9,000 facing cash delay in computer meltdown at NS&I savings bank

THOUSANDS of customers were yesterday facing delays to payments after an IT meltdown hit Britain’s largest savings bank NS&I.

Around 9,000 account holders have had withdrawals delayed, while staff have been unable to see details of some accounts preventing them from helping with queries.

NS&I, formerly known as the Post Office Savings Bank and National Savings, confirmed that those who requested payment online or by phone last Tuesday “will receive their money a day late”.

Requests that have been received since Monday may also be delayed.

But angry customers have taken to social media to complain to the company’s online helpdesk.

One victim has said that a property purchase has been affected.

The customer, identified only as NJ, said: “Any news on payments? I have not received a payment which I need to complete on a house purchase. Saying I am freaking out is putting it mildly.”

McBrit added: “I can’t log into my account, even after just resetting my password. Is there a system problem?” Another customer, Darren added: “Shocking service, would be very much understating it.”

NS&I last night said that customers’ money is 100 per cent safe.

In a statement, it said: “We have been experiencing technical issues, meaning that our call centre operators are unable to access customer information. We are working hard to resolve these issues as soon as possible so that our operators are able to assist customers with their queries.

“Customers are still able to log into their online accounts as normal and money invested with NS&I remains safe and 100 per cent secure.” A spokesman said: “The technical issues we have been experiencing have also meant that some customers who requested payment online or by phone on October 30 will receive their money a day late.

“Payments being requested online and by phone, meaning the majority of payments overall, are now being processed as normal and customers should not experience any delays”.

The spokesman added: “Customer service requests, including for repayments, received by post are currently waiting to be processed. Requests that have been received since October 29 may be delayed.

“We are working hard to resolve this issue as soon as possible so that all delayed instructions can be processed.

“We are very sorry for the inconvenience and will issue an update as soon as we have more news.

“Just under 9,000 customers who requested a payment online or through our call centre on October 30 may have experienced a delay of one day in receiving their money, due to this issue. Payments requested by post will be processed as soon as possible.”

Government-backed NS&I offers eight products to new customers, as well as two savings certificates only available to existing users.

Premium bonds, where each £1 unit has a 24,500-to-1 chance of winning a monthly prize, is thought to be the most popular savings account in the country.

The machine “Ernie” randomly selects winners, who can receive from £25 to £1million.

There is at least one £1million prize winner each month, who will be visited by “Agent Million” in person.

This week’s Budget statement revealed plans to lower the minimum investment for premium bonds to £25, down from £100.