The Chancellor is aiming to unlock some of the £143billion worth of lockdown savings by Britons to fund the country’s green recovery from the coronavirus pandemic, the Treasury has revealed. Ordinary savers will be able to buy into ‘green savings bonds’ offered through National Savings & investments later this year, according to an announcement released … Read more
Millions of savers were unable to access their money yesterday after a meltdown at beleaguered National Savings & Investments. A ‘power outage’ hit the systems of the Treasury-backed bank meaning many of its 25million savers could not access its website, while its customer services could not help them over the phone either. Savers trying to log … Read more
NS&I ignored savers without the internet before making the decision to axe Premium Bond cheques in the post, insider reports reveal. The savings giant has been accused of abandoning older customers in its drive to axe prize warrants to save money and paper. Now Money Mail has discovered that the bank only consulted customers with … Read more
NS&I boss apologises to savers for poor customer service but warns them to expect long waiting times to continue until spring In a letter to MPs, Ian Ackerley defended NS&I and its performance last year He defended its decision to maintain and then slash savings rates in November It was deluged with £69.4bn from savers … Read more
Savers withdrew a staggering £6.2bn from NS&I accounts in November after rate cuts… as January’s Premium Bonds winners are named UK households saved more with banks and building societies during the month They put £17.6bn in cash accounts, up 38% from £12.7bn saved in October A woman from West Scotland and a woman in Barnet … Read more
Premium Bond prize cheques given temporary reprieve, after NS&I announces U-turn on plan to cull them By Rachel Rickard Straus, Financial Mail On Sunday Published: 21:50 GMT, 5 December 2020 | Updated: 21:50 GMT, 5 December 2020 Premium Bond prize cheques have been given a temporary reprieve, after National Savings & Investments announced a U-turn … Read more
VICTORIA BISCHOFF: If NS&I axes cheques, what’s to stop other banks from following suit? By Victoria Bischoff for the Daily Mail Published: 22:01 GMT, 1 December 2020 | Updated: 22:01 GMT, 1 December 2020 News that NS&I has delayed plans to axe Premium Bond prize cheques will come as an enormous relief to millions of … Read more
Today Money Mail lays bare your distraught reaction to NS&I’s proposal to axe Premium Bond cheques and pay winnings direct into bank accounts instead. This means customers must provide their bank details online or over the phone, which many savers say they are just not comfortable doing. The Treasury-backed bank yesterday bowed to pressure from … Read more
National Savings & Investments slashed Premium Bond payouts by more than £31million this month as it brought in hefty cuts to Britain’s best-loved savings product. There was little Christmas goodwill for savers from the Treasury-backed bank as it cut the number of tax-free prizes handed out in December’s draw by 1.1million compared to last month. … Read more
Up to 25million savers with National Savings and Investments are likely to see the interest paid on their money plummet today, if they haven’t already shifted it elsewhere. The Treasury-backed bank is hitting savers hard to seemingly try and force them out the door after they deposited £38.3billion into it between April and September, shattering its … Read more