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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To feel suspicious about nsandi.com website

22 replies

User5512 · 31/08/2023 15:37

Posted in investments section. Posting here for traffic.

I’m looking to invest a large sum of money for a year. National savings and investments are offering a great rate plus the added government backing on the entire amount, not just £80k. I never invested with them before, I clicked through on MSE website, I was taken to

www.nsandi.com

Is this genuine? They want me to pay the whole amount by debit card on their website in one go !! quite scary!

Home Page

NS&I offers you 100% secure savings and investments, backed by HM Treasury. Premium Bonds, ISAs and savings accounts. Start saving today.

http://www.nsandi.com

OP posts:
Glorifried · 31/08/2023 15:38

That is the right website - go direct if you'd rather not go via MSE.

Lazyladydaisy · 31/08/2023 15:41

It's the right site. I've just made a payment via my banking app. Lots of secure codes needed - but it was easy to do and made me feel a bit better.

EauNeu · 31/08/2023 15:41

Send £1 first and check it arrives ok if you want to be really sure

ErrolTheDragon · 31/08/2023 15:44

That's probably the right one but as a rule you should always type in URLs manually, never click through links. There are spoof sites which look right but a character is actually something else (like the way l and I look the same in many fonts, but sometimes even sneakier.)

MotherOfCatBoy · 31/08/2023 15:48

I clicked YABU not because I think you are “unreasonable” but because you don’t need to be concerned, ifyswim.
They are essentially government bonds so yes, the savings are secure and tax free. The government want you to invest so that they can reinvest/ spend it. The interest rate is usually competitive but won’t be quite at the cutting edge of what you could get at a commercial institution with more risk.
As long as you have the right web address as opposed have said, you’re good.
Their tech is quite good because the government have developed a lot of their public facing websites (like passports etc) to be highly functional and connected.

MotherOfCatBoy · 31/08/2023 15:49

As PP have said

Mypuppywontsleep · 31/08/2023 15:52

It’s fine I have some in here but not much. No issues. No winnings either!

YachtMistress · 31/08/2023 15:52

You will need to register with ns&i to set up an account. Recommend you do a test payment and set up enhanced security option (2 level authentication). Been using them for a few years now

Original poster
User5512 · 01/09/2023 17:47

MotherOfCatBoy · 31/08/2023 15:48

I clicked YABU not because I think you are “unreasonable” but because you don’t need to be concerned, ifyswim.
They are essentially government bonds so yes, the savings are secure and tax free. The government want you to invest so that they can reinvest/ spend it. The interest rate is usually competitive but won’t be quite at the cutting edge of what you could get at a commercial institution with more risk.
As long as you have the right web address as opposed have said, you’re good.
Their tech is quite good because the government have developed a lot of their public facing websites (like passports etc) to be highly functional and connected.

Is the interest tax free!!???? 🤩

OP posts:
MotherOfCatBoy · 01/09/2023 17:48

Check the t&cs rather than taking my word for it, but I think so. (Happy to be corrected if wrong… premium bond winnings are tax free.)

VisionsOfSplendour · 01/09/2023 17:49

MotherOfCatBoy · 01/09/2023 17:48

Check the t&cs rather than taking my word for it, but I think so. (Happy to be corrected if wrong… premium bond winnings are tax free.)

The OP isn't buying premium bonds, the interest is not tax free, maybe edit your post if it's not too late

VickyEadieofThigh · 01/09/2023 17:52

Interest on NS&I bonds is NOT tax free (I have them".

Original poster
User5512 · 01/09/2023 18:20

VickyEadieofThigh · 01/09/2023 17:52

Interest on NS&I bonds is NOT tax free (I have them".

Ah! Bummer!

OP posts:
MotherOfCatBoy · 02/09/2023 17:27

😬 oops
oh well, happy to be corrected.
Probably got them mixed up w PB winnings.

Lia73 · 13/09/2023 12:48

Pp - did you invest? Im looking to invest most of my savings too and searched mumsnet specifically about the mse Post you mentioned. I am sure it is safe too but scary!

Abitofalark · 13/09/2023 13:14

I've recently taken out a bond with them online - I looked up the url rather than using a given link - and they've given me the telephone number 08085 007 007 via an email confirming my registration and opening of the account. I am assuming it is correct and not dodgy. The email said they are also sending me a confirmation of my nsandi number by post.

If you're not sure, you can ring them and discuss your concern and find out whether you can open a particular account by telephone. Some accounts are only online.

Lia73 · 13/09/2023 16:29

Hi abitofalark. Thanks for replying and your advice. I decided to just go for it and had a look at another mumsnet post too. The only issue I had was that transferring most of my savings over by debit card was not possible, due to the amount. I have to go to the bank tomorrow with ID to see if they can allow me to put it through (if the offer is still there). I think others have had this problem too. So strange that NS & I do this via a debit card and not a bank transfer.

Abitofalark · 13/09/2023 16:43

Lia,Yes that is unusual and debit cards have a fairly low limit - at least mine has. Luckily I was only putting in a smallish sum to nsandi as I had already transferred most of my savings to other providers' fixed-rate ISAs and bonds before that issue with the higher interest rate from nsandi came out. I had to go in person to a branch to switch to the fixed rate ISA and sit around waiting.

Original poster
User5512 · 20/09/2023 20:42

Lia73 · 13/09/2023 12:48

Pp - did you invest? Im looking to invest most of my savings too and searched mumsnet specifically about the mse Post you mentioned. I am sure it is safe too but scary!

Yes, I invested. Looks fine

OP posts:
Original poster
User5512 · 20/09/2023 20:43

Hey, you can do it in chunks of £99k. I could do it with a debit card.

OP posts:
SunflowersAndSmellyTrainers · 20/09/2023 20:46

I've just bought a savings bond (totally different to a premium bond) through them - yes, they wanted the whole amount in one go to se ure the bond and lock in the rate - you can't add to it later like a savings account.

It's listed in my ns&I account next to my premium bonds.

Lia73 · 20/09/2023 20:56

User5512 · 20/09/2023 20:43

Hey, you can do it in chunks of £99k. I could do it with a debit card.

I'm not having much success opening an account at all. I tried opening just a regular saver account with £10 to see if I could transfer money from that into a high interest bond but my debit card keeps getting declined. This is after me going into the bank yesterday with ID, as my bank blocked my card on the NS and I site, due to me trying to do an initial big transaction with most of my savings to open an account. My bank told me they had unblocked it so I could make a small transaction but the NS & I site still says no!

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