Premium Bonds - Not a bean for months now!!!!
Discussion
webstercivet said:
sh1ggsy said:
I think the point is that the bonds numbers that are unclaimed are probably mostly still eligible for current draws, if they were to win again (or any in the same batch they were purchased with) then their existence just reduces the chances of winning for everyone else, good for the government though, they have to payout less.
5 of the unclaimed bonds are worth £100k each.
Yeah, but they're a small percentage. For the whole time premium bonds have existed, there's only £63m unclaimed prizes. There's £93m in fresh prizes every single month. So shouldn't be a major concern.5 of the unclaimed bonds are worth £100k each.
Edited by Mariosbt on Thursday 5th March 17:32
Here's something to bear in mind regarding getting money out - if you know anyone who's about to croak, get the money out quick.
Once they've died it's a faff, and anything over £5K needs Probate - some people have to get Probate just for Premium Bonds when they wouldn't otherwise need to.
Once they've died it's a faff, and anything over £5K needs Probate - some people have to get Probate just for Premium Bonds when they wouldn't otherwise need to.
I've got a bit of spare cash this month that I was going to put into PBs but considering how low the markets are at the moment, and since I'm not likely to need the money anytime soon, it's going in the stocks and shares ISA instead. Give it a year or two and hopefully it will have made more than the inflation-adjusted loss I'm likely to get on PBs.
CaptainSlow said:
When do you need the bonds to qualify for the draw and how quickly do they hit your account when you withdraw?
I want to dump £20k in my 19/20 ISA but stay in for March's draw.
Just to be pedantic, but I think you mean you want to stay in for the April draw (March one has already been done).I want to dump £20k in my 19/20 ISA but stay in for March's draw.
I'll be doing the same thing, but only to top up this years ISA to the max to take advantage of the low markets, (though not all at once).
I just checked the NS&I withdrawal time and it says if you withdraw on the 1st of April before 8pm it should hit your account on Friday 3rd April.
https://www.nsandi.com/how-long-does-it-take-recei...
Got a feeling a few people might be doing this this month
Eagleye said:
Some are saying that PBs are going to take a battering this month which will increase the chances of anyone who doesn't withdraw.
I can't see it myself but it will be interesting to see if we see any anecdotal evidence.
The prize rate stays the same, right?I can't see it myself but it will be interesting to see if we see any anecdotal evidence.
Therefore, I think that withdrawals reduce the size of the total prize 'pot' and don't change individual chances of winning.
Eagleye said:
Some are saying that PBs are going to take a battering this month which will increase the chances of anyone who doesn't withdraw.
I can't see it myself but it will be interesting to see if we see any anecdotal evidence.
I was thinking the same thing...I can't see it myself but it will be interesting to see if we see any anecdotal evidence.
...however I was also wondering if any of us would see any kind of prize for the foreseeable!
NickCQ said:
The prize rate stays the same, right?
Therefore, I think that withdrawals reduce the size of the total prize 'pot' and don't change individual chances of winning.
I'm not sure if this is completely correct. The number of major prizes remains the same so if there are fewer bonds, if you keep the same number then doesn't your chance of a major win increase?Therefore, I think that withdrawals reduce the size of the total prize 'pot' and don't change individual chances of winning.
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