Transferring savings from Premium Bonds to Growth Bonds today.

dillie

I decided to transfer the majority of my Premium Bonds to a NS&I one year growth bond this morning via my NS&I online account- after reading Martin’s news about their competitive rates of interest. Very surprised that two hours later there’s no confirmation of any sort from NS&I about this transfer, so I phoned to check it had gone through. But neither the Premium Bond dept or the General queries dept had any means of checking after I’d gone through very thorough ID checks. And they have no idea apparently when I will get some sort of confirmation. So what’s happening to my money since I applied to change it from Premium Bonds to a one year Growth Bond?! Do they remain in the monthly draw until NS&I get around to actioning this mornings shift or are they now cancelled?

Anybody else experienced this with NS&I ??!!

Mistermeaner

2 hours dude. Check back tomorrow

Stubod

..why "the majority" and not all??? ..just asking as the fewer you have, the even smaller chance you have of getting anything. If you don't like PB's, I would transfer the lot.

NB We are doing similar with ours after 3 years of rather poor performance, (for us)….

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/82098704#Comment_82098704

We would do the same but we like the tax free bit of PBs which saves us around £2000 in income tax