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Media centre /
Press releaseORDINARY ACCOUNT CLOSES IN FOUR WEEKS30 June 2004Customers still transacting on the Ordinary Account should take action now to ensure they transfer their savings before 31 July 2004, says National Savings and Investments (NS&I), the government backed savings and investments organisation that has run the account since 1861. From 1 August, Ordinary Account customers will not be able to make deposits or withdrawals over the counter at Post Office branches or by post with NS&I, except to transfer their funds to a different account or close the account. In January 2004, NS&I launched the Easy Access Savings Account in place of the Ordinary Account in response to changing customer needs, offering increased access and consistent and competitive interest rates. Ordinary Account customers must now decide if they want to transfer to the new account or NS&I's Investment Account or to simply close their Ordinary Account. There are over 11.9 million Ordinary Accounts in the UK, worth around £214 million, which have not been used for over two years, as well as over 250,000 accounts that are being used regularly by customers countrywide. NS&I customers can come forward and claim their lost or forgotten savings even if they no longer have their passbook or have not used the account for years. (See notes to editors) Customers can transfer to the Easy Access Savings Account or the Investment Account by obtaining a transfer form from their local Post Office branch or calling NS&I on 0845 366 6667. To close their account customers should request a closure form (NSA5MA) from a Post Office branch or telephone 0845 366 6667. The completed form should be sent with their passbook to: National Savings &Investments, Glasgow G58 1SB. ENDS NOTES TO EDITORSTo claim lost or forgotten savings, with or without account passbooks, customers should contact NS&I and ask for a Tracing Service form or download a copy from the website at www.nsandi.com . Call 0845 964 5000 for further information. National Savings and Investments is an Executive Agency of the Chancellor of the Exchequer. If, for any reason, customers can not transfer their account before 31st July their money will remain 100% safe and available to transfer at any time in the future.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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