NS&I warns Premium Bonds customers being sent letters saying 'account closed'

National Savings and Investments has warned customers after "accounts were closed" and they were issued notices. Taking to Twitter, now rebranded as X, a customer has hit out at the financial provider over the ambiguous messaging.

A customer fumed: " @nsandihelp I have received a premium bond prize cheque and the attached slip says THE ACCOUNT IS NOW CLOSED. What does this mean?" NS&I said: "Hi, Bill. Is this an unclaimed prize you've received? This could have been an unclaimed prize we have found from a now closed Premium Bond holding. Did you receive anything else in the letter that would indicate to this? Lex.

"Yes, it was an unclaimed prize. I was just worried that the bonds themselves were being closed!" the customer said. NS&I said: "If you know your holder's number, you can register for our Online & Phone Service here: https://bit.ly/3QGDSKw You'd be able to easily view what accounts you have with us online once registered. Lex"

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"That’s ok Lex, I have already applied for an online account," Bill said. "To clarify, have you recently registered for the Online and Phone service, or do you already have access to your investments online? Brandon," NS&I has commented.

"Recently applied, awaiting details," the customer said. "OK, once you have received your Online and Phone service information to log in, you will be able to view and manage your accounts with ease. Brandon," NS&I then told him.

Online, NS&I encourages people to sign up for an online account. Promoting its online offering, the financial provider - which is backed by the Treasury in the UK - has said: "You can manage most NS&I accounts easily and securely online.

"The first time you open an account with us, we’ll automatically register you. Our Investment Account is managed by post, so we won’t register you for online account management when you apply." NS&I is the only provider that secures 100% of your savings, however much you invest.