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  • FIRST POST
    • MSE Naomi
    • By MSE Naomi 2nd Nov 18, 5:05 PM
    • 150Posts
    • 31Thanks
    MSE Naomi
    Delays to NS&I payments after technical glitch - MSE News
    • #1
    • 2nd Nov 18, 5:05 PM
    Delays to NS&I payments after technical glitch - MSE News 2nd Nov 18 at 5:05 PM
    Thousands of NS&I customers are facing delays after trying to withdraw money from their accounts this week...
    Read the full story:
    'Delays to NS&I payments after technical glitch'

    Click reply below to discuss. If you havenít already, join the forum to reply.
Page 1
    • polymaff
    • By polymaff 2nd Nov 18, 7:42 PM
    • 2,510 Posts
    • 1,121 Thanks
    polymaff
    • #2
    • 2nd Nov 18, 7:42 PM
    • #2
    • 2nd Nov 18, 7:42 PM
    What a shambles NS&I are:

    Can't calculate interest correctly

    Don't understand the law.

    Report the wrong data to HMRC

    Even though they admit the reported data is wrong, they refuse to resubmit to HMRC.

    - and there are GDPR ramifications to the above.

    and now this.

    Time that their bosses - HMT - sorted this unfit-for-purpose shambles out.
    • Twopints
    • By Twopints 2nd Nov 18, 7:56 PM
    • 1,593 Posts
    • 2,457 Thanks
    Twopints
    • #3
    • 2nd Nov 18, 7:56 PM
    • #3
    • 2nd Nov 18, 7:56 PM
    Maybe NS&I should be privatised, like they did with the Trustee Savings Bank. Wonder how that one panned out....

    Not even wrong
    • badger09
    • By badger09 3rd Nov 18, 11:00 AM
    • 6,662 Posts
    • 6,177 Thanks
    badger09
    • #4
    • 3rd Nov 18, 11:00 AM
    • #4
    • 3rd Nov 18, 11:00 AM
    What a shambles NS&I are:

    Can't calculate interest correctly

    Don't understand the law.

    Report the wrong data to HMRC

    Even though they admit the reported data is wrong, they refuse to resubmit to HMRC.

    - and there are GDPR ramifications to the above.

    and now this.

    Time that their bosses - HMT - sorted this unfit-for-purpose shambles out.
    Originally posted by polymaff
    In the case of my late sister and myself, NS&I didn't report any data to HMRC, despite both of us having more than one reportable source with them
    • Thrugelmir
    • By Thrugelmir 3rd Nov 18, 11:10 AM
    • 62,140 Posts
    • 55,307 Thanks
    Thrugelmir
    • #5
    • 3rd Nov 18, 11:10 AM
    • #5
    • 3rd Nov 18, 11:10 AM
    Reliance on technology. Let's hope there's never a power cut. The country will be in a meltdown.
    "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." - Peter Lynch
    • polymaff
    • By polymaff 3rd Nov 18, 11:42 AM
    • 2,510 Posts
    • 1,121 Thanks
    polymaff
    • #6
    • 3rd Nov 18, 11:42 AM
    • #6
    • 3rd Nov 18, 11:42 AM
    What a shambles NS&I are:

    Can't calculate interest correctly

    Don't understand the law.

    Report the wrong data to HMRC

    Even though they admit the reported data is wrong, they refuse to resubmit to HMRC.

    - and there are GDPR ramifications to the above.

    and now this.

    Time that their bosses - HMT - sorted this unfit-for-purpose shambles out.
    Originally posted by polymaff
    In the case of my late sister and myself, NS&I didn't report any data to HMRC, despite both of us having more than one reportable source with them
    Originally posted by badger09
    Reliance on technology. Let's hope there's never a power cut. The country will be in a meltdown.
    Originally posted by Thrugelmir
    Nothing - in the case I have in mind - to do with technology but "Don't understand the law." What was pretty obvious, and what NS&I vehemently denied was that they didn't understand that the relevant date with regards to payment of interest is not when NS&I calculate the interest but the date that the interest is due*. I pushed HMT to force NS&I to admit their error and correct it. As a result NS&I have admitted their error - but they're still sticking to their position that they are not going to notify HMRC of the correct figures - or change their procedures.

    Unfit for purpose is a pretty mild description of NS&I.

    * in this particular case, interest calculated 5th April, due - and paid - 7th April
    Last edited by polymaff; 03-11-2018 at 11:45 AM.
    • Wizard of Id
    • By Wizard of Id 5th Nov 18, 6:53 PM
    • 5,493 Posts
    • 18,388 Thanks
    Wizard of Id
    • #7
    • 5th Nov 18, 6:53 PM
    • #7
    • 5th Nov 18, 6:53 PM
    No delay for my transfer, got to my bank today as expected.
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