NS&I to close Post Office accounts

Published by Ruth Jackson on 03 November 2011.
Last updated on 03 November 2011

money on chart

National Savings and Investments (NS&I) is to stop operating its accounts through the Post Office.

Customers will not be able to open an Investment or Easy Access Savings Account from 28 November, but premium bonds will still be available.

Transition

Investment Accounts will go through a transitional period after 28 November until May 2012. During which time no new accounts can be opened but those with existing accounts will be able to manage them at Post Offices and by post. But from May 2012 the accounts will become postal only and new accounts will be available again.

The Early Access Savings Account will be closed entirely in July 2012, but until then existing customers will still be able to operate their accounts either at the Post Office or by phone. In July, customers will be offered the choice of moving their money into a new postal Investment Account, a Direct Saver Account, or taking their money elsewhere.

Premium bonds will remain on sale at Post Offices for the foreseeable future.

first direct 1st Account

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