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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.”


Co-founder Gains to leave Mint

Mint Financial Services chief executive officer and co-founder Paul Gains is to leave the net- work next year. Gains has been on garden- ing leave since November and his employment will terminate in February 2011. In an email to Mint employees and advisers from chairman George Higginson on Tuesday, seen by Money Marketing, Higginson says: […]

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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