NS&I to increase premium bonds prize fund rate from 1.00% to 1.40%

ranciduk

3 days???? Wow

ok thanks very much 

Thumbs_Up

ranciduk said:

3 days???? Wow

ok thanks very much 

3 Working days.

ranciduk

Well it’s now no longer pending so it was 1 working day in the end!

P1Fanatic

NS&I tend to be a bit slow with most things tbh. I tried adding to my Premium Bonds via BACS transfer once and that took more than 3 days to appear so I stick to card payments on their website now (would be much handier if you could do this via their App even better if they supported apple/googlepay).

MX5huggy

They seem really keen to push towards BACS, presumably this is the cheapest method for them. 

Nath4n

I believe that even if the debit card transaction shows as 'pending'. If you 'make' this transaction at NS&I before midnight on the last day of the month (even if a weekend), the deposit amount is still entered for the next full month draw - even if the actual transaction posts later on your account etc. I'm sure I've made a deposit at 11.30pm on say 31st March - and had it say £x will be eligible in the May draw. But someone may come along and correct me...

Albermarle

ranciduk said:

3 days???? Wow

ok thanks very much 

If you keep a close eye on your current account, you will see some transactions immediately are reflected in your balance, whilst others stay pending for various amounts of time ( not just with NS&I) . Why the difference ? I have no idea?

OldMoneySaver

P1Fanatic said:

NS&I tend to be a bit slow with most things tbh. I tried adding to my Premium Bonds via BACS transfer once and that took more than 3 days to appear so I stick to card payments on their website now (would be much handier if you could do this via their App even better if they supported apple/googlepay).

MX5huggy said:

They seem really keen to push towards BACS, presumably this is the cheapest method for them. 

Just to be clear, you can't actually pay into NS&I via BACS as such, although they make some of their outbound payments that way - transfers from personal current accounts will be handled via the (different) Faster Payments mechanism, but won't be credited immediately:

If you’re investing by bank transfer:

When you make a bank transfer, the money takes 2 to 3 banking days to reach your account. This is because NS&I is not a bank, so we can’t receive payments directly into individual NS&I accounts – they have to go through our clearing bank first.

metrobus

So only now losing 7.6% of your cash when you factor in 9.0% inflation.

NedS

metrobus said:

So only now losing 7.6% of your cash when you factor in 9.0% inflation.

Ultimately debt has to be repaid. It can either be devalued by high inflation or repaid through high(er) taxation. There is no free lunch