NS+I delays

pollypenny

Hmmm, a very timely thread. in view of the pathetic interest rate, I want to close my income bond and use it to buy premium bonds.   I will transfer to my bank first. 

CFrog

pollypenny said:

Hmmm, a very timely thread. in view of the pathetic interest rate, I want to close my income bond and use it to buy premium bonds.   I will transfer to my bank first. 

Why transfer funds to you bank?  I set up a PBond a/c for my Dad and did the transfer 'internally' by switching from one account to the other; it was completed in a day or so.  I can't find a link on their web site.  Have a 'chat' with them; I found them very helpful.
There is another thread on MSE that you could look at too; search " NS&I: switch from Income Bonds to Premium Bonds"

colsten

pollypenny said:

Hmmm, a very timely thread. in view of the pathetic interest rate, I want to close my income bond and use it to buy premium bonds.   I will transfer to my bank first. 

There's no need to go via your current account.

Just set up an NS&I Direct Saver if you haven't got one already.

Then transfer your NS&I Bonds to the Direct Saver (you may have to change your nominated account to the Direct Saver first).

From the Direct Saver, transfer to PBs. You can then withdraw any surplus from the Direct Saver to your current account.

Intenso

I'm still unable to access my PB acount online but I have recieved two cheques for prizes in the January draw.

So it seems that my savings have been transfered to PB but my account has not be set up...

eskbanker

Intenso said:

I'm still unable to access my PB acount online but I have recieved two cheques for prizes in the January draw.

So it seems that my savings have been transfered to PB but my account has not be set up...

And unless they've bent their own rules, they must have completed that transfer back in November if the bonds were in the January draw....

happybagger

happybagger said:

They are sure now to have a whole load of pensioner bond maturities to deal with too. Both my parents had these and they have just come to maturity (3yrs + 3 yrs), NS&I balance now zero but not yet received at bank. We'll see how long it takes...

One bond with online instructions given - funds received next working day.
Other bond, with printed form sent a week earlier (due to being unable to access that account) - funds received on day 2.

For us, at least, can't complain.