📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

NS&I Guaranteed Growth Bonds

2

Comments

  • janusdesign
    janusdesign Posts: 1,043 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    ToastLady said:
    I have 3 too, over different dates this month. I'll be taking all 3 out and have opened a 1 yr FS at 4.5% with Vanquis, still to be funded, but have 30 days.
    i'm in a similar position, 3 maturing at the end of the month and one more a week later... annoyingly, they auto-renew to a new bond by default. 

    in the maturity options, if you choose to Cash In, it would generate a security phone call from them...
    We need to make a security call to you. Please select the number we should contact you on.
    If our first call is unsuccessful, we'll try twice more.
    If we can't reach you after three attempts, your online and phone access will become suspended. If this happens, don't worry, we'll explain what to do next.
    When you click Continue, we'll call you straight away.
    but as you can only do one bond maturity at a time, that's going to be upto 4 separate calls from them.

    I was advised by one of their agents that it would be simpler to call or write to them - I thought opening a Direct Saver might be a way around, but you can only renew to another bond or cash-in (or a mixture of the two)... a phone call next week it is then.  :(
  • ColdIron
    ColdIron Posts: 9,914 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    I thought opening a Direct Saver might be a way around, but you can only renew to another bond or cash-in (or a mixture of the two)... a phone call next week it is then.  :(
    If you have a Direct Saver you can change your nominated account to it. Select the account and then click the Change Details button and change to it instead of your non-NS&I account. I've done this several times in the past
  • janusdesign
    janusdesign Posts: 1,043 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 9 August at 4:59PM
    ColdIron said:
    I thought opening a Direct Saver might be a way around, but you can only renew to another bond or cash-in (or a mixture of the two)... a phone call next week it is then.  :(
    If you have a Direct Saver you can change your nominated account to it. Select the account and then click the Change Details button and change to it instead of your non-NS&I account. I've done this several times in the past
    interestingly, I opened a Direct Saver today but never thought about changing the nominated account on the bonds to it - thanks for the info.  :)
    does this bypass the need for the security call ? if I subsequently made a large withdrawal (e.g £20k) from the Direct Saver to its nominated account, does that generate a call or would it go through without issue ?
  • ColdIron
    ColdIron Posts: 9,914 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    edited 9 August at 5:07PM
    I've made quite a few withdrawals from it in the past (going back to 2012) and I can't remember ever needing to do that but can't be certain. I definitely didn't have to do it to set the cash in maturity instruction a week or so ago for one of my GGBs
    I wouldn't beat myself up about receiving a phone call.
  • Nova1307
    Nova1307 Posts: 102 Forumite
    Third Anniversary 10 Posts Name Dropper
    edited 9 August at 5:07PM
    My NS&I Direct Saver account is showing as my nominated account for my three GGBs which are due to mature early next month. I'm actually going to be outside Europe when they mature and so does that mean I won't need to get a security phone call? Will be replacing my UK sim card with a temporary one while I'm gone. 

    I can't see anything that suggests they are set to renew into new GGBs and so I assume I will be able to choose to transfer the funds to my Direct Saver account by logging in a week or two before maturity?

    Thanks
  • ColdIron
    ColdIron Posts: 9,914 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    edited 9 August at 5:12PM
    Nova1307 said:
    I can't see anything that suggests they are set to renew into new GGBs and so I assume I will be able to choose to transfer the funds to my Direct Saver account by logging in a week or two before maturity?
    The default option is to renew if you do nothing. I was able to set my maturity instruction for one of mine ending 31/08 on, I think, 31/07
  • Nova1307
    Nova1307 Posts: 102 Forumite
    Third Anniversary 10 Posts Name Dropper
    edited 9 August at 5:27PM
    ColdIron said:
    Nova1307 said:
    I can't see anything that suggests they are set to renew into new GGBs and so I assume I will be able to choose to transfer the funds to my Direct Saver account by logging in a week or two before maturity?
    The default option is to renew if you do nothing. I was able to set my maturity instruction for one of mine ending 31/08 on, I think, 31/07

    OK thanks. So as long as I log in 30 days before maturity and select the option to transfer to my nominated account I won't receive any calls?

    Actually, I just remembered that I sometimes receive security codes via SMS to log in and so I might need to stick my UK sim card back in anyway. 
  • ColdIron
    ColdIron Posts: 9,914 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    Nova1307 said:
    ColdIron said:
    Nova1307 said:
    I can't see anything that suggests they are set to renew into new GGBs and so I assume I will be able to choose to transfer the funds to my Direct Saver account by logging in a week or two before maturity?
    The default option is to renew if you do nothing. I was able to set my maturity instruction for one of mine ending 31/08 on, I think, 31/07

    OK thanks. So as long as I log in 30 days before maturity and select the option to transfer to my nominated account I won't receive any calls?
    I can't promise anything but I didn't last week and don't recall it happening in the past. I actually set it up to cash in and then a day later changed it to roll over to secure the rate. I expect to set maturity on my second one early next week to roll over and will revert to cash in on the first
  • Nova1307
    Nova1307 Posts: 102 Forumite
    Third Anniversary 10 Posts Name Dropper
    edited 9 August at 5:33PM
    Thanks - the 4.18% is annoyingly light compared to the 4.5% that is available elsewhere. If they were offering 4.38% I'd just grab it and let it renew. 
  • sausage_time
    sausage_time Posts: 1,543 Ambassador
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    I just opted to cash in my bond when it matures next month and send to my exiting nominated external account.  There was no phone call or 2FA.
    I’m a Forum Ambassador and I support the Forum Team on the Credit CardsSavings & investments, and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.5K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.5K Work, Benefits & Business
  • 599.7K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.