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NS&I Reviews

Ratings based on 48 reviews Last review 5 months ago
3.31 / 5Good overall rating

NS&I are guided by guided by the values that matter to customers: security, integrity, straightforwardness, delivered with a human touch, pace and confidence. Smart Money People is the place for NS&I reviews. Read and write reviews to help increase...

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NS&I are guided by guided by the values that matter to customers: security, integrity, straightforwardness, delivered with a human touch, pace and confidence. Smart Money People is the place for NS&I reviews. Read and write reviews to help increase trust and transparency in Financial Services.

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Your NS&I Reviews (48)

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26th January 2019

Good Luck trying to get your money back out AVOID!!!!

It is now Jan 2019 and a request to cash out was sent to NS&I in Oct 2018. We are still no nearer receiving the funds than when we started. They simply do not want to relinquish the funds held and will find ANY excuse not to pay up. They WILL NOT...

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It is now Jan 2019 and a request to cash out was sent to NS&I in Oct 2018. We are still no nearer receiving the funds than when we started. They simply do not want to relinquish the funds held and will find ANY excuse not to pay up. They WILL NOT accept correspondence electronically and insist on each correspondence being by snail mail. Some of these letters have taken 39 days to be received.
Wrong and conflicting processes and forms advised.
Claims that they do not have our signatures on record
Request for confirmation of address (sent to the same address)
Request for Date of birth
The list is endless. I am just about to write back to them with my shoe size just in case they need that too.
My advice is NEVER give your money to these people. If you have already given them money then start NOW to get it back. They will use every avenue available to NOT REPAY you.
For a government sponsored saving scheme this is absolutely disgraceful and should be subject of a Royal Commission.

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14th May 2018

My advice is.

Unless you as holder has got above the odds 24500 premium bonds is not worth buying. As is disappointing when not winning a prize each month. So my advice is putting 40000 or above in. As 1 month you win nothing because the account has to mature. Is...

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Unless you as holder has got above the odds 24500 premium bonds is not worth buying. As is disappointing when not winning a prize each month. So my advice is putting 40000 or above in. As 1 month you win nothing because the account has to mature. Is a matter off beating the odds to win the prize.

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9th April 2018

Old-fashioned savings...

I have held Premium Bonds for about 3 years now. Naturally, the winning is a bit hit and miss. Not an account for those who need their money to earn interest. However, I like the fun of getting a "prize". The odds of winning were reduced last...

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I have held Premium Bonds for about 3 years now. Naturally, the winning is a bit hit and miss. Not an account for those who need their money to earn interest. However, I like the fun of getting a "prize". The odds of winning were reduced last year, but have now improved again.

I have recently gone online (I used to receive cheques in the post). The procedure was straightforward and not too time consuming, whilst still providing a secure system.

A fun way to save, but not for everybody.

Thank you

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3rd February 2018

for the wealthy

i was happy with premium bonds when £25.000 was highest amount you could hold.( Although i only have small amount of premium ...

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i was happy with premium bonds when £25.000 was highest amount you could hold.( Although i only have small amount of premium bonds.)
but now that it stands at £50,000 i and many more low priced bond holders have very little chance of winning. it is mainly people with very high holdings who seem to gain. its the rich getting richer I'm afraid.

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24th January 2018

Avoid

I have been attempting to withdraw (and now am looking to close completely) my premium bond account with NS&I....

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I have been attempting to withdraw (and now am looking to close completely) my premium bond account with NS&I.

It was set up many years ago, but I was able to make a deposit in February 2017 over the phone without any requirement to prove my identity.

Fast forward to October 2017. I filled in the necessary withdrawal form to take back some of this money and posted it back to them, but after several weeks without receipt of funds, I called NS&I for an update.

I was told that they had received the form, but that they had no proof of signature on file for me and so therefore I would need to complete a different form for this, before they could action the request. No attempt was made to notify me of this, so if I had not made the follow up call myself, I clearly would never have seen any movement on this front.

They could not explain why it was a different process to deposit money as it was to withdraw money, even when using the exact same bank account details, as I had managed to do with ease before.

Nonetheless, after a couple of weeks, this form arrived in the post, which required my signature and that of a witness who was not family and working in a profession (company director, or solicitor etc). After posting this completed form back to them and putting in a call to them a couple of weeks later, they said they had not received the form, so would post another one out to me.

A different and incorrect form arrived in the post yesterday from NS&I, so I am now going to have to call them up - yet again - to request they send the correct form to me this time and if they successfully manage to do so next time, I will have to bother someone again to fill out this document for a second time to witness signature etc and hope for the best.

This experience is unforgiveable and the need to rely on their acknowledging receipt of paperwork, only via standard post (recorded delivery is not guaranteed to work either apparently) means that not only is NS&I completely unfit for purpose, but it is also not a method for storing funds that can reliably be reclaimed in their own, already slow, stated time period.

For a Treasury backed institution, it is a disgrace and for someone in need of reclaiming their money within a reasonable timeframe, it is an experience that might cause great anxiety and financial difficulty.

Avoid NS&I at all costs and if you currently have a premium bond account with them, I would advise you to take heed of this all to common negative customer experience.

