after the initial account number one, nothing in the post such as the mentioned welcome pack. They are ignoring my questions on Facebook.
I am starting to regret doing this, they took the opening payment instantly but we are getting no return. 

Speculator

Same problem.
Transferred my daughters Chorely BS Child trust fund to them on 5th May and uploaded daughters passport as requested.
Junior ISA opened with zero balance but on the 5th of May and got message to upload documents by 18th but if already uploaded within the last 48 hrs, I can ignore message.
Checked again today and it appears the Junior ISA has been closed. 

jonesMUFCforever

So you have all tried to open accounts in the middle of a pandemic and expect everything to run smoothly! Gees I really don't understand the mentality of some people.

Speculator

jonesMUFCforever said:

So you have all tried to open accounts in the middle of a pandemic and expect everything to run smoothly! Gees I really don't understand the mentality of some people.

Not had any problems recently with RCI, Virgin, Nottingham BS, Clydesdale Bank etc.
If NS&I can't cope, they should have stopped opening new accounts like First Direct.

jonesMUFCforever

Unbelievable!

MidlandsGlory

I think it fair to expect most of the processes to be automated, or mostly so such as the generation of a welcome pack so even with a manpower shortage it should still go out reasonably promptly. Perhaps not and it still runs on people with typewriters.

mrmajika

Speculator said:

Same problem.
Transferred my daughters Chorely BS Child trust fund to them on 5th May and uploaded daughters passport as requested.
Junior ISA opened with zero balance but on the 5th of May and got message to upload documents by 18th but if already uploaded within the last 48 hrs, I can ignore message.
Checked again today and it appears the Junior ISA has been closed. 

Had the same issue. It seems that the account showing open then shortly thereafter appearing closed is normal practise for ISA transfers.

Their Twitter support is fairly responsive, if you're wanting reassurance.
Their Junior ISA account is now the clear best buy on the market, after loads of others slashed their rates. I'd imagine that they'll have a load of applications to process, with no doubt significantly reduced staffing, due to the pandemic.

I'm happy to wait it out. 

biddy2101

I am following this thread with interest.  

I took the time at the beginning of April to transfer both of my children's JISA from Nationwide to Coventry BS as at the time their JISA was paying 3.60%.  Winning (or so i thought) ...
...  it was a postal process with Coventry; requested an application pack online but from there on in it was a manual process.  I had to send identification documents via the Post Office (validation service) which cost £25     HOWEVER 1 week later both accounts were opened & the balance from the NW JISA had been transferred.  Winning even though it cost £25 - it was quick.  

How flaming gutted was I, when friend told me that she had tried to look at moving her daughters JISA to Coventry BS but it wasn't coming up on MSE's best buys.  A little investigation & a chat with Coventry BS later & yes the rate had dropped from 3.60% to 2.95%.  SOO NOT WINNING NOW.  

I was going to apply for the NSI JISA but i might wait a couple of weeks.  It looks as though lots of providers of JISA products are slashing their interest rates and this maybe has something to do with the problems people are experiencing with their applications.

RP72

Well the promised phone call from their ISA team never materialized. The money is still in Nationwide.   Will have to call them again later today.

Speculator

Nearly a month now and nothing.
Going to give up now and will leave the money with Chorely BS.