Ns&i Green Bonds

Thrugelmir

ranciduk said:

Can someone clear up for me?

do you have to buy all the bonds in one lump?

or is it ok to by them in individual chunks - over a few weeks?

Minimum purchase is £100. Buy as often as you like up to the maximum holding limit. 

ranciduk

Thrugelmir said:

ranciduk said:

Can someone clear up for me?

do you have to buy all the bonds in one lump?

or is it ok to by them in individual chunks - over a few weeks?

Minimum purchase is £100. Buy as often as you like up to the maximum holding limit. 

So its ok to buy say £5k worth one week, then another £5k the week after and so on and so on?

ranciduk

IanManc said:

ranciduk said:

Minimum purchase is £100. Buy as often as you like up to the maximum holding limit. 

So its ok to buy say £5k worth one week, then another £5k the week after and so on and so on?

The Key Features document says: "Each Bond you buy must be at least £100. You can invest up to a total of £100,000 per person in any one Issue. You can buy as many Bonds as you like, up to this investment limit."

416070.pdf (nsandi.com)  

Perfect 

thanks for that 

refluxer

ranciduk said:

So its ok to buy say £5k worth one week, then another £5k the week after and so on and so on?

Why would you want to do this so frequently and for how long ?

Creating a 'savings ladder' over time by opening fixed rate accounts with different providers can be a good option because you can take advantage of the highest rates available at the time (which are gradually increasing at the moment), however the rate offered on these NS&I bonds is likely to remain the same for quite a while I would imagine, so I'm not sure what the benefit would be. Splitting a couple of accounts over different tax years could be advantageous though, as previously discussed.

ranciduk

I just don’t want to do one big massive debit card payment all in one go

I prefer to do it in much smaller increments, say 5k at a time 

this will take a few weeks but I just prefer to do it that way 

Daliah

ranciduk said:

I just don’t want to do one big massive debit card payment all in one go

I prefer to do it in much smaller increments, say 5k at a time 

this will take a few weeks but I just prefer to do it that way 

You cannot add to an existing Green Saver account - it is a one-time deposit only. You would need to open a new Green Saver account every time you make a deposit. I believe it is possible to have multiple Green Saver accounts. What I don't know is whether the max £100K is per Bond or per Bond holder, but you can find that out from NS&I if needed.

You can make your deposit to the Green Saver by debit card or by transfer from another NS&I account, e.g. from a Direct Saver. You can add money to a Direct Saver by bank transfer, and you can do the usual £1 test to be sure you have set up your Direct Saver payee correctly. Once in the Direct Saver, it's then simple to transfer the required sum to the Green Saver, as part of the application for it. This way you can fund your Green Save with much larger sums.

I still fail to see the attraction of this account...........................

refluxer

ranciduk said:

I just don’t want to do one big massive debit card payment all in one go

I prefer to do it in much smaller increments, say 5k at a time 

this will take a few weeks but I just prefer to do it that way 

Fair enough - I just thought when you said "and so on and so on" that you were planning on doing this weekly over many months, which wouldn't give any obvious benefit.

I'm not sure exactly what the options are when buying the bonds, but I've bought Premium Bonds in the past with much larger amounts than £5k in a single transaction and not had any issues.

ranciduk

Help!

last night I logged into my Ns&i account to buy some green bonds

everything went through ok until the last second when it came up that they were having technical difficulties!

i check with my bank and no money had left my account but it said the amount was pending

anyway tonight I just checked my bank again and the money has now been debited to Ns&i!

but when I log into my Ns&i account there is no record of anything 

and so I rang Ns&i and they are telling me they have no record of it and to just wait?!?

i don’t know what to do now and am scared my money has just disappeared down a black hole somewhere 

Malthusian

ranciduk said:

and so I rang Ns&i and they are telling me they have no record of it and to just wait?!?

i don’t know what to do now and am scared my money has just disappeared down a black hole somewhere 

The obvious course of action is to wait.

If it has still not appeared after a couple of weeks I would make a formal complaint.

Bear in mind you are dealing with a Government department.

The worst case scenario is that either your bank or NS&I have lost your money down a black hole and it will take some time for the guilty party to refund you with interest. But this was a 3 year bond so presumably you don't need the money to buy bread next week.