Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

fuming with Premium Bonds

(8 Posts)
MrsMoastyToasty Wed 14-Dec-16 22:53:15

I applied on-line for £100 of premium bonds for DS on 18th November . They debited my bank account the same day. a few days later i had a letter (looks like it was system generated) asking for certified proof of his identity. so i got a photocopy of his birth certificate signed by our solicitor and sent back to them in the pre-paid letter in plenty of time for the cut off for responding which was the 9th December. On Monday I get another automated letter dated 8th December thanking me for the proof of identity. Today DH checks the bank account to discover that our £100 investment has been refunded to us.
So I call Premium Bonds and ask what they are playing at. 1. they recieved the proof of identity ahead of the cut off. 2. They didn't enter it on their system because , and I quote "they are behind" and as a result it is classed as late. 3. they then sit on my money until 13th December.
i ask to speak to a manager. (this is after I have spoken to at least 2 other people)...to find that "all I can do is apologise" and suggests I re-submit my application on-line again and send the identity proof again (you can't even make an application via the Post Office any more)
If i could buy premium bonds from another organisation I would but they are the only organisation selling this product and its backed by HM Treasury.
So now I'm nearly a month further on and I have no investment and have to start the process all again

EleanorRigby123 Wed 14-Dec-16 22:55:04

A bit annoying but not the end of the world. There are worse things in life to fume about.

Fruitboxjury Wed 14-Dec-16 22:58:35

It sounds like a lot of mistakes were made, probably not by you. What are you hoping for from this post, is it a wwyd?

MrsMoastyToasty Wed 14-Dec-16 23:05:46

They've had a £100 of my money - a good proportion of my monthly wage, I may add- for the best part of a month sitting in their bank account and done nothing with it. Of course I'm annoyed

MrsMoastyToasty Wed 14-Dec-16 23:09:04

Fruitboxjury , just highlighting the total cockwomble-ness of this organisation

TalkinPeace Thu 15-Dec-16 22:27:36

But once you have bought them you could win money every month with them
not sure what your problem is

SixthSenseless Thu 15-Dec-16 22:32:57

I agree, OP, it took me weeks and about 5 postal exchanges to buy child bonds and set up an online account. Same for Premium
Bonds. The NS&I is very last century in its methods, it seems.

timeforabrewnow Sat 17-Dec-16 08:18:55

I've finally got the premium bonds that I'd bought back - and what a lot of hoops to jump through to achieve that!!! At one point, I thought I would never get my own money back, as the process was so ridiculously complicated and stupid.

I would strongly advise you to put your childs £100 into a child trust fund account, where at least you get some interest on it, and can easily add more money etc.

Martin Lewis doesn't rate Premium Bonds either.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now