Anyone else not able to withdraw funds from NS&I Direct Saver today?

sweetsand

SpanishBlue said:

https://www.moneysavingexpert.com/news/2020/10/ns-i-customers-struggle-to-withdraw-savings-due-to--technical-is/

Thanks for that. I posted earlier how we found it hard to log in a couple of days ago. we aim to remove the savings not the p/bonds and imo the site is overwhelmed by their unfair, massive cut in rates, unprecedented imo.

pfpf

hi,
whats the timeline on a direct saver for deposited funds (via debit card) to become "cleared funds"?
having deposited on the 28th Sept the funds are still not withdrawable.
thank you.

SpanishBlue

pfpf said:

hi,
whats the timeline on a direct saver for deposited funds (via debit card) to become "cleared funds"?
having deposited on the 28th Sept the funds are still not withdrawable.
thank you.

About a week or so. I also recently opened the same account and was surprised that it took several days to clear my debit card payment.

eskbanker

SpanishBlue said:

pfpf said:

hi,
whats the timeline on a direct saver for deposited funds (via debit card) to become "cleared funds"?
having deposited on the 28th Sept the funds are still not withdrawable.
thank you.

About a week or so. I also recently opened the same account and was surprised that it took several days to clear my debit card payment.

This has caught many people out, who haven't spotted the unusually glacial timescales specified at https://www.nsandi.com/files/asset/pdf/direct-saver-brochure.pdf

Debit card and cheque deposits will clear no later than the seventh banking day after being received

So, a deposit made last Monday should be available by this Wednesday....

Vet

I had to use the phone service to withdraw - 3 working day wait.

londonice

I have to say I must be one of the lucky ones as I have had no problems transferring and closing my affected account.
Received the balance in the time specified, next day.  It's a shame that our national bank were forced to cut their rates as I thought the government would like more of our money to invest.  It's almost like a mini-run on NS&I.

eskbanker

londonice said:

It's a shame that our national bank were forced to cut their rates as I thought the government would like more of our money to invest.

Our national bank is on Threadneedle Street and hasn't cut rates since the reduction in March

Anyway, returning to NS&I, the government has better, more cost-effective ways of raising money than paying savers the sort of interest rates that NS&I have been doing in recent times, so it's not as if those savers were doing the country a big favour!

Margro

I have been trying to withdraw money from the on line saver account for over 3 weeks. I can log on ok and see all of my account details. I can also complete the request to withdraw screen but when I process it I get an error message with instructions to telephone. I have now telephoned on at least 6 occasions and waited for a response. When I get through nobody can make the withdrawal for me. I have made a formal complaint and made further phone calls. My complaint has been acknowledged but no money is being transferred and the same issue repeats itself now. Is anyone els experiencing this problem.