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Switching

  • What is switching?

    By switching we mean moving some or all of the money you have in an existing NS&I account to a new account you open with us.

  • How do I switch my money from an NS&I account I hold to a new NS&I account?

    Simply download the application or switching form for the new account you want to open or call us and we can send you the form.

    Forms for our accounts

    Call us

    Complete the form, including the amount you want to switch and the NS&I account you are switching it from. Then post it to us.

    Once we receive your completed form we’ll open the new account and move the money across from your existing NS&I account. We’ll send you confirmation of this.

    If you mark on the form that you want to close the account you are switching from, we’ll automatically pay any remaining balance to your nominated bank or building society account on our records. Or, if we don't hold this, we will pay it to the bank or building society account you nominate for your new NS&I account.

  • Can I switch online or by phone?

    No, you can only switch by post.

  • Which NS&I accounts can I switch to?

    You can switch to any NS&I account on sale for which you are eligible. See the summary box and brochure, including the terms and conditions, for each account for details.

    See our range of accounts

  • How much money can I switch?

    You can switch any amount from the minimum to the maximum for the account you are switching to.

    If the amount you are switching will take the balance on the account you are switching from below its minimum, you must mark on the form that you want to close that account.

  • Can I switch a fixed term investment into another NS&I account?

    Yes. If you switch the money before the investment’s maturity date, a penalty may apply. See the terms and conditions for your fixed term investment.

    If the investment is approaching its maturity date, you can ask us to defer the switch until the maturity date. You can do this if the investment is within 30 days of its maturity.

    If you switch from a fixed term investment that’s not on sale, you won’t be able to switch back.

  • How do I switch my maturing NS&I fixed term investment into another NS&I account at maturity?

    Simply download the application or switching form for the new account you want to open or call us and we can send it to you.

    Forms for our accounts

    Call us

    Complete the form, including the amount you want to switch and the fixed term investment you are switching it from. Mark on the form that you want to defer the switch until the maturity date. You can do this if the investment is within 30 days of its maturity.

    Then post the form to us. We’ll need to receive it no later than two working days before your fixed term investment matures.

    If you only want to switch some of the money in your maturing fixed term investment into another NS&I account, you’ll also need to decide and let us know what you want to do with the rest. You can do this by completing the form in your maturity pack and returning it to us in the same envelope as your completed application or switching form. Or if you are registered for our online and phone service, you can tell us what you want to do with the rest of the money online. Log in using your NS&I number and password. Then click ‘view maturity options’ for your maturing fixed term investment on your homepage:

    Log in

  • Can I switch my child’s NS&I account into another NS&I account?

    Yes, you can switch an NS&I account for your child that you are responsible for as their parent or guardian into another NS&I account for your child. Children under 16 can hold our Junior ISA, Premium Bonds and our Investment Account. Find out more about these accounts:

    Junior ISA

    Premium Bonds

    Investment Account