NS&I to close 12m accounts

From 1 August, Ordinary Account customers will no longer be able to make deposits or withdrawals from their accounts, except to close accounts or transfer funds to other accounts. The move follows NS&I's launch of the Easy Access Savings Account in January, which replaces the Ordinary Account. Changing customer needs have forced NS&I to make the change, the executive agency says. There are more than 11.9m Ordinary Accounts in the UK, however just 250,000 customers use these accounts regularly, with most not used for more than two years. Hoping people currently not using their ...