NS&I: switch from Income Bonds to Premium Bonds

colsten

turnerroad001 said:

Speedbird676 said:

colsten said:

Even if you had to first open a PB account, it should not have taken more than 5 minutes to make this transfer yourself. If your transfer is still not complete, you could still transfer it yourself now. By the time they come to process your form, they will notice it's already been done.

Exactly my thoughts.

I opened my Premium Bonds account and transferred funds from my Income Bond to Premium Bonds in all of about five minutes.

How did you do it? There is no option to pay for PM via Income Bond

See this post: https://forums.moneysavingexpert.com/discussion/comment/78028066/#Comment_78028066

tigerspill

I read in various places that this NSI transfer process was a disaster.
I just took the cash from my IB account in chunks into my normal bank account and then bought PBs with my debit card.  A little bit of faff but worked flawlessly and took a few days.

colsten

tigerspill said:

I read in various places that this NSI transfer process was a disaster.

Calling the transfer a disaster is almost certainly a vast exaggeration, or the transfer wasn't done online. Whilst I have never transferred from IB to PB myself, I have transferred from IB to DS, and that was a complete doddle. Judging by the post I linked to above, it is nearly as simple to transfer from IB to PB.