mrdc
Member of DD Central
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Post by mrdc on Jun 5, 2020 13:58:05 GMT
I opened an NS&I account in late May and put some money into Income bonds, paying by Debit card (instant transfer imo). All operations done online.
Two observations -some of the credits are still shown as Pending, at least a week after the payment (other identical payments have cleared, albeit very slowly) -June interest appears to have been paid only on cleared money, not the week-old Pending transactions (despite me being told the opposite a week ago when I queried the delay in funds clearing)
Anybody else have experience with NS&I Income bonds? I'm regretting opening the account.
For god sake don't ever get your login details wrong. I did two weeks ago trying to open an income bond account. The process to reset it is via snail mail.You can't do it online or over the phone.Luckily i was trying to pay in not take out.
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cb25
Posts: 3,528 
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Post by cb25 on Jun 5, 2020 14:45:52 GMT
I opened an NS&I account in late May and put some money into Income bonds, paying by Debit card (instant transfer imo). All operations done online.
Two observations -some of the credits are still shown as Pending, at least a week after the payment (other identical payments have cleared, albeit very slowly) -June interest appears to have been paid only on cleared money, not the week-old Pending transactions (despite me being told the opposite a week ago when I queried the delay in funds clearing) Anybody else have experience with NS&I Income bonds? I'm regretting opening the account.
Oddly yes, I opened one last week some time and the DC payment was made, last time I looked that was still pending. I did wonder (not having bothered to read anything much) if it would start today, the 5th apparently being pay day. Going to look now.... OK so it is still happily pending from a start date of 30th May. Rang the phone number, 'only hold if you are in dire financial need', not sure I could count it as that. Still it is 100% safe now. Did actually read a bit this time, found this confusing little masterpiece... Why has my balance not updated?
Your balance may not update straight away. Don't worry if this happens - you can still see your deposit by logging in, clicking on 'View account' then scrolling down to 'Pending transactions' and clicking the plus sign.
Your money will earn interest from the day you make your deposit.
If you invest on or after the 20th of any month, we may not be able to make the first interest payment on the 5th of the following month. But don't worry, you'll receive it the month after that.I stayed on the line when I heard that, then - thinking they might take exception to my call - explained to the operative (something like) "you might not view this as an emergency, but it's a significant amount of money to me and it worries me that I have done something wrong as the money isn't showing the status I expect". They said "yes, it would worry me as well", so all was good with the call.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jun 5, 2020 14:57:23 GMT
I opened an NS&I account in late May and put some money into Income bonds, paying by Debit card (instant transfer imo). All operations done online.
Two observations -some of the credits are still shown as Pending, at least a week after the payment (other identical payments have cleared, albeit very slowly) -June interest appears to have been paid only on cleared money, not the week-old Pending transactions (despite me being told the opposite a week ago when I queried the delay in funds clearing)
Anybody else have experience with NS&I Income bonds? I'm regretting opening the account.
Yes, absolutely. I opened an Income bond last Friday by debit card. It appeared as "pending" on Monday, but only landed in my account today. It is dated 29/05/20, so I would expect to get interest from then, but following your experience, now I'm not so sure. The other issue is how on earth did you manage to lodge a query. I've tried so many times this week, but there was either a 30 minute wait on the phone, or the online chat was either busy or kept chucking me out. A shocking initial customer service experience. 
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Post by erniec on Jun 5, 2020 14:59:53 GMT
I had exactly the same issues and various ‘explanations’.
I, as a existing Premium Bond customer, opened an Income Bond by debit card on 23 May - it eventually came out of pending on 4 June.
On the contrary, a bank transfer was active on the account the next day.
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Jun 5, 2020 15:06:14 GMT
I opened an NS&I account in late May and put some money into Income bonds, paying by Debit card (instant transfer imo). All operations done online.
Two observations -some of the credits are still shown as Pending, at least a week after the payment (other identical payments have cleared, albeit very slowly) -June interest appears to have been paid only on cleared money, not the week-old Pending transactions (despite me being told the opposite a week ago when I queried the delay in funds clearing)
Anybody else have experience with NS&I Income bonds? I'm regretting opening the account.
Yes, absolutely. I opened an Income bond last Friday by debit card. It appeared as "pending" on Monday, but only landed in my account today. It is dated 29/05/20, so I would expect to get interest from then, but following your experience, now I'm not so sure. The other issue is how on earth did you manage to lodge a query. I've tried so many times this week, but there was either a 30 minute wait on the phone, or the online chat was either busy or kept chucking me out. A shocking initial customer service experience. When I was logged in, there was only one support phone number shown so I rang it. Ten minutes later it was answered, I explained my problem but was told that number was for Premium Bonds only. I apologized, but said it was the only number listed. They were good enough to put me through (took about another 1-2 minutes). That service was OK, just found the explanation ("it's for security") to be complete b.s., doubly so as erniec says bank transfers work faster than debit card which strikes me as completely back-to-front.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jun 5, 2020 15:56:15 GMT
6 virgin payed out as well  Could you share the technique for getting 6 of them? Just apply using the virgin website, 1 at a time.
