NATIONAL Savings and Investments (NS&I) is to stop operating its accounts through the Post Office and step up its dealings with customers directly.

From 2013, NS&I’s range of savings and investments will only be available directly, apart from Premium Bonds which will continue to be offered through the Post Office.

NS&I said the changes reflected the growing numbers of customers managing their savings by post, phone and online.

The changes will affect 2.3 million people with Investment Accounts and 260,000 with Easy Access Savings Accounts, as part of a modernisation process which began in 2007.

Jane Platt, NS&I chief executive, said: “Since 2007 we have been working to simplify and modernise our range of savings and to encourage our customers to invest with us directly. At the same time, the Post Office has grown its own range of savings products.

“We’re very proud of the service we deliver to savers by post, online and, in particular, via our UK call centres where staff have an average of 24 years’ experience and are available seven days a week, 365 days a year.

“We believe their expert knowledge of NS&I’s savings and investments will help our customers transfer to dealing with NS&I directly and we will work with our colleagues at the Post Office to support our customers through the changes.”

NS&I’s Investment Account will become a postal only savings account with statements replacing the current passbook, and offering an “improved interest rate“.

New applications for NS&I’s Investment Account will cease from November 28 and the account will become postal only in May 2012.

NS&I’s Easy Access Savings Account will close to all customers. Instead, they will be offered the NS&I Direct Saver account, or the postal Investment Account.

The Direct Saver account pays 1.75% gross AER against Easy Access Savings Account’s rate of 0.30% to 0.70% gross AER.

New applications for NS&I’s Easy Access Savings Account will also cease from November 28, and any remaining customer accounts will close completely in July 2012.

NS&I will begin contacting customers from December and said they do not need to take any action until then.

As well as simplifying and modernising its range, NS&I said the changes would help reduce costs and deliver a real saving of some 10% by 2015.

NS&I said some 75% of its sales through the Post Office were for Premium Bonds, which were remaining.

Several accounts are already only available directly from NS&I, including its Direct Isa.