From this date, customers of NS&I’s accounts and investments will not be able to collect withdrawal payments in cash at Post Office® branches (with the exception of customers holding an NS&I Cash ISA, where this service will remain available until further notice).

Instead, we will only make payments by direct credit to a bank account using the Bankers’ Automated Clearing System (BACS) or, in some cases, by crossed warrant (like a cheque) – please see the terms and conditions for your account or investment with NS&I.

Older NS&I Savings Certificates

For customers who invested before 1977, the terms and conditions of our Index-linked Savings Certificates and Fixed Interest Savings Certificates allowed customers to collect payments in cash, but now we are amending the Savings Certificates Regulations 1991 to remove this facility.

The amendments to the Regulations come into force on 20 September 2012 and will override the terms and conditions from that date.

Why is NS&I making this change?

We have already removed this facility from most NS&I accounts and investments, for example the Investment Account, so very few of our customers still collect payments in cash. And it was becoming increasingly expensive for us to maintain this service. Also, making payment direct to a bank account or by crossed warrant is more secure.

Issued by NS&I on behalf of HM Treasury

National Savings and Investments is a Trade Mark of the Director of Savings