Anyone else having issues logging into NSandI?

Swipe

charybdis26 said:

Can anyone offer any assurance that they've successfully and straightforwardly returned NS&I funds to their nominated bank account since NS&I's 2FA security upgrade to online software last summer?

My own transfers between various accounts and several top-ups have proceeded smoothly enough, but it's concerning that their software still seems incredibly unreliable and capricious to many users posting on TrustPilot - with NS&I showing no inclination to acknowledge or fix persistent glitches.

I've no immediate plans to cash in, but with so many users reporting obstacles to getting hold of their own money, I'm feeling nervous that should the need arise, I'll have a battle on my hands accessing my money in a timely fashion.

Multiple withdrawals on consecutive days from my direct saver to my nominated worked fine a couple of months ago but make sure you test it with a small amount first. It normally arrives mid afternoon the next working day.

ranciduk

Recently made several withdrawals from my PB’s back to my nominated account over several weeks 
 
not a single hitch

charybdis26

Thanks @P1Fanatic,  @Swipe, @ranciduk for your feedback and advice. It's reassuring to hear of things working as they should. I will pilot a small withdrawal myself and see how things work out.

I fell foul of exceeding their "trusted device limit" at the start of the switch to 2FA but have had no problems since.

I've no great confidence in the robustness of the current system because of the reported bugs and I've been further spooked by reading the daily horror stories on Trustpilot, where people have struggled to withdraw their own money at times.

--------------------------------------------------------------------------

Have just asked to withdraw £50 from my Direct Saver account but first had to submit answers to 2 security questions which I wasn't expecting. Mad scramble to find where I'd noted down the answers to questions I'd been asked 10+ years ago!

ranciduk

It takes 3 working days to get in your account they claim - but I did mine on Mondays and always had the money in my account by Wednesday morning 

avoid doing it end of week or weekends will make it take a lot longer 

Swipe

ranciduk said:

It takes 3 working days to get in your account they claim - but I did mine on Mondays and always had the money in my account by Wednesday morning 

avoid doing it end of week or weekends will make it take a lot longer 

Withdrawal from their Direct Saver is next working day. So worth having one just to speed up PB withdrawals and can be used to fund other NS&I accounts

charybdis26

Can confirm yesterday's transfer request from my Direct Saver account has just appeared in my nominated account next day. Great tip to use the Direct Saver as a feeder account. Thanks.

PragueAddick

charybdis26 said:

Can confirm yesterday's transfer request from my Direct Saver account has just appeared in my nominated account next day. Great tip to use the Direct Saver as a feeder account. Thanks.

i'm less enamoured with it, I have to say, having followed the tip in order to fund a new guaranteed income bond. I paid into the Direct Saver on Tuesday by debit card, and the funds showed up next day, so I tried to apply for the bond selecting the option to fund it from my Direct Saver, yet it kept telling me the funds were not there. Finally after contacting customer service on Twitter (I wont bore you with what happened when i first tried chat and the supposed phone help line) I was blithely informed that it takes up to "seven bank days" for debit card transfers to process. So there.

Seven working days? On what planet is that OK? I often pay into Hargreaves Lansdowne by debit card and can invest the funds during next working day. 

Swipe

It's well known that NSandI take an age to clear funds but at least you are getting 2.85% on your money from the moment you make the debit card transaction into the DS.

PragueAddick

Swipe said:

It's well known that NSandI take an age to clear funds but at least you are getting 2.85% on your money from the moment you make the debit card transaction into the DS.

Yes that's something. But their overall systems seem very clunky, and I wonder why they do not study and benchmark the processes of rivals for our deposits and seek to be as good.

Swipe

PragueAddick said:

Swipe said:

It's well known that NSandI take an age to clear funds but at least you are getting 2.85% on your money from the moment you make the debit card transaction into the DS.

Yes that's something. But their overall systems seem very clunky, and I wonder why they do not study and benchmark the processes of rivals for our deposits and seek to be as good.

I guess they don't need to be competitive. It's the perfect place to dump large sums for those who can't be bothered to chase rates and split £85K chunks across banks.