NS&I Income Bonds

SAB123

I have tried to download a form to open an account (20/6/20) and was told it is no longer possible and they are not taking calls from new customers because of Covid 19. thought I would let you know as it is a recommended account for easy access.

Archi_Bald

SAB123 said:

I have tried to download a form to open an account (20/6/20) and was told it is no longer possible and they are not taking calls from new customers because of Covid 19. thought I would let you know as it is a recommended account for easy access.

You can apply online. No need to download any forms.

RetSol

I have very recently opened an NS&I income bond account online (having previously opened a direct savings account online and received the log-in details in the post). I have since paid sums into the income bond account using a debit card.  I have found the whole process very straightforward and not experienced any dramas. 

blue_max_3

I have premium bonds, income bonds and a direct saver with them. The PB winnings go into the DS. The interest from the IB goes into the DS. 
I make my savings into my DS account and transfer to the IB. The balance shows next day in the DS account. Usually after about 9.30am. Then I transfer to the IB, which happens immediately.
Very happy with it all and no worries about having too large a balance.

oldwiring

Can investments be made jointly? At our time in life it would  simplify estate matters.

colsten

oldwiring said:

Can investments be made jointly? At our time in life it would  simplify estate matters.

Yes, NS&I Income Bonds can be held as joint accounts.

RG2015

oldwiring said:

Can investments be made jointly? At our time in life it would  simplify estate matters.

Yes.
Our Income Bonds account is for customers aged 16 or over. You can open an account in your own name or jointly with one other person. You can also invest in trust for someone else.

https://www.nsandi.com/income-bonds

noh

Biggus_Dickus said:

I made a formal complaint by phone to NS&i yesterday  about the time lags when it comes it to transferring money out of the account at certain times of the month.

I had a call back this morning to say they’d passed my concerns on to the relevant depts for attention. They also offered me £25 for ‘any inconvenience’.

Can’t see much changing at NS&I but at least it’s another £25 for my favourite charity, Barnardos.

 

 

Looks like they took notice of your complaint as there is now a notice on the income bond online account that explains a lag will occur.

RG2015

noh said:

Biggus_Dickus said:

I made a formal complaint by phone to NS&i yesterday  about the time lags when it comes it to transferring money out of the account at certain times of the month.

I had a call back this morning to say they’d passed my concerns on to the relevant depts for attention. They also offered me £25 for ‘any inconvenience’.

Can’t see much changing at NS&I but at least it’s another £25 for my favourite charity, Barnardos.

 

 

Looks like they took notice of your complaint as there is now a notice on the income bond online account explains that a lag will occur.

I imagine they would have had a barrage of complaints. Wonder how many £25's were despatched?

hoc

blue_max_3 said:

I make my savings into my DS account and transfer to the IB. The balance shows next day in the DS account. Usually after about 9.30am. Then I transfer to the IB, which happens immediately.
Very happy with it all and no worries about having too large a balance.

Do you have just the one linked current account to both? I like the idea of using DS to more quickly access IB. Does this work in both directions, taking money out of IB as well as paying in faster than otherwise? Do you do bank transfer from current account or debit card payment into DS? This thread has contrasting opinions on which is better. Card payment seems more "secure" to some due to confirmation and appearing instantly (interest is earned immediately although funds can't be accessed until they clear and become available), bank payments may not show up for a few days but become available quicker than card payments. For truly instant it would appear to be debit card into DS and then into IB but I suppose DS won't allow transfer into IB until the payment has actually cleared which takes several days.