Withdrawing from Premium Bonds

System

This discussion was created from comments split from: NS&I - Unable to withdraw money on website since introduction of 2 factor authentication.

mouse295

I telephoned NSI about 10 days ago to ask advice about withdrawals, we needed to have the money by a certain date, but wanted to remain in the May draw. The lady was most helpful and told me we could “forward book” for the withdrawal immediately after the draw. I never normally do anything with money being happier to leave that to my husband, so I was very apprehensive. The lady told me she could set it up there and then or I could do it online, if we then decided to cancel that transaction simply ring them back right up to the draw, the money was needed towards the final payment on house purchase, this has now fallen through. This morning I rang expecting it to be very strait-forward, but got very conflicting information from a male, not as easy as I had been given to understand. It was left with his assurance that he had passed the request onto another department, and it should be OK! I am so annoyed. I decided to go online and see just how easy that was, but I cannot find anything saying “how to cancel a forward order to withdraw” I went through 23 Pages from their link, but no further on. Can anyone please advise. I tend to worry a lot especially at the moment with the house falling through, that was the 3rd one we have tried to buy recently, so fed up. Thank you for any help. 

eskbanker

Page 8 of the customer agreement confirms that you can cancel an advance request to cash in, so you're undoubtedly entitled to do it, but it doesn't specify exactly how, so the implicit assumption would be that you phone them unless the online facility allows such cancellation - if today's person gave 'very conflicting information' about what's specified in their terms then you can refer them to this:

You can request in advance that we cash in your Premium Bonds after the next draw. If so, you’ll be able to change or cancel your request until the day before the last two working days of the month.

Otherwise you cannot stop or change an instruction to cash in.

Edit: only just noticed the clunky wording about "the day before the last two working days of the month" - wonder if this means the third-last working day, or if the month ends on a Tuesday do they allow cancellation on the Sunday....?