Back in May I applied to National Savings & Investments to open a 65+ Bond valued at £20,000, in the joint names of my husband and myself. All was satisfactorily put in place until, after a holiday, we realised time was short to meet the deadline for the return of the necessary ID documents. The day before the deadline I sent them via registered mail, and received a letter from NS&I confirming they had arrived in time.
But five days later we received a second letter from NS&I stating that the necessary documents had not been received in adequate time, and as a result we had missed out on the bond.
I feel NS&I should admit that they failed to meet their contract and reinstate the application for the bond. If this was anything other than a government organisation I would expect compensation for the three hours that I have spent talking to their staff. What do you think? MH, Tewin, Herts
The NS&I’s pensioner bonds, as they have become known, were incredibly popular following their launch in January because they dwarfed the other savings rates on offer, until they were withdrawn just after you applied. NS&I couldn’t cope initially, although we understood that those problems were long since passed.
According to NS&I, your bond was rejected because of a mix up. It requires two forms of ID for it to establish who you are, and was under the impression that you had only sent one in the case of your husband. However, it has since been able to confirm his identity electronically, and as a result it has agreed to reinstate your three-year bond. It has also arranged for a goodwill payment of £75 to be sent to each of you to apologise for the misunderstanding.
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