MPs seek answers from NS&I following string of complaints
PA
MPs are seeking answers from savings giant NS&I following a string of complaints.
The chair of the Treasury Committee Mel Stride has written to NS&I’s chief executive Ian Ackerley following indications that consumer satisfaction levels with the provider of Premium Bonds and other saving products are low.
The committee highlighted “dramatic cuts” that NS&I, which is backed by the Treasury, has made to its savings products as well as a recently-postponed decision to stop paying Premium Bond winners using warrants, which are like cheques.
In early December, NS&I (National Savings and Investments) said it is delaying its planned phase-out of Premium Bonds prize warrants because some customers have struggled to contact the provider.