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Ian Ackerley blames an increase in customers, the pandemic, cuts to interest rates and the decision to phase out Premium Bond prize cheques for soaring wait times and a rise in complaints.
Searching for a decent income from your savings and investments has rarely been more challenging. In climbing terms, it is more akin to summiting the ferocious K2 mountain in midwinter (as some brave hearts have just thrillingly done – please get down safely) than indulging in a spot of fell walking in the Lakes (lockdown rules permitting, of course). The income landscape is indeed bleak. Interest from most mainstream savings accounts is now so miserable it is more likely to be measured in pence rather than pounds. Scaling the heights: Searching for a decent income from your savings ...
At last, after four and a half years of brinkmanship and tortuous negotiations, we have a post-Brexit trade deal – for better or for worse. Although not all the i's have been dotted and not all the t's crossed, it means that we can now head into the New Year with a little bit more confidence in our economy's prospects than appeared to be the case a week ago. Perhaps, the deal will prevent in the future the sort of disruption we saw at Dover. For better... or for worse: The Brexit deal will drive up travel insurance costs and remove our right to free medical care provided by the European Hea...
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...
Savings giant NS&I failed to consider if its controversial plan to axe Premium Bond prize cheques discriminated against the elderly and vulnerable, the Treasury admits. National Savings & Investments had intended to start phasing out the popular payment method this month and instead credit customers' bank accounts with the winnings directly or reinvest them. But the Treasury-backed bank was forced to delay the move amid a backlash and customer service meltdown. Backlash: NS&I had intended to start phasing out cheques this month but the Treasury-backed bank was forced to delay the move amid a ...