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Post by df on Jun 5, 2020 19:45:07 GMT
Could you share the technique for getting 6 of them? Just apply using the virgin website, 1 at a time. Thank you. I'll try for more accounts. The whole Virgin/Clydesdale/Yorkshire merger thing seems to be in some sort of mess. I've applied on line for joint account this week and it's been very difficult. We've been phoning them 3 times, received 3 letters with authorisation codes and few e-mails.... When I went through the "I already have an account" route - the system didn't recognise me, when I tried "I'm a new customer" I got the message saying that my details sound familiar - give us a call. Apparently the problem was system's confusion with different banks (although they've merged, they are still different banks). Definitely didn't work on-line, but hopefully after re-doing application on phone I'll eventually get a third account. If that works I'll proceed with more applications.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Likes: 617
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Post by dave4 on Jun 5, 2020 20:10:16 GMT
Just apply using the virgin website, 1 at a time. Thank you. I'll try for more accounts. The whole Virgin/Clydesdale/Yorkshire merger thing seems to be in some sort of mess. I've applied on line for joint account this week and it's been very difficult. We've been phoning them 3 times, received 3 letters with authorisation codes and few e-mails.... When I went through the "I already have an account" route - the system didn't recognise me, when I tried "I'm a new customer" I got the message saying that my details sound familiar - give us a call. Apparently the problem was system's confusion with different banks (although they've merged, they are still different banks). Definitely didn't work on-line, but hopefully after re-doing application on phone I'll eventually get a third account. If that works I'll proceed with more applications. virgin online tends to go "details sound familiar," then click on the the yes familar, redirects you to ur details, check and amend if required, then sometimes "we will need a human to check, let you know 2 days, then e mail or phone reply "welcome please follow link to carry on application. click, accept, tick yes box. da daaa.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 10, 2020 8:34:24 GMT
Marcus instant access account also closed to new applicants. Cynergy also.
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aju
Member of DD Central
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Post by aju on Jun 10, 2020 11:24:47 GMT
Marcus instant access account also closed to new applicants. Cynergy also. Yeah apparently they reached their 21M ceiling and were they to lend anymore they would need wholly different procedures. At least Mrs Aju is a with them and as she's our non tax paying investor we are ok for new products if there are any in the near future. Mind you when her account drops to 1.05 we may be moving funds elsewhere fortunatley she has 1.2% until End of August!.
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Post by oppsididitagain on Jun 10, 2020 13:11:28 GMT
Marcus instant access account also closed to new applicants. Cynergy also. Yeah apparently they reached their 21M ceiling and were they to lend anymore they would need wholly different procedures. At least Mrs Aju is a with them and as she's our non tax paying investor we are ok for new products if there are any in the near future. Mind you when her account drops to 1.05 we may be moving funds elsewhere fortunatley she has 1.2% until End of August!. HL.co.uk are trying to promote their active savings product. If you invest 5K they will give you a £25 bonus. The best instant account is 0.55% or 6months fixed is 0.65% but with the £25 bonus, you will getting nearer 1% over the year if you invest 5K Read the T&C's to get the bonus
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ceejay
Posts: 975
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Post by ceejay on Jun 10, 2020 13:25:04 GMT
Yeah apparently they reached their 21M ceiling and were they to lend anymore they would need wholly different procedures. At least Mrs Aju is a with them and as she's our non tax paying investor we are ok for new products if there are any in the near future. Mind you when her account drops to 1.05 we may be moving funds elsewhere fortunatley she has 1.2% until End of August!. HL.co.uk are trying to promote their active savings product. If you invest 5K they will give you a £25 bonus. The best instant account is 0.55% or 6months fixed is 0.65% but with the £25 bonus, you will getting nearer 1% over the year if you invest 5K Read the T&C's to get the bonus Funny you should mention that - I have just this morning emptied out my HL Active Savings, having passed the minimum 6 months invested period to avoid having my £25 clawed back. It's a shame, it's a nice idea - being able to move money between products from different providers without having to prat around proving who you are every time. But when the best available instant rate (actually, the only available instant rate right now) is 0.55%, I'm not hanging around. This cash is off to NS&I - PBs and Direct Savings (1%, no £85k FSCS limit). I wonder how much longer NS&I will hold their rates up for? They were due to be cut but the change was deferred due to you-know-what.
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r00lish67
Member of DD Central
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Post by r00lish67 on Jun 10, 2020 13:28:00 GMT
Marcus instant access account also closed to new applicants. Cynergy also. Yeah apparently they reached their 21M ceiling and were they to lend anymore they would need wholly different procedures. At least Mrs Aju is a with them and as she's our non tax paying investor we are ok for new products if there are any in the near future. Mind you when her account drops to 1.05 we may be moving funds elsewhere fortunatley she has 1.2% until End of August!. It's actually £21 billion they've reached (I thought £21m sounded a bit low!). Puts it into perspective doesn't it? The worth of FSCS. Comfortably 25x the likes of Ratesetter in deposits and has only been operational a fraction of the time. edit: X'd with cb25
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cb25
Posts: 3,528
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Post by cb25 on Jun 10, 2020 13:30:01 GMT
Yeah apparently they reached their 21M ceiling and were they to lend anymore they would need wholly different procedures. At least Mrs Aju is a with them and as she's our non tax paying investor we are ok for new products if there are any in the near future. Mind you when her account drops to 1.05 we may be moving funds elsewhere fortunatley she has 1.2% until End of August!. It's actually £21 billion they've reached (I thought £21m sounded a bit low!). Puts it into perspective doesn't it? The worth of FSCS. Comfortably 25x the likes of Ratesetter in deposits and has only been operational a fraction of the time. Article in The Times today saying it was because they were approach the £25bn limit which calls for ring-fencing (which Goldman Sachs don't want to do at this time). r00lish67 I missed the typo by aju and originally copied the "m(illion)" onto the ring-fencing limit (duh!), hence my corrected re-posting. Fits with this FCA piece: "Ring-fencing rules only apply to UK banks with a 3-year average of more than £25bn 'core deposits' (broadly from individuals and small to medium-sized businesses). It is these large banks that must 'ring-fence' or legally separate their essential banking services from the rest of their banking group"
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Post by oppsididitagain on Jun 10, 2020 13:38:17 GMT
Goldmans have effectively raised a lot of cash on the cheap.
Stock markets have soared since then... I wonder where they put that cash :-).
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