Set up new NS&I saving account

Amac48

Hi guys,
First time here, so hope the question is not to daft
I was just in the process of opening a NS&I bond saving account, which I was going to move my redundancy money into, then drawn down on it once a month.
At the end of the application process, I was asked for my card details and 3 digit security code.
Normally when I have opened online accounts, you are given an account number  and sort code, then after you opened the account you move the money in via your bank account. 
Is it normal to ask for all your details up front, I was hesitating, as it was a large sum of money and seemed a bit odd?
Cheers for any advice or tips.... 

colsten

It's a bit of a peculiar account but nothing to worry about.

https://forums.moneysavingexpert.com/discussion/6148410/ns-i-income-bonds

Amac48

Cheers, I found the other thread a bit further down about the interest.
Thanks for getting back to me, must say its a bit random....

cwmoss

I have a deposit account with a bank that is rumoured to be in trouble. If it goes bust, I know my capital is protected by the FCSC, but can anyone tell me what happens to any interest that has accrued? The deposit matures on 15 July and any interest is paid on maturity. Thanks 

Swipe

cwmoss said:

I have a deposit account with a bank that is rumoured to be in trouble. If it goes bust, I know my capital is protected by the FCSC, but can anyone tell me what happens to any interest that has accrued? The deposit matures on 15 July and any interest is paid on maturity. Thanks 

You will get it all back up to £85K, interest included.

eskbanker

cwmoss said:

I have a deposit account with a bank that is rumoured to be in trouble. If it goes bust, I know my capital is protected by the FCSC, but can anyone tell me what happens to any interest that has accrued? The deposit matures on 15 July and any interest is paid on maturity. Thanks 

FSCS pays interest accrued but uncredited:

5.9 Except where the compensation sum arises from a temporary high balance, the FSCS shall reimburse interest owed on eligible deposits which had accrued, but has not been credited, at the compensation date. The limit provided for in 4.2 [the £85K cap] shall not be exceeded by the payment of any such interest.

http://www.prarulebook.co.uk/rulebook/Media/Get/db8bc539-1fac-49e4-9601-2c78832323e4/PRA_2015_39/pdf