NS&I have stopped accepting/making payments

RG2015

badger09 said:

eskbanker said:

coachman12 said:

eskbanker said:

coachman12 said:

Archi_Bald said:

RG2015 said:

polymaff said:

RG2015 said:

Yes, I was able to proceed. I was just surprised that the NS&I bank was not part of the COP scheme.

As one of their usual excuses for paltry service is that "we are not a bank" - that fits the curve...

I did an online sort code checker and it came back as The NS&I Bank.

Someone must think they are a bank to give them a sort code.

Whilst most sort codes are allocated to banks, having a sort code doesn't make a company or organisation a bank. Nationwide has sort codes and isn't a bank. I believe some other Building Societies also have their own sort codes. Revolut, not a bank, has got their own sort code. IIRC, HMRC has got their own sort codes, too.  NS&I aren't a bank.

NS&I ARE a bank. ...

Have you advised them of this, as they say they're not, at https://www.nsandi.com/why-save-with-us

We're not a bank

We simply offer cash savings and investments. That's all.

https://www.gov.uk/government/organisations/ns-i

Yes, that gov.uk page refers to them as a 'savings bank', which does indeed include the word 'bank', just like blood bank, sperm bank and riverbank do!

Whether or not an institution is accurately labelled as a bank will largely depend on context though, so returning to the start of this nest of quotes, they're obviously not similar enough to fully-fledged 'proper' banks to participate in CoP....

You omitted eskbanker.

Oh, wait a minute..... you're not a bank....... are you?

Is that the east bank or the west bank of the Esk? I believe that Dracula inhabits the east bank. Now what may he have in common with a financial institution?

Sapphire

harsh_but_fair said:

At the risk of teaching everybody to suck eggs all you have to do is 1. set up an NS&I direct Saver 2.use faster payments from your current account to send money to that direct Saver this takes one day to appear 3. once in the direct Saver use it to buy eg premium Bonds, income bonds or whatever you want

that is the way it has worked for the last 20 years and indeed I tried it yesterday and it still works

Just stop with the whinging

Unfortunately, this has not worked for me. I transferred two lots of money by faster payments from my current account to my ISA on 30.5 and the smaller one went through on 2/6. The larger amount has not yet showed up on 8/6, and there is nothing showing under any 'Pending' transactions. Very worrying.

st182

Sapphire said:

harsh_but_fair said:

At the risk of teaching everybody to suck eggs all you have to do is 1. set up an NS&I direct Saver 2.use faster payments from your current account to send money to that direct Saver this takes one day to appear 3. once in the direct Saver use it to buy eg premium Bonds, income bonds or whatever you want

that is the way it has worked for the last 20 years and indeed I tried it yesterday and it still works

Just stop with the whinging

Unfortunately, this has not worked for me. I transferred two lots of money by faster payments from my current account to my ISA on 30.5 and the smaller one went through on 2/6. The larger amount has not yet showed up on 8/6, and there is nothing showing under any 'Pending' transactions. Very worrying.

Your ISA is not a direct saver? i could be wrong, but the way I read it is you need a direct saver account to try the above.
I'm reading this thread with interest- I have recently opened an income bonds, direct ISA and direct saver account with them- no problems here so far.

Archi_Bald

My debit card deposit made on June 2 has now been added to my Income Bond transactions list sometime during the day today, and the account balance got updated. The transaction date shows as June 2.

Sapphire

st182 said:

Sapphire said:

harsh_but_fair said:

At the risk of teaching everybody to suck eggs all you have to do is 1. set up an NS&I direct Saver 2.use faster payments from your current account to send money to that direct Saver this takes one day to appear 3. once in the direct Saver use it to buy eg premium Bonds, income bonds or whatever you want

that is the way it has worked for the last 20 years and indeed I tried it yesterday and it still works

Just stop with the whinging

Unfortunately, this has not worked for me. I transferred two lots of money by faster payments from my current account to my ISA on 30.5 and the smaller one went through on 2/6. The larger amount has not yet showed up on 8/6, and there is nothing showing under any 'Pending' transactions. Very worrying.

Your ISA is not a direct saver? i could be wrong, but the way I read it is you need a direct saver account to try the above.
I'm reading this thread with interest- I have recently opened an income bonds, direct ISA and direct saver account with them- no problems here so far.

I think the issue may be solved. I managed to get through to NSandI this morning, after a long wait on the phone, and spoke to a very helpful lady. What happened was that I needed to sign a form (it arrived this morning) for this tax year in order to pay in money into my existing ISA. She said that the larger amount I'd paid to NSandI (via faster payments from my bank account) was visible on her screen under pending (it is not visible on my screen as such, though, hence my initial worries). I've now sent off the form – she said the money would be paid in as soon as they receive it.

I have bonds, which I have carried over, as well as premium bonds, also held for years. No complaints or worries, until my sudden fright the other day.

quirkydeptless

I have just opened a new Income Bonds account. Paid in £500 by Debit card and was there straight away. Took less than 10 minutes as an existing customer (from holding Premium Bonds).

Sea_Shell

quirkydeptless said:

I have just opened a new Income Bonds account. Paid in £500 by Debit card and was there straight away. Took less than 10 minutes as an existing customer (from holding Premium Bonds).

Snap!!!

quirkydeptless

Sea_Shell said:

quirkydeptless said:

I have just opened a new Income Bonds account. Paid in £500 by Debit card and was there straight away. Took less than 10 minutes as an existing customer (from holding Premium Bonds).

Snap!!!

Actually now bumped it up to £1200 so I get exactly £1.16 income a month. I'll try not to spend it all at once

Archi_Bald

it’s not surprising that your deposits show immediately now. Try another deposit after June 22nd and before July 5th and see how that one’s going.

RG2015

quirkydeptless said:

Sea_Shell said:

quirkydeptless said:

I have just opened a new Income Bonds account. Paid in £500 by Debit card and was there straight away. Took less than 10 minutes as an existing customer (from holding Premium Bonds).

Snap!!!

Actually now bumped it up to £1200 so I get exactly £1.16 income a month. I'll try not to spend it all at once

I feel like you have set a trap for the pedants but I will bite anyway.

You would get £1.18 on August 5th and September 5th and £1.14 on October 5th and so on.