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NS&I fails to make income payment to 8,000 customers

NS&I has admitted that it failed to pay 8,000 income bond customers their interest payment which was due on January 5 due to a “technical issue”.

NS&I says the issue affects around 3 per cent of all income bond customers.

The Government-sponsored firm says it will pay the outstanding interest as soon as possible.

The delayed payment is aresult of a technical issue, which we have now identified and only affects people who purchased Bonds during a limited five-day period between November 24 and 28 each year until 2009. It does not affect any other income bond holders nor any other product holders.

NS&I channel director Steve Owen says: “We know that the delay in income payments will be an inconvenience to our customers and we apologise profusely for this.

“We are working to rectify the problem, and hope to be able to make January’s income payments as soon as possible. We will provide a further update once we have the date of payment confirmed.”

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