NS &I Savings Accounts

JanB1608

Removed NS&I

JGB1955

I've opened an Income Bond in the last week with no problems .....

..... and there are lots of financial institutions that won't accept transfers in of ISAs.

xylophone

I wanted to open the Income Bond Account, however, it appears that they are not allowing new customers due to COVID,

Are you sure of this? https://www.nsandi.com/income-bonds

It appears possible to "apply now" ?

Also the Direct Saver ISA is bein recommended but the information from MSE does not tell you that you cannot move money from another ISA into a NS & I ISA.

It does.

https://www.moneysavingexpert.com/savings/best-cash-isa/

We note in all our best buys below whether an ISA allows transfers into it.
The chart shows an X for NS &I under "Transfer in allowed" which is clear enough?

grumiofoundation

Technically Martin Lewis/MSE aren't recommending the accounts.

Didn't realise NS&I income bonds weren't taking new customers - I can't see that published anywhere either.

 the Direct Saver ISA is bein recommended but the information from MSE does not tell you that you cannot move money from another ISA into a NS & I ISA. 

The MSE ISA webpage clearly states ISA transfer in is not allowed. 
https://www.moneysavingexpert.com/savings/best-cash-isa/

Cynergy ISA offers the same interest rate and does allow transfers in so this would be an alternative for you.

 I would appreciate a response 

I don't believe Martin Lewis himself trawls the forums if you are hoping for a response from him personally. What response are you looking for?

colsten

JanB1608 said: I wanted to open the Income Bond Account, however, it appears that they are not allowing new customers due to COVID

@JanB1608, where did you see/hear they are not accepting new customers for the Income Bonds?

Neil_Jones

JanB1608 said:

Hi...MSE has recommended the NS & I savings accounts, I already have premium bonds and money in savings that is not earning any interest (or at least very minimal) I wanted to open the Income Bond Account, however, it appears that they are not allowing new customers due to COVID, is it fair or indeed prudent to be talking and recommending these accounts on tv, in the newspaper and on this site when they are not being offered at this time? I would appreciate a response as I am very disappointed having seen this information publicised a number of times, I wanted to create accounts for both me and my father. Also the Direct Saver ISA is bein recommended but the information from MSE does not tell you that you cannot move money from another ISA into a NS & I ISA. If MSE are going to suggest these accounts surely they need to be available for people to access which currently the Income Bond account isn’t and the ISA won’t accept monies from another ISA, very disappointing.

Well I don't know what you were trying to do but I just went through the motions to open an Income Bond and there is no mention anywhere that I have seen that you cannot open an account.  I have now opened one literally two minutes ago and had no issues whatsoever.  They are still available.

Re: the Direct Saver ISA, it tells you this on the website, you cannot transfer your ISA, and it also says on MSE.  Not entirely sure what website you've been looking at, its plain as the nose on your face as far as I can see.

SFindlay

JanB1608 said:

Hi...MSE has recommended the NS & I savings accounts, I already have premium bonds and money in savings that is not earning any interest (or at least very minimal) I wanted to open the Income Bond Account, however, it appears that they are not allowing new customers due to COVID, is it fair or indeed prudent to be talking and recommending these accounts on tv, in the newspaper and on this site when they are not being offered at this time? I would appreciate a response as I am very disappointed having seen this information publicised a number of times, I wanted to create accounts for both me and my father. Also the Direct Saver ISA is bein recommended but the information from MSE does not tell you that you cannot move money from another ISA into a NS & I ISA. If MSE are going to suggest these accounts surely they need to be available for people to access which currently the Income Bond account isn’t and the ISA won’t accept monies from another ISA, very disappointing.

Think you've made the mistakes not anyone else but like ALL financial services whether online, tv, face to face or written then YOU have to make the decision what to do with YOUR money!!
MSE do not offer financial advice they provide links to top paying accounts, the small print and decision if its suitable for YOUR individual needs can only lie with yourself after doing full research. Would you prefer they didn't provide you with the best  buys and let you search for them yourself?? If so simply ignore MSE results and crack on with your Google research!! 

MinuteNoodles

JGB1955 said:

I've opened an Income Bond in the last week with no problems .....

Would have been my last choice. Interest doesn't compound, you can only deposit and withdraw £500 minimum so if you're a regular saver unless you're regularly saving £500 a month you'll lose out on interest as you save up enough to make a minimum deposit and if you withdraw you're likely to have to withdraw more than you need with that excess money now losing interest.

Lumiona

If you have premium bonds you are not a new customer. You'll be able to apply with no problem online using your Nsandi.com customer reference.

JanB1608

Thanks for ALL your comments, note to self, never engage with forums of this nature as people are so quick to criticise and want to have a go but not help.

grumiofoundation

JanB1608 said:

Thanks for ALL your comments, note to self, never engage with forums of this nature as people are so quick to criticise and want to have a go but not help.

Since you didn't give any indication what help you wanted what help did you expect people to give?