news-14102024-132832

Premium Bonds savers have recently been warned about potential delays in the processing of Bonds purchases. A concerned customer shared their experience of facing difficulties in purchasing Bonds for their granddaughter. They had submitted all the necessary information along with a cheque three weeks prior, but had not received any updates even after the cheque was cashed on September 24.

The customer had provided copies of their son’s and granddaughter’s passports, proof of residence, and a utility bill copy. However, NS&I responded by stating that the delay in their response could be due to the need to post communication overseas. They highlighted the acceptable proof of address for those living abroad, which includes a certified copy of a current, valid overseas driving licence or a bank statement issued within the last three months.

NS&I further explained that if the application is not approved within 21 days of submission, a refund will be issued. The customer was advised to reapply with the required proof of address if necessary. Despite contacting NS&I about the issue, the customer was informed that the application was being processed and a reply letter would be sent out.

The customer expressed frustration over the lack of progress and was advised to have their son inquire about the status of the application if the letter was not received by the following week. NS&I reiterated that the application was being processed, but the utility bill provided as proof of address would be rejected for overseas customers.

They emphasized that the deadline for approving the proof of address was October 15, and if the required documents were not received by then, the application would be rejected and a refund issued. Reapplication was possible, but it must include the necessary evidence of address. NS&I also mentioned that the son may need to provide a document to prove the child’s identity for the Bonds purchase.

They provided a link to a webpage with information on what documents to provide for identity verification. If the deadline passed without the required documents being submitted, the funds would be returned, and reapplication would be an option. NS&I suggested that applying online could streamline the process and reduce the likelihood of delays in setting up the account.

In conclusion, Premium Bonds savers should be aware of potential delays in the processing of Bonds purchases and ensure that all required documents are submitted in a timely manner to avoid setbacks. The customer’s experience serves as a reminder to follow the guidelines provided by NS&I to facilitate a smooth and efficient application process for Premium Bonds.