Cashing in my Premium Bonds

[Skyedriver]

A few thousand, just less than £4, not much really but thing I'll cash in and put it in my ISA.
So I wait until after the first of the month? Can I phone them and just give my Holder ref,not sure I've got all my certificates, I bought in £100 lumps and think one may have gone asray.
How long does it take to receive the cash?

[dalenorth]

I use the online system to withdraw that normally takes a couple of working days, I assume you won't have log ins. Give them a call as withdrawals can be done on the phone, but set up the online option for future ease of use.

[Skyedriver]

Thanks

[bod27]

With cash isa's around the .75 to 1% rate why bother?

[brrapp]

Sorry to hijack your thread, but have been discussing this with my Mum who has just told me she has £6000 in Premium Bonds 'to pay for her funeral when she dies'. I'm sure we'll find the money somewhere to do this anyway, but does anyone know how easy is it to cash in Bonds after the holder has died?

[BoRED S2upid]

brrapp said:

Sorry to hijack your thread, but have been discussing this with my Mum who has just told me she has £6000 in Premium Bonds 'to pay for her funeral when she dies'. I'm sure we'll find the money somewhere to do this anyway, but does anyone know how easy is it to cash in Bonds after the holder has died?

As easy as cashing in any other investment.

[Chainsaw Rebuild]

I would suggest finding yourself a good independent financial advisor. I did and he set me up a stocks and shares ISA which is doing well. I found that the high street banks sell you rubbish cash ISAs with next to no return.

[Doofus]

brrapp said:

Sorry to hijack your thread, but have been discussing this with my Mum who has just told me she has £6000 in Premium Bonds 'to pay for her funeral when she dies'. I'm sure we'll find the money somewhere to do this anyway, but does anyone know how easy is it to cash in Bonds after the holder has died?

In the case of my mum, the solicitor notified NS&I (among all the other people), and they sent him the cash. It's part of the estate, so needs to be accounted for. I had enough cash to cover all the estate costs for the ten months that probate took, but the solicitor offered my siblings an advance on their legacies because they generally live on their overdrafts.

So as long as whoever's executing accounts for the value of the bonds, there should be no reason why you can't get the cash fairly early on - but not necessarily before the funeral needs paying for.

[Skyedriver]

bod27 said:

With cash isa's around the .75 to 1% rate why bother?

Who mentioned cash isa?