Premium Bond payments

[MAD87]

I seem to recall being here before, but OH's PB winnings are now not being paid into my Nationwide Flex account. I assume that NS&I have looked at the bondholder/receiving account and shaken their heads.

Is there another account I can open for him to avoid selling his holding?

[MAD87]

PS. We don't have a UK address.

[widge]

We have natwest and TSB accounts with French addressed premium bonds are happy to pay into those, but we did have these accounts for decades before we moved to France, I know the conditions for opening a new NW account are strict, I am not sure about TSB. As a temporary measure you can get PB to just re invest any winnings, at least that would give you some time to find an alternative.

If you get a revolut account you will get a UK account number and sort code, but not sure if PB will accept that as a valid UK account.

All you can do is talk to PB to find out.

[Sparkle]

We have our winnings paid into our NS&I Direct Saver account and then we transfer out to our NW account as and when - no problems........yet.

[exile]

I think that, post Brexit, opening a UK account will be difficult since banks, building societies, insurance firms etc can no longer offer any new services unless they are also registered within the EU - and most aren't. HSBC are but it took a year and a goodly stash for me to get nowhere with them. They constantly requested the same certified documents as already provided and only gave feedback when prodded to do so.

My best suggestion would be to see if they would pay into a Revolut sterling account. I gather that Revolut will issue you with a UK account number and sort code.

[MAD87]

I've been thinking more about Revolut - I dismissed it before as it's Russian, but I'll put it to OH. My winnings continue to be paid into my account, which leads me to suppose that it's the fact that it isn't OH's account that's caused the hiccup.
We can't reinvest winnings as we each hold the maximum.
Bugger Brexit!

[hughnique]

Mentioning HSBC, been with them for ages, but last year I noticed that my savings account had slipped to 1.75%, from 4%, so looked around for a different scheme. After transferring quite a large sum in to my French account, sorry our French accounts, I opened up a couple of Livrets in our names, only to then be told that the interest is payable at the end of the year, presumably if you do not make any withdrawals. So then HSBC present me with an online Bonus Saver Account, which starts at 1.75% but if left attracts a good 4% payable monthly thereby giving compound interest on a monthly basis. That's when it started to go wrong, you can apply online, but only if you live in the UK, otherwise it is telephone or Branch attendance , telephone seemed the only option, so rung, and as usual through to Mumbai, or wherever, so as I can't understand half of what is being said, only to be told I can apply online, I then had to educate this punka wallah that was not the case as I did not reside in the UK. He did not know that, having gone through all the security checks are you telling me that my address does not materialise. Now they want proof of ID, Like another member herein, who incidentally seems to have evaporated, I do not have a smartphone, or a webcam, so they told me to send documentation to a certain address where it could be ratified. I searched this address and found it was the bereavement department, and having spoken with them was told under no circumstances send that info here as they would not deal with it, then I am told to send it all to the manager at the Canterbury branch, again that was a red herring, and so it went on for weeks, ringing up the telephone banking service and getting regurgitated crap telling me the same false information time after time, I got hoarse from shouting down the phone in the end. Finally I contacted an English speaking woman from somewhere in the complaints dept, who arranged for the Specialist Banking team to ring me, they never did. Eventually I received a letter through the post dated 1st Jan 25, it arrived on the 3rd Feb, via snail mail, inviting me to contact aforementioned specialist team, who eventually were successful in opening this account and low and behold the complaints dept lady paid £250 in to my account, in compensation and loss of interest. Eventually a satisfactory result.

[demi]

If you cal lpeople 'punka wallahs' & shout down the phone I am not surprised it takes you a long time to get things done.

[widge]

I've been thinking more about Revolut - I dismissed it before as it's Russian, but I'll put it to OH. My winnings continue to be paid into my account, which leads me to suppose that it's the fact that it isn't OH's account that's caused the hiccup.
We can't reinvest winnings as we each hold the maximum.
Bugger Brexit!

Apparently (according to Wikipedia) Nikolay Storonsky (Russian) and Vlad Yatsenko (Ukrainian) started Revolut, Nikolay Storonsky Gained British nationally, he has also condemned the invasion of Ukraine and renounced his Russian citizenship.

Having said that I still don't know if PB will accept revolut as a valid bank without a UK address, you will have to ask them.

[demi]

If you call people 'punka wallahs' & shout down the phone I am not surprised it takes you a long time to get things done.

(Edited for typo).