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

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

Author
Discussion

Jonny_

4,497 posts

222 months

Wednesday 3rd March 2021
quotequote all
Oddly, after having nothing since opening the account in July, I've had a prize every month for the past 3 months.

£50 this month, £25 in Feb and £25 in Jan.

Currently have just over £20k invested; started out by paying in £8500 in July and then paying in £1500 each month since.

Some rough calculations put this at about the equivalent of a 1% AER, so not spectacular but not terrible either.

The Ferret

1,236 posts

175 months

Wednesday 3rd March 2021
quotequote all
£25 on £10k invested at Xmas, so only been eligible for a couple of draws.

That’ll be it for me, f*** all now for the rest of the year I guarantee it.

PaulWoof

1,684 posts

170 months

Thursday 4th March 2021
quotequote all
How have peoples withdrawal times been for premium bonds?

I need to take funds out to fill out my LISA before final day 05/04.

Would waiting till midnight 31/03 to be in the draw and then withdraw be risking it to get the money back in my account in time?

Ridealong

562 posts

85 months

Thursday 4th March 2021
quotequote all
A single £25 win grumpy

trickywoo

12,959 posts

245 months

Thursday 4th March 2021
quotequote all
PaulWoof said:
How have peoples withdrawal times been for premium bonds?

I need to take funds out to fill out my LISA before final day 05/04.

Would waiting till midnight 31/03 to be in the draw and then withdraw be risking it to get the money back in my account in time?
That’s bang on the Easter weekend. Can’t see it happening myself. They are quoting the results day as 6th April so I can’t see a transfer happening in time.

doogle83

788 posts

162 months

Thursday 4th March 2021
quotequote all
I put a withdrawal in on Tuesday morning, the money has just turned up in my account today.

The_Doc

5,509 posts

235 months

Thursday 4th March 2021
quotequote all
PaulWoof said:
How have peoples withdrawal times been for premium bonds?

I need to take funds out to fill out my LISA before final day 05/04.

Would waiting till midnight 31/03 to be in the draw and then withdraw be risking it to get the money back in my account in time?
48 hours to reach my account.
I won on Tuesday's draw (March 2nd) having set the closure for "After the next draw" The money arrived this morning.
2 banking days.

Powerkiter

227 posts

239 months

Thursday 4th March 2021
quotequote all
1x £100 and 3x £25 on £50k this month.

TwigtheWonderkid

46,207 posts

165 months

Thursday 4th March 2021
quotequote all
1 x £25 on a combined £90K. furious

webstercivet

457 posts

89 months

Thursday 4th March 2021
quotequote all
How long for prizes to be paid, normally? My 3x£25 should be coming to my nominated bank account, but no sign of a pending (or actual) transfer in it yet.

trickywoo

12,959 posts

245 months

Thursday 4th March 2021
quotequote all
TwigtheWonderkid said:
1 x £25 on a combined £90K. furious
Try 1 x £25 in the last two months on a combined £100k and slightly below average returns for a 6+ month period leading up to that.

Its just there until the early repayment mortgage penalty goes. Which can't come soon enough.

sh1ggsy

122 posts

72 months

Thursday 4th March 2021
quotequote all
webstercivet said:
How long for prizes to be paid, normally? My 3x£25 should be coming to my nominated bank account, but no sign of a pending (or actual) transfer in it yet.
Normally expect to receive my winnings around the 8th.

webstercivet

457 posts

89 months

Thursday 4th March 2021
quotequote all
sh1ggsy said:
webstercivet said:
How long for prizes to be paid, normally? My 3x£25 should be coming to my nominated bank account, but no sign of a pending (or actual) transfer in it yet.
Normally expect to receive my winnings around the 8th.
Cheers!

sjj84

2,396 posts

234 months

Thursday 4th March 2021
quotequote all
Mine was on the 8th last month too.

Mr Whippy

31,094 posts

256 months

Saturday 6th March 2021
quotequote all
That's good news on the time scales. I was getting worried.

My PB winnings previously went direct to bank so I assumed would take a while.

I topped up my wife's PBs late Feb, so bond winnings can't auto-reinvest, so I swapped the nominated accounts for both our bonds to our NS&I Direct Saver thingy.


It seems NS&I will pre-create a nominated account if you've paid funds from one of those accounts and they don't have any others set up, as it was showing as their Direct Saver paying in number (but first digits starred out), so assumed this was the right account as it said NS&I. Though only when checking do you realise it'd also need a reference to work properly.

However, it seems upon checking after winning big this month, that there were new nominated account selections for our specific Direct Saver account numbers to be able to choose. Ie, NS&I Direct Saver, with our specific account reference number. Bit odd that they're now an option to select (in neither case did I enter actual numbers to create these nominated accounts, only ever set my nominated bank account for mine, and reinvest for my wife's.

Bit confusing if you ask me. I rang NS&I and they seemed to think it'd end up in the right place. Fingers crossed.



I'm not a big fan of their system because once you create a nominated account, it hides a lot of details. Ie, a reference number isn't visible. The full account number isn't visible either. I'm not sure why these would/should be hidden... especially if they may be auto-generated by NS&I and you assume they're correct.

Until you've tested a nominated account actually does pay out to the proper location after being set up, it's hard to then later trust a nominated account (which you can't confirm the payee details on explicitly each time), with £50,000+ type payments!


But thumbs up to NS&I for good customer support. The people on the phone spoke proper English with an English accent and understood my exact issue and clearly were using their brains!

HarrySmash

459 posts

154 months

Monday 8th March 2021
quotequote all
£25 win for March on a £25k holding, makes £75 for the year so far.

UmpaLoompa

1,789 posts

176 months

Monday 8th March 2021
quotequote all
webstercivet said:
sh1ggsy said:
webstercivet said:
How long for prizes to be paid, normally? My 3x£25 should be coming to my nominated bank account, but no sign of a pending (or actual) transfer in it yet.
Normally expect to receive my winnings around the 8th.
Cheers!
Funds received this morning smile

webstercivet

457 posts

89 months

Monday 8th March 2021
quotequote all
UmpaLoompa said:
webstercivet said:
sh1ggsy said:
webstercivet said:
How long for prizes to be paid, normally? My 3x£25 should be coming to my nominated bank account, but no sign of a pending (or actual) transfer in it yet.
Normally expect to receive my winnings around the 8th.
Cheers!
Funds received this morning smile
Same! thumbup

Mr Whippy

31,094 posts

256 months

Monday 8th March 2021
quotequote all
Yay. Now to put the prize into IM PHR fund and stick another 25pc tax free (in an S&S ISA) on top perhaps hehe

steve_bmw

1,590 posts

190 months

Friday 12th March 2021
quotequote all
My grandparents set me up in 1976 with £55 worth of premium bonds, I remember winning £100 in the 80’s but not a bean until 2019 £25 and 2020 another £25.

I have recently switched the account into my name and i’m stocking up as my savings are doing nothing in the bank.

I guess to win £50 in 2 years I must be very lucky with only 55 bonds... hope the luck continues..

I guess £55 was a lot of money in 1976?