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13th December 2017

Worst set up for users

God forbid to make a mistake and get locked out! Prior Christmas I needed to withdraw some of my money for a big purchase. After failing security questions(which I'm pretty sure I have answered correctly) I was locked out and needed a temporary...

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God forbid to make a mistake and get locked out! Prior Christmas I needed to withdraw some of my money for a big purchase. After failing security questions(which I'm pretty sure I have answered correctly) I was locked out and needed a temporary password to reset my account. That's when I've learned that my password would be sent to me via post, which takes 5 working days, but before that they will send me some kind of form, also via post, which I need to fill and send it back to them, which will take min 2 weeks!!!! So to get my money I can expect no earlier than a month, if everything goes smoothly. Otherwise the process will repeat. Can not describe how "happy" it makes me, as I am loosing a chance to purchase what I wanted for my family for Christmas. Those people don't have any clue that email can be used for the same purposes to make it easy for their customers! But who wants an easy way??? Needless to say if I can get hold of my money again, I am closing my account and will try to forget it like a worst nightmare!

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2nd August 2017

Love them!!

I have only had premium bonds for two months and won £100 first month and £550 second month! Must have a lucky touch. I think these are a good investment when you have a large amount to invest but if it's just a few Hundred or a few Thousands might n...

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I have only had premium bonds for two months and won £100 first month and £550 second month! Must have a lucky touch. I think these are a good investment when you have a large amount to invest but if it's just a few Hundred or a few Thousands might not win to much. I love the thrill of opening them to see if you have won.

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4th July 2017

Easy saving and potentially great returns

The process of saving with NS&I is very easy, it can all be done online once registered. It is easy to check balances and see if there have been any winnings. Loading and withdrawal is easily completed using the online service but if help is required...

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The process of saving with NS&I is very easy, it can all be done online once registered. It is easy to check balances and see if there have been any winnings. Loading and withdrawal is easily completed using the online service but if help is required the customer service on the phone is friendly and efficient. No interest but the possibility of big winnings is a good draw.

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4th July 2017

Reliable and exciting - what more can you ask for?

Whenever I've contacted NS&I to update details, their customer service has been swift and efficient, and prizes are sent out quickly and automatically. Not only are your savings safe in their hands, but you have a chance of winning a financial prize -...

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Whenever I've contacted NS&I to update details, their customer service has been swift and efficient, and prizes are sent out quickly and automatically. Not only are your savings safe in their hands, but you have a chance of winning a financial prize - what more can you ask for?

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15th April 2017

Idiot customer service

I've had a bond for 3 years. I've called on several occasions to update my address etc but told they'd sent paperwork to me...at my old address?? Then I call again and explain again so I get told they've sent paperwork to me to fill out...at my old...

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I've had a bond for 3 years. I've called on several occasions to update my address etc but told they'd sent paperwork to me...at my old address?? Then I call again and explain again so I get told they've sent paperwork to me to fill out...at my old address?? (Clearly not clever customer service as I've moved and this the sole reason for my call). One time I called and was advised they'd updated my address so I asked to close the account, but this couldn't happen as I had 2 customer records now, one in my new address and one in my old. I was put through to the relevant department to merge my records (although never thought this merging was a customers responsibility) so spoke to someone else who asked for both my account numbers, one of which I didn't have as it was an error by whoever updated my address. After 10 minutes of them searching I was advised I'd be receiving contact from them after the merge, then I call back to close the account. 3weeks pass and not heard anything so call again, have to again update my address which has hopefully officially been done now but call back next week to close it again as there's a stop on my account due to returned mail...from sending paperwork to update my address to my old address?! Never made so many calls to one company for a simple request that's turned into an absolute palava!!!! Constantly my responsibility to call and update their errors!!!!

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28th March 2017

Worth a punt -MaxYourMoney

I have a few thousand pound in savings due to the awful rate, I moved them into premium bonds. In the last 5 years I have made 2.5% consistently every year. I know there is a chance I'll earn nothing but for the cost of a coffee it's a price I'm...

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I have a few thousand pound in savings due to the awful rate, I moved them into premium bonds. In the last 5 years I have made 2.5% consistently every year. I know there is a chance I'll earn nothing but for the cost of a coffee it's a price I'm willing to pay! Plus with a chance to win even bigger ,this time next year Rodney we will be millionaires.

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12th January 2017

Good solid product not so solid website

NS&I may not be the trendiest or most eye catching financial institution but it has to be the most secure and dependable cos it's the Government. Interest rates are acceptable and the benefit is the Treasury is not likely to go...

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NS&I may not be the trendiest or most eye catching financial institution but it has to be the most secure and dependable cos it's the Government. Interest rates are acceptable and the benefit is the Treasury is not likely to go bust.
If you deal online via the NS&I website you need a lot of luck. Its like navigating the London Underground without a map and all the lights out. You will end up on the Central Line and probably reach maturity before your product does. They will send you a password before you are allowed in and if you don't use within 14 days will consider you have lost interest and cancel your subscription.
Use their call centre instead. Its free, calls seem to be answered quickly and the service is good. I have invested but as yet have not tested their repayment procedure.Discounting their website, overall the rest of the service is good and the main advantage is the dependability of the provider.