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Adviser Centre

Frequently asked questions

In this section you’ll find the answers to the most frequent questions asked by advisers about NS&I

  • Where can I obtain a copy of the Terms of Business agreement and/or Letter of Authority documents?

    You can download copies of both documents from NS&I’s Adviser Centre website.

    Obtaining client information

    Please send your completed documents to NS&I, Sunderland, SR43 2SB.

    Note:

    Only the NS&I templates will be accepted.

  • Which NS&I products can be held in trust?

    NS&I investments that may be held in trust are:  

    • Fixed Interest Savings Certificates  
    • Index-linked Savings Certificates  
    • Guaranteed Growth Bonds  
    • Guaranteed Income Bonds  
    • Income Bonds  
    • Investment Account  

  • Which NS&I products cannot be held in trust?

    NS&I investments which may not be held in trust include:  

    • Direct ISA  
    • Premium Bonds  
    • Direct Saver  
    • Junior ISA  
    • Green Savings Bonds 

  • Who can I get to sign the statutory declaration?

    A statutory declaration can be signed by a solicitor, a magistrate or a notary public. 

  • Why am I not getting news updates from you since I have recently completed the form on the bottom of the home page?

    Have you also registered with the online service? If so, it may be because you have opted out of email marketing. Requests for updates via our website do not override marketing preferences set when you register with the online service. Please check and update your marketing preferences on your online service profile.

  • Why are NS&I products not available on platforms and/or back-office systems?

    The launch of the dedicated online service for financial advice firms was the first step in our plans to form closer ties with advice firms.

    NS&I is currently going through a multi-year transformation programme. As part of this, we want to explore other service enhancements such as transactional access and links with platforms, back office systems and/or cash management systems. Our research will help us to prioritise the most important service enhancements first, based on the needs of advice firms.

  • Why are only certain NS&I products allowed to be held in trust?

    The features of some of NS&I’s accounts and investments make them unsuitable to be held in trust.  

    • In line with ISA regulations, NS&I’s ISAs are only available to individuals and cannot be held in trust.  
    • Direct Saver is an account solely managed online and by phone. NS&I has decided not to offer the opportunity to invest in Direct Saver as part of a trust due to the complex nature of some trusts and the documentation required.  
    • Premium Bonds were designed as a tax-free product and the maximum holding limit gives individuals the opportunity to have a potential tax-free return from a monthly prize draw. The Premium Savings Bonds Regulations do not allow for Premium Bonds to be invested in by a trust as the investment was created for individuals to invest in. The regulations also do not allow joint investors whether incorporated or unincorporated to invest in Premium Bonds as this would go against the intention of the investment.  

  • Why are only Savings Certificates allowed to be held jointly by trustees and beneficiaries?

    Savings Certificates are the oldest products in NS&I’s current range and the original regulation permitted their use in this type of trust. Since then, NS&I has sought to simplify and standardise the terms and conditions for other products. While Savings Certificates remain available in the former type of trust, NS&I reviews the product range regularly and this may change in the future. 

  • Why aren’t trust accounts shown in the online service?

    This launch represents the first iteration of the service, with various other enhancements planned for the future.

    However, information on accounts held in Trust can be obtained via the phone service.

  • Why can I not use my online service login details to gain access to my client’s information via the phone?

    The NS&I adviser number which you are provided with and the password you create can only be used to access the online adviser service. However, as part of the continued improvements to how advisers can access NS&I customer information, we are looking to enhance the phone service, linking it with the online adviser service, allowing you to use one set of credentials for both online and over the phone. We will let you know when this happens.

  • Why do I need a Terms of Business agreement when I haven’t needed one before?

    The Terms of Business Agreement is a standard type of document which is used throughout the financial industry between providers and financial advice firms. This is a legal document between NS&I and financial advice firms which covers a wide range of legal and regulatory terms thus helping to safe guard the relationship between NS&I, financial advice firms and our customers.

  • Why do I need to provide the trust deed?

    In line with existing money laundering legislation, NS&I is required to seek evidence of their identity and evidence to support the proposed business relationship. In the case of trusts, the trust deed gives NS&I the appropriate evidence to support the application and proposed business relationship. 

  • Why do trust applications have to be made by post to NS&I?

    Investments on behalf of another party must be completed on paper, rather than online or over the phone.

    NS&I requires a copy of the trust deed to ensure that all trustees are in agreement, primarily if any of the transactions cannot be managed online. 

    Forms can be downloaded or requested by calling 0800 092 1228 (Calls from outside the UK may not be free. Calls may be recorded). These forms include all the information that your clients need to make their application, including details of documents needed to meet anti-money laundering regulations.  

    Download forms  

  • Why has NS&I decided to introduce an online service for advice firms?

    At NS&I we want our customers chosen advice firms to be able to access their information as easily and securely as possible. By making it possible for financial advisers to gain access to client information via a secure online service, this allows for a much more efficient relationship not only between NS&I and advice firms, but also our mutual customers.

  • Why has NS&I removed the option for my client to make a withdrawal from their Fixed Interest Savings Certificates?

    A fixed-term product is designed to be held for the full term purchased.

    We continually review our products and monitor the market conditions as well as competitor and customer activities.

    Removing the option to make a withdrawal brings us in line with the wider financial fixed-term investment market.

    If your client thinks they might need access to their money before the end of the term, they might need to consider if this is the right product for them.

Adviser email updates

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