NS&I Guaranteed Growth Bonds

Hattie627

sausage_time said:

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.

There are two security questions to answer after entering NSI customer number and password (eg father's birthday as mm/yy). Have used this procedure this week for giving instructions for cashing in GGB's of around £3300 to my pre-set nominated account. Same procedure as withdrawing from a Direct Saver to NA which I regularly do for £1500. No phone calls or texts with codes. Possibly calls/texts required for higher amounts or for changing NA.

Kim_13

sausage_time said:

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 did the same and was asked security questions to confirm. Have those prompted for 2FA not set up questions perhaps?

janusd

sausage_time said:

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.

as has been previously suggested, perhaps it's based on the balance of the bonds - all of mine are over £10k, so perhaps that is triggering extra security.

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?

3 of mine mature on 30th August - apparently, I have until 3pm on the 28th August to change the maturity option.

Your investment will automatically renew into our 1-year Guaranteed Growth Bond, unless you select a different option below. You can change your option(s) at any time up to 3pm on 28/08/2025.

ColdIron said:

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.

receiving one is not an issue - having to receive 4 calls separately in a row would be a bit annoying. 

Kim_13 said:

sausage_time said:

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 did the same and was asked security questions to confirm. Have those prompted for 2FA not set up questions perhaps?

to be honest, I can't remember - but the irony of all ironies is that if I try to change the security questions online, it generates the "Confirm your phone number" message again... perhaps it is just 2FA rather than actual phone calls from a human - but not something to consider trying at 1am. 

sausage_time

janusdesign said:

sausage_time said:

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.

as has been previously suggested, perhaps it's based on the balance of the bonds - all of mine are over £10k, so perhaps that is triggering extra security.

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?

3 of mine mature on 30th August - apparently, I have until 3pm on the 28th August to change the maturity option.

Your investment will automatically renew into our 1-year Guaranteed Growth Bond, unless you select a different option below. You can change your option(s) at any time up to 3pm on 28/08/2025.

ColdIron said:

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.

receiving one is not an issue - having to receive 4 calls separately in a row would be a bit annoying. 

Kim_13 said:

sausage_time said:

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 did the same and was asked security questions to confirm. Have those prompted for 2FA not set up questions perhaps?

to be honest, I can't remember - but the irony of all ironies is that if I try to change the security questions online, it generates the "Confirm your phone number" message again... perhaps it is just 2FA rather than actual phone calls from a human - but not something to consider trying at 1am. 

My 2FA-less transaction was significantly more than £10k.  So there must me more to it than just the balance.

refluxer

Just logged in to set my GGB to pay out to my nominated account and needed to be able to receive an automated phone call in order to enter an on-screen security code to confirm the request. Luckily, I was logged in on a PC and able to receive the call via mobile (with speakerphone on) which made this an easy process. 

For anyone logging in via mobile, it might be better to receive the call via a landline number (if you still have one) if you end up in the same situation, to avoid needing to switch between screens which may be fiddly on a mobile.

While the rates aren't competitive at the moment, I'll definitely be keeping an eye on competing fixed rates up until the deadline for changing your mind, in case that situation changes.

janusd

sausage_time said:

janusdesign said:

sausage_time said:

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.

as has been previously suggested, perhaps it's based on the balance of the bonds - all of mine are over £10k, so perhaps that is triggering extra security.

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?

3 of mine mature on 30th August - apparently, I have until 3pm on the 28th August to change the maturity option.

Your investment will automatically renew into our 1-year Guaranteed Growth Bond, unless you select a different option below. You can change your option(s) at any time up to 3pm on 28/08/2025.

ColdIron said:

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.

receiving one is not an issue - having to receive 4 calls separately in a row would be a bit annoying. 

Kim_13 said:

sausage_time said:

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 did the same and was asked security questions to confirm. Have those prompted for 2FA not set up questions perhaps?

to be honest, I can't remember - but the irony of all ironies is that if I try to change the security questions online, it generates the "Confirm your phone number" message again... perhaps it is just 2FA rather than actual phone calls from a human - but not something to consider trying at 1am. 

My 2FA-less transaction was significantly more than £10k.  So there must me more to it than just the balance.

all done - it was just 2FA with no human contact... they did call immediately from submitting, but it was an automated message... confirm you were expecting the call and then enter the 6 digit number shown on screen... repeat the process for the three other bonds and that's it... instructions received.