Premium bonds bank transfer mistake

borderline

Yesterday I did a bank transfer to buy more bonds. Money left my bank account but nothing arrived to my bonds account.

I called Ns&I and they asked me if I had entered the reference (my account) number.. I didn't !! although they said the money should go back to my account, I'm just panicking in case it doesn't

Has anyone made this mistake of not adding the ref number ?? how long it took for the money to be returned ?😓

Kim_13

I expect the money wouldn't have reached the account until tomorrow even with the reference, as most institutions only recognise bank transfers on working days. I wouldn't be surprised if it took most of the week to find its way back.

I always paid by debit card - as the bonds effectively earn nothing for a month, there's nothing to be gained by getting the payment to clear as quickly as possible and it avoids this kind of mistake. New bond numbers are available to download as soon as the card payment has been confirmed. As it's now March, your new bonds won't be entered until May so you should wait until the end of the month to make the purchase rather than redoing it as soon as the money comes back.

borderline

https://forums.moneysavingexpert.com/discussion/comment/81905418#Comment_81905418

I always used the debit card before, this time a bank transfer because it was a larger amount. Big Mistake !!😫

I just hope nothing weird happens and the money gets lost

marcia_

i made a transfer to pay bill for my next account and didn't give my account number. The Money ended up in a holding account with them, they traced it via me giving my account details and the money was transferred to pay off my bill

borderline

Good news, the money has already been reversed and back to my bank account. 🤗

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/81906324#Comment_81906324

Good to hear.

In years gone by banks and equivalents used to have suspense accounts where funds received with no obvious home are held. In theory they they tried to work out what the money was for and allocate it appropriately but the reality was most of it just sat there for a fairly long time (think the distant relative sending a birthday present by bank transfer but doesn't know you switched account - you arent expecting it so dont know its missing and they just assume you got it and havent thanked you).

For whatever reason organisations these days are more likely to simply bounce the money back to its point of origin than sit on it. I know I did something similar with a not insubstantial sum and realised it was to the wrong details. A long and nervous wait to talk to them by which point they said to check by account and could see it had already come back to me.

Freeheeler

I tried phoning NS&I today to see what's happened to money I transferred to a recently opened account using telephone banking. I could not get through to a real person - the AI was so awful that I was laughing too much to think of how to rephrase my question.

So, what number are you using to get through to a real person at NS&I? I used 08085 007 007.

Having said that, I did speak to a real person at my own bank who could not explain what had happened either.

I did then try the NS&I online chatbot and I think the money has been returned to my bank account because of an incorrect reference. Money I put in the following day using my debit card appeared quickly and I have learnt from this thread that is the best way to do it.

borderline

https://forums.moneysavingexpert.com/discussion/comment/81911055#Comment_81911055

yes that's the number I called.. I can't remember what I said , I'm guessing I said problem with bank transfer , I might have said I want to speak to a person after.

so yeah, if you put an incorrect reference like me, it should bounce back to your bank ..

Swipe

When you phone them just keep repeating "I want to speak to a human"