NS&I Guaranteed Income Bond

molerat

Doctor_Who said:

poppystar said:

Doctor_Who said:

molerat said:

Purchased 2.  Both times asked to set up nominated account, the same account as nominated for my PB payments and other NS&I accounts including the first GIB.  Usual NS&I rubbish

I found this odd when I opened my second GGB a couple of days ago. No option to choose the nominated account NS&I already hold for the first GGB or PBs.

Very odd as they gave me the option of choosing the one I use for PB etc or selecting another NS&I account. As I am keeping this money separate I chose the NS&I account. I’m now a little worried that they’ll apply that to my PBs and previous GIB and IBs as well!

If you login to your NS&I account you can see your nominated account(s) for PBs and GGB/GIBs, so you can check they are as you want them.

The account was there for PBs and ILCs but the option to use it was not offered for either new bond.

poppystar

Doctor_Who said:

poppystar said:

Doctor_Who said:

molerat said:

Purchased 2.  Both times asked to set up nominated account, the same account as nominated for my PB payments and other NS&I accounts including the first GIB.  Usual NS&I rubbish

I found this odd when I opened my second GGB a couple of days ago. No option to choose the nominated account NS&I already hold for the first GGB or PBs.

Very odd as they gave me the option of choosing the one I use for PB etc or selecting another NS&I account. As I am keeping this money separate I chose the NS&I account. I’m now a little worried that they’ll apply that to my PBs and previous GIB and IBs as well!

If you login to your NS&I account you can see your nominated account(s) for PBs and GGB/GIBs, so you can check they are as you want them.

Thank you! Found it now. I’d never gone further into each account before, just looked at the top levels with amounts and account numbers.

auser99

randomhedgehog said:

Anyone had problems making payments to NS&I with their debit card to invest? I keep getting card declined and my bank says its not them (payment not blocked) and NS&I say its the bank

Could be a few things, but I had a relative get this.

She has nothing set up online bank wise, so all it was, is that her bank had either a " log into the app and approve" or "send a 1 time passcode" as the 2 options to finalise it post entering the card details.

Option 1 a non starter, and Option 2 she just didn't have anywhere set up to send the 1 time code!
Went to the bank, set a mobile number up, and it should work by Monday - so hopefully the bonds are still available by then!

Megabusymumof3

Opened my husbands bonds no problem, tried for me - what a nightmare! Got so far through and and a message popped up about already being registered with them but my password wasn't currently valid and that I should call them to continue the application, I did have premium bonds but they were cashed in 20 years ago!! Two hours later and after speaking to 2 people, both really hopeless if I'm honest,  I was then advised they can't get it to work either and did I want a paper application and I could send a cheque. I've given up now and put it with Ahli Bank through Raisin.

me881

randomhedgehog said:

Anyone had problems making payments to NS&I with their debit card to invest? I keep getting card declined and my bank says its not them (payment not blocked) and NS&I say its the bank

I had exactly this problem yesterday when trying to open a bond. The bank told me it was NS&I and to call them who subsequently told me it wasn’t them it was the bank.  I eventually established on the second call to the bank that Mastercard have a 50k limit per day on your card and was the reason for the decline. Instead I purchased two bonds at less than the daily limit without any problem. 

Shylock

My relative, for whom I have POA already registered with NS&I, wishes to transfer a large sum from a Halifax Savings account which does not provide a Debit Card to NS&I's Guaranteed Income Bond.  The amount they wish to transfer is also above the daily £25k(?) limit that Halifax impose on online transfers.
Am I right in thinking that the only way of achieveing this would be to filter the money through a Current Account, for which we have a Debit Card, and that as we're buying a Bond we'd have to buy several over several days to keep within the Halifax limit ie..  we can't "add" to the same NS&I BondAccount over several days.
Strange that NS&I don't accept Transfers for this Bond.  Would make it a little easier.

ColdIron

Shylock said:

Am I right in thinking that the only way of achieveing this would be to filter the money through a Current Account, for which we have a Debit Card, and that as we're buying a Bond we'd have to buy several over several days to keep within the Halifax limit ie..  we can't "add" to the same NS&I BondAccount over several days.

It's probably the most straightforward way to do it. You're right that you can't add to a bond but having more than one is no real hardship. You will just have staggered maturity dates

Strange that NS&I don't accept Transfers for this Bond.  Would make it a little easier.

NS&I do accept bank transfers or even Pay by bank account (open banking) just not for this bond

If she has, or could open, a Direct Saver, she could pay into that and transfer in one go but you would be subject to the same daily restrictions imposed by your bank. With no guarantees on how long this bond or rate will be available I would open more than one bond

DavidAC

Looking ahead what are the timescales for withdrawal at maturity. Is it BACS to a linked account that goes nowhere on a weekend or faster payments.

PloughmansLunch

DavidAC said:

Looking ahead what are the timescales for withdrawal at maturity. Is it BACS to a linked account that goes nowhere on a weekend or faster payments.

My income bond pays usual timescale BACS into a current account

Shylock

ColdIron said:

Shylock said:

Am I right in thinking that the only way of achieveing this would be to filter the money through a Current Account, for which we have a Debit Card, and that as we're buying a Bond we'd have to buy several over several days to keep within the Halifax limit ie..  we can't "add" to the same NS&I BondAccount over several days.

It's probably the most straightforward way to do it. You're right that you can't add to a bond but having more than one is no real hardship. You will just have staggered maturity dates

Strange that NS&I don't accept Transfers for this Bond.  Would make it a little easier.

NS&I do accept bank transfers or even Pay by bank account (open banking) just not for this bond

If she has, or could open, a Direct Saver, she could pay into that and transfer in one go but you would be subject to the same daily restrictions imposed by your bank. With no guarantees on how long this bond or rate will be available I would open more than one bond

Thanks for response.