Premium Bonds - Not a bean for months now!!!!

[The Mad Monk]

£100 for The Mother Superior and me.

We will give it all to the church, of course.

[TheLordJohn]

Pork said:

Met a financial advisor last night and, amongst other things, he told me two stories about PBs.

1 - he personally has more than £50k as there wasn't previously a limit, though he's not able to add more. And he once won £125k on them! Jammy sod.
2 - one of his clients won the lottery. Put some money in to PBs.... won a £1m prize! Don't tell me there's no such think as lucky people!

Might be utter lies but he's no reason to lie to me.

First one is definitely bks, second one (on account of the first) is almost certainly bks, too.
The max holding was £30k for as long as I can remember as I know someone who uses other family members.
It was then upped to £40k in last 18 months or so and is either going to, or already has, gone up to £50k.

It's a huge con.

[AdeTuono]

Some might think it's a con, but it plainly isn't when current accounts are paying little to zero interest. And I've made over 10% on £50k this year already. You don't have any worries about your money disappearing either.

How is that a con?

[Doofus]

AdeTuono said:

Some might think it's a con, but it plainly isn't when current accounts are paying little to zero interest. And I've made over 10% on £50k this year already. You don't have any worries about your money disappearing either.

How is that a con?

Its not a con. It's a lottery for which you only buy your tickets once, and you can cash them in whenever you like, whether or not they have won anything.

[craigdub]

First £500 deposited, roll on the August draw

[AdeTuono]

Doofus said:

AdeTuono said:

Some might think it's a con, but it plainly isn't when current accounts are paying little to zero interest. And I've made over 10% on £50k this year already. You don't have any worries about your money disappearing either.

How is that a con?

Its not a con. It's a lottery for which you only buy your tickets once, and you can cash them in whenever you like, whether or not they have won anything.

Precisely. In the current climate, it's a relatively safe harbour. And even more so when compared to the lottery.

[Doofus]

AdeTuono said:

Doofus said:

AdeTuono said:

Some might think it's a con, but it plainly isn't when current accounts are paying little to zero interest. And I've made over 10% on £50k this year already. You don't have any worries about your money disappearing either.

How is that a con?

Its not a con. It's a lottery for which you only buy your tickets once, and you can cash them in whenever you like, whether or not they have won anything.

Precisely. In the current climate, it's a relatively safe harbour. And even more so when compared to the lottery.

Of course, I'd feel more convinced if my £50k was returning 10%, rather than my current run rate of 0.7%...

[Pork]

TheLordJohn said:

First one is definitely bks, second one (on account of the first) is almost certainly bks, too.
The max holding was £30k for as long as I can remember as I know someone who uses other family members.
It was then upped to £40k in last 18 months or so and is either going to, or already has, gone up to £50k.

It's a huge con.

It's been £50k for some time. I remember it being £30k for a long time prior to that.

He was adamant that there wasn't always a limit.

[TheLordJohn]

Pork said:

It's been £50k for some time. I remember it being £30k for a long time prior to that.

He was adamant that there wasn't always a limit.

£50k was only in the last 2 years at the most, if not less.
Quite some time, to me, is a decade.

[ollie05]

Been luck enough to win at least 25 quid on every draw this year.

Not Megabucks but better than interest I would've made in a savings account

[rufusgti]

dingg said:

premium bonds - its the best managed ponzi scheme in the world.

In what respect?
You can get your money back at any point.
Nobody loses out.
Some win based on pure luck, which is known from the offset.
Nobody tries to sell their premium bonds on to someone else, ever.

Just wondering what you think a Ponzi scheme is, and how you connnect that to premium bonds?

[princeperch]

I appreciate this is probably utterly irrelevant as I never seem to win...

I've got to pay a builder on Monday 3rd July. The money I'm paying him with is in premium bonds.

Does anyone know what the latest date is is I can cash them in so as that they are still in the draw the results for which come out on what I presume will be the 3rd or 4th? I.e if I apply to encase them on Thursday 29th- will they be in the draw that comes out the next week?

It's not an insubstantial amount and I know I'll probably not win anything anyway but thought I'd ask...

[Pork]

I think they have to be in on the date of the draw. If you take them out on 29th, you'll miss the next draw.

[S6PNJ]

When you go to the website to cash them in, there is a box to tick - cash in after the next draw. Tick that and you'll be fine. Expect the money in your account on 5th or 6th, possibly 7th July (the next draw is on the 4th July). if this is too late, ask the builder (and explain why) if you can pay 2-3 days later. It has worked for me in the past and I've even managed to get some payments deferred by 1-2 weeks sometimes!

[dingg]

rufusgti said:

In what respect?
You can get your money back at any point.
Nobody loses out.
Some win based on pure luck, which is known from the offset.
Nobody tries to sell their premium bonds on to someone else, ever.

Just wondering what you think a Ponzi scheme is, and how you connnect that to premium bonds?

Just imagine everyone wants their money back next month

government scam IMO - have you EVER heard of anyone winning the big one?

[Pork]

dingg said:

Just imagine everyone wants their money back next month

government scam IMO - have you EVER heard of anyone winning the big one?

Taken with a pinch of salt but was told recently about a guy who had won £1m in a village near where I grew up.

He'd bought PBs with some of his lottery jackpot winnings.

[AdeTuono]

dingg said:

Just imagine everyone wants their money back next month

government scam IMO - have you EVER heard of anyone winning the big one?

Of course there are big winners. Numbers and regions are released to the public. I doubt NSI are allowed to release more details, but I know of one £1,000,000 winner very close to where I live.

BTW;

https://en.oxforddictionaries.com/definition/us/sc...

[the tribester]

Junes big winners https://nsandi-corporate.com/june-2017-premium-bon...

[AyBee]

AyBee said:

Doofus said:

AyBee said:

2 x £25 again...1.58%...

This was me a few months back. Enjoy the smug. It won't last

You jinxed me...big fat £0 this month and down to 1.40%

Definitely jinxed me...nothing again Down to 1.26%

[lbc]

Good month.

3x £25