NS&I Direct Saver

[Deleted User]

I followed a link from this site to NS&I Direct Saver because it said it was an instant access account, protected by the 'government' with a giant 1% interest rate. I wish I hadn't!

It seems that, like most government enterprises, it's clunky and run by idiots. I found that each time I opened the website it had automatically saved sensitive account details and all I had to do was enter my second name to get access! Maybe there's a way to disable this but I couldn't find it. Then I found the only way to contact the idiots was either by phone 'Due to Covid19 we are doing everything we can blah blah blah...' and hang on forever, or Tweet them! So, you Tweet a a savings platform about your account? They probable thought that Twitter is cool.

So I decide to close the account. Not so easy. I paid money in using a Debit Card from my very efficient bank on 26th June but after 6 days, according to NS&I, it still hadn't 'cleared'! I was eventually informed VIA TWITTER, that with NS&I, money transferred with a debit card takes 'up to 7 days to clear'. 
A complete bunch of idiots!

colsten

You probably told your browser to store parts of your login information. That would be the reason why you only have to enter your surname when logging in. I always have to enter my NS&I number, surname and password because I do not store my login info in my browser.

Even if someone unauthorised can log into your NS&I account, because you were negligent with your login info, all they could do with your money is transfer it to your current account. 

As to the [up to] 7 days for debit card deposits clearance: as has been discussed on here before, whilst it is a long time, your money actually starts earning interest on the day of deposit. The summary brochure for the Direct Saver also clearly states "Debit card and cheque deposits will clear no later than the seventh banking day after being received".

So there don't seem to be any idiots in NS&I.

csgohan4

OP you need to check your privacy settings on your browser and read the T+C.

No one else to blame here but yourself

I put money for premium bonds and was there same day, no issues so far

[Deleted User]

Ok, I have checked and I realise now I was wrong about the security of logins because my browser has indeed saved passwords for some sites and not for others. However, a new bank account I recently opened, whilst saving the login details also uses two factor authentication so I reckon that is what is needed with saved passwords for banking. However, debit cards should never take 7 days to clear - this was confirmed by my bank. 

colsten

thisismyusername1 said:

Ok, I have checked and I realise now I was wrong about the security of logins because my browser has indeed saved passwords for some sites and not for others. However, a new bank account I recently opened, whilst saving the login details also uses two factor authentication so I reckon that is what is needed with saved passwords for banking. However, debit cards should never take 7 days to clear - this was confirmed by my bank. 

Two-factor authentication does not require the saving of passwords in a browser. Passwords only get saved if the user tells the browser to save them. 

If you don’t like that NS&I take up to 7 days to clear a debit card deposit, you are free not to use them. Not sure what your issue with this is, though, as you get interest from the date of deposit, as already mentioned.

Neil_Jones

thisismyusername1 said:

I followed a link from this site to NS&I Direct Saver because it said it was an instant access account, protected by the 'government' with a giant 1% interest rate. I wish I hadn't!

It seems that, like most government enterprises, it's clunky and run by idiots. I found that each time I opened the website it had automatically saved sensitive account details and all I had to do was enter my second name to get access! Maybe there's a way to disable this but I couldn't find it. Then I found the only way to contact the idiots was either by phone 'Due to Covid19 we are doing everything we can blah blah blah...' and hang on forever, or Tweet them! So, you Tweet a a savings platform about your account? They probable thought that Twitter is cool.

So I decide to close the account. Not so easy. I paid money in using a Debit Card from my very efficient bank on 26th June but after 6 days, according to NS&I, it still hadn't 'cleared'! I was eventually informed VIA TWITTER, that with NS&I, money transferred with a debit card takes 'up to 7 days to clear'. 
A complete bunch of idiots!

Yeah, it tells you this when you sign up.  In the T&Cs.  You did read the T&Cs?

And its no more "clunky" than any other website.  The "it had automatically saved sensitive account details" is not a website issue, that's how you set your browser up.