Premium Bonds

Tansor

Hi could I have a view on this please
I purchased quite a lot premium bonds for my son a few years ago and as a child this could be viewed/managed via my log into NS&I website
When he turned 16 this visibility was removed by NS&I and he applied for access to view his account on line - you would of thought this would of been done automatically when they removed access from my account but apparently not. Plus the on line application has to be printed out and sent by post!
This was over 4 weeks ago and still nothing has arrived-  he cannot see his account or indeed talk to anyone who can tell him Having tried on the phone to get through for about 45 minutes we finally spoke to someone who said they where running behind and only processing applications for online access from 17th Oct at the moment and we 'just needed to be patient' 
So my son cannot access his saving, cannot see his saving and has no control over his savings in the interim - is this legally allowed?

lincroft1710

As there are some forms of savings which you cannot access during their term, it is doubtful if your scenario is "illegal".

davidmcn

Tansor said:

So my son cannot access his saving, cannot see his saving and has no control over his savings in the interim - is this legally allowed?

I doubt there's anything unlawful about a temporary delay in him having online access, no. Is there actually any urgency in him doing so?

sheramber

Is it savings or premium bonds? 
There's not much you can do with premiums bonds apart from buy and sell them.
You can check for any winnings using the bond numbers.

calleyw

sheramber said:

Is it savings or premium bonds? 
There's not much you can do with premiums bonds apart from buy and sell them.
You can check for any winnings using the bond numbers.

I was trying to work out what the OP's son was wanting to do if its premium bonds. I don't have on-line access and just let them sit there if I get a win a letter comes through the door.  Not sure what control he wants unless he wants to sell them all.  The mind boggles. 

Never think that we are still dealing with pandemic and that some things are going to be delayed. 

Yours

Calley x

bris

Premium bonds aren't interest bearing so if he has £100 in bonds then he will always have £100 in bonds. What exactly is it he wants to see?

Tansor

Thanks All feedbacks much appreciated

dinglebert

I had to do this a few months ago.  It is a long drawn out process which I think at took three months in total before my son managed to see his own account.  It was a system which frankly needed looked at given how complicated they made it.

LadyDee

Because it is so easy to just cash in Premium Bonds is exactly why the process of registering them to your son is done this way.  Imagine coming across somebody's Premium Bond number, then simply registering them as yours by opening a new account and getting the cheque or bank deposit.

liggerz87

How I won access to my disabled son's frozen Child Trust Fund savings https://thismon.ee/a/8978671 was it this you mean