NS&I warns Premium Bonds holders they will have to pass 'strange' question

NS&I has warned Premium Bonds players over having to pass "strange" questions to access their accounts. National Savings and Investments, which is backed by the Treasury, spoke out on Twitter, now X, in reply to a concerned customer's queries.

"The security questions for your account are only set up by the account holder," NS&I said. It added: "We do not issue new ones or change them without your input. The answers in place are provided by you when you set up the security."

The group said: "Not to worry, if you have forgotten the answers, you can have them hanged by calling our secure phone line on 08085 007 007." It came after a Premium Bonds holder said: "Trying to transfer money, being asked security questions that do not make sense.

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"Being asked my spouse's elder sibling, she doesn't have one. Also my primary school teacher, I'm 91??" NS&I security features include two-factor authentication. On its website, it says: "Two-factor authentication, also known as 2FA, is an extra layer of security for your NS&I account. It’s designed to make sure you're the only person who can access your account – even if someone else knows your NS&I number or password.

"It’s a second step to check that it's really you, so we're able to keep your savings safe and secure." It adds: "As scammers are becoming more sophisticated, banks are introducing ways to make authentication better. Two-factor authentication helps to keep cyber criminals out of your accounts, even if they know your passwords."

"Two-factor authentication uses at least two of three different types of identification information (or factors) to make sure it's really you," including a piece of information that only you know, like a password, a device that you own, like your mobile phone and a characteristic unique to you, like your fingerprint or your face.