An expat trying to buy Premium Bonds was left bewildered after he struggled to complete the purchase using the NS&I website.
The customer had moved to Germany but still had an English bank account and home address. He contacted provider NS&I over X to ask what the process would be for him to purchase more Bonds.
He said: “What application form do I need? Or how do I apply? The home page has left me a bit confused.”
The savings giant replied to say that if he had a UK address and bank account, he would be able to open an account online to purchase the Bonds.
He was also told if this was not the case, he would have to print off and post this form to buy the Bonds. The form is entitled ‘Application to buy Premium Bonds for yourself or your child under 16’.
The man responded to clarify that he officially lives in Germany now but his bank address is in England with his account addressed to his parents’ home address.
NS&I said: “If you invested online it would be an issue as the address you provide us and the address on your bank account need to match. In this case, it would be best to open the account via a cheque and form.”
The provider also sent him a link to an information page on the group’s website about customers living outside the UK.
Under a section about holding Premium Bonds while living abroad, the webpage states: “If you live outside the UK, please check if local regulations let you hold Premium Bonds.
“For example, the US has strict gaming and lottery laws which mean that it might not be possible or practical to hold Premium Bonds while in the US.
“If you’re allowed to hold them, you’ll need to apply first by post. Once your holding has been set up, you can register for our online and phone service.”
The page includes a link to register for the online and phone service. Once a person is registered, they can manage their Bonds online or over the phone, including cashing them in or buying more.
The webpage also says: “You can also choose to receive prizes by BACS to a UK bank or building society account or an NS&I Direct Saver or Investment Account, with notifications by email.
“Bonds can only be purchased online or by phone using a personal debit card issued by a UK bank or building society.”
For the latest personal finance news, follow us on Twitter at @ExpressMoney_.
