I tried to change a NS&I fixed interest bond so that it would be cashed in at the end of the period. The default is to roll it on, but the interest rate is a desultory 0.5%, which is ridiculous.
So I logged in to the web site and tried to change the maturity option, but it wouldn't let me. This was on September 1, 9 days before maturity. So I phoned them on 08085 007 007. They told me that I couldn't change anything because there was a security lock on the account, which is applied when there isn't much activity on the account.
Well, it's a long term savings account, so there wouldn't be much activity. And then they removed the security block.
But I still couldn't make the change to the maturity options. So I phoned them again.
This went on and on until the 7th of September, at which point I still couldn't make the change, and so I raised a formal complaint.
It turned out that when they put it all online, they made some mistake with that account.
So on the 8th. they phoned me, but the call was from a number I didn't recognise, and the call got dropped. And by the time I called them again, it was 16:10 and the relevant caller had gone home.
I called again on the ninth. Still no luck.
On the tenth, I got lucky. I was able to speak to the right person, and he told me that the bond has matured, and cashed in, with the money going to my bank account.
He also told me that my complaint had been upheld, and I've been given £50 in compensation.
Which goes to show, when a major organisation makes a major blunder, it's worth making a formal complaint.
And my back is still giving me major grief.
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