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Savers trying to invest their cash with NS&I to aid the coronavirus effort have been left frustrated by repeated issues at the Government-backed provider.
NS&I has rocketed to the top of the savings best-buy lists after the Government ordered the organisation to raise £35bn to fund the fight against coronavirus. But savers have encountered multiple problems with their accounts and customer services.
John Perkins, from Lancashire, wanted to contribute by investing his savings in NS&I’s Income Bonds, but suffered problems when trying to set up his account.
Despite repeatedly contacting NS&I, it took six weeks for the snags to be resolved. Mr Perkins was one of many people seeking to take advantage of NS&I’s easy-access Income Bonds, which pay a market-leading 1.16pc.
He said the issues were “nothing short of scandalous” given the money was being raised to help fight Covid-19.
Another customer, Mary from Nottingham, saw her £10,000 deposit disappear twice but was unable to find out what had happened because NS&I’s phone lines were jammed. She tried to use the online chat facility 10 times over four days but was unable to get a resolution.
Lorna, a saver based in Cork, could not access her accounts online for over a month but repeated requests for help went unheard.
In each case the issues were solved after Telegraph Money intervened.
NS&I said it was fully investigating what went wrong. A spokesman said NS&I was operating with reduced staffing levels because of the pandemic. It was also experiencing higher demand than normal.
“We are sorry that some customers are experiencing difficulties,” he said.
NS&I said it was adding new office space to allow more employees to return to work in a socially distanced manner. It encouraged customers to use its website to manage their accounts if possible.
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