NS&I has made attempts to reassure its customers that they can continue to access their savings during the coronavirus crisis. It comes as the government-backed savings bank urged its savers – including Premium Bonds holders – to access services online, where possible.
In a message sent to customers, seen by Express.co.uk, Ian Ackerley, NS&I Chief Executive, said: “This is an uncertain time for everyone, and we would like to reassure you that you will continue to have access to your savings during this exceptional time.”
The savings bank also told savers that it is possible to manage savings and change personal details online, at nsandi.com.
“If you have an online account, you can manage your savings, as well as changing your personal details, quickly and easily at nsandi.com,” the guidance read.
“You’ll also find a broad range of help topics on our website, as well as a page dedicated to the latest news and updates about our services during this time.”
Yesterday, NS&I said it was urging customers to go online if they needed help in managing their savings during the coronavirus pandemic.
It added that this would help NS&I to free up call centre capacity for those customers who need to access it most at this time.
NS&I confirmed that there are fewer staff in the contact centres due to the impact of coronavirus, and the bank is also seeing an increase in call volume, with people calling for a number of reasons related to their savings.
NS&I explained that as such, it is taking longer than normal to help customers.
Should people be able to do so, they are directed to use nsandi.com to deal with their queries, meaning that those who are most in need, such as those who do not have access to the internet or those who require critically urgent help, can deal with NS&I by phone.
Additionally, customers are being told that they should also only send NS&I anything by post if they have no other choice.
Yesterday, NS&I also pointed out that it is backed by HM Treasury, so all money invested is 100 percent safe.
Customers registered for NS&I’s online and phone service can use nsandi.com to:
- Check their balances
- Pay money in or take money out
- Choose to have any Premium Bonds prizes paid to their bank account
- Transfer money between NS&I accounts
- Provide instructions for when a fixed term investment matures
- Update personal details.
Should a customer be registered to manage their account by phone, then they can log-in to their account online by using the same password and NS&I number.
If they have forgotten their details, they are advised that they can get a reminder of their NS&I number or reset their password online.
Meanwhile, people who want to invest into an existing NS&I account, are told that the quickest way to do so is to make a transfer from their bank account.
Customers are able to invest into Premium Bonds, Income Bonds, Direct Saver, Direct ISA, Junior ISA and Investment Account by bank transfer.
In light of the current circumstances, NS&I has said that customers who already have a nominated bank account set up to receive withdrawals, should not change these, unless they no longer have access to that account.
The winners in the April 2020 Premium Bonds prize draw are set to be revealed in a matter of days.
It will mark the final month in which the odds are 24,500 to one, ahead of changes coming into effect in May 2020.
The Premium Bonds prize fund rate will reduce by 10 basis points, from 1.40 percent to 1.30 percent from May 1, 2020 – meaning the odds will change to 26,000 to one.