Technical glitch delays interest payments to thousands of UK income bond customers

News - Savings

Written by Ray Clancy

Thursday, 14 January 2010 09:33

Thousands of National UK Savings Bonds owners have not received interest payments due to a technical fault.

National Savings and Investments said it has written to around 8,000 customers to explain why they have yet to receive interest payments from their income bonds and to apologise.

The Treasury backed savings product provider said bond customers should have received their income payments on 5 January, but the glitch, which is still not fixed, has prevented the cash being paid out.

Customers affected are those who bought their bonds during a five day period running between 24 to 28 November every year up to 2009.
‘We know that the delay in income payments will be an inconvenience to our customers and we apologise profusely for this. We are working to rectify the problem and hope to be able to make January’s income payments as soon as possible,’ said NS&I’s channel director, Steve Owen.

The delay, which in total has affected around 3% of income bond customers, does not affect any other income bond holders or any other NS&I products, he added.

The company also reminded customers that it has recently changed its general enquiries number. Customers can now call NS&I free on 0500 007 007. The former chargeable enquiries number, 0845 964 5000, will continue to operate but customers may incur a charge from their provider. NS&I’s sales line will continue to operate through 0500 500 000.