Premium bond information needed
Premium bond information needed
Author
Discussion

blindswelledrat

Original Poster:

25,257 posts

263 months

Monday 30th January 2006
quotequote all
Thinking of buying a few but was confused by something.
I always understood that once purchased you'd automatically recieve any 'winnings'.
However whilst googling I just came across an article about hundreds of thousands of 'unclaimed prizes'.
Do you need to check your tickets each month as this seems like an impossible task?


Edito you know when the draw takes place each month?

>> Edited by blindswelledrat on Monday 30th January 17:01

simpo two

93,014 posts

296 months

Monday 30th January 2006
quotequote all
IIRC you get a cheque in the post.

I suppose unclaimed winnings are uncashed cheques?

m1spw

5,999 posts

256 months

Monday 30th January 2006
quotequote all
Or if you forget to tell them your change of address, and they send the cheques to the wrong person - someone I know did this, phoned them up and they had £500 of unclaimed prizes! lucky barsteward

lois

14,706 posts

283 months

Monday 30th January 2006
quotequote all
I need to dig out all my information. I have no idea if 2 of my changes of adresses were given to them as i was only 3! Either that or I've just never won a penny!

Mrs Cuchillo

805 posts

281 months

Monday 30th January 2006
quotequote all
If you have less than the maximum £30,000 you can opt to have your prizes automatically reinvested until you reach the max, then they start sending you cheques. It's easy to check your numbers - you put them into the checker on the NS&I website and it tells you if you've won that month on the 3rd working day of the month. You only have to put your holder's number in, not the individual bond numbers.

Draw takes place on the 1st of the month - Simon Bates announces the £1million winners at 8am & 9am on the 1st (or 1st working day) of the month on Classic FM

>> Edited by Mrs Cuchillo on Monday 30th January 18:06

>> Edited by Mrs Cuchillo on Monday 30th January 18:07

gorvid

22,371 posts

256 months

Monday 30th January 2006
quotequote all
If you buy them now you will have any winnings sent to you each month - whether or not you 'claim' them . Unclaimed prizes are the ones where the winners have not been tracked down.

Also, it is easy to check each month online at :


www.nsandi.com

lois

14,706 posts

283 months

Monday 30th January 2006
quotequote all
Is there a time limit on them if you have moved house and couldn't claim?

princeperch

8,299 posts

278 months

Monday 30th January 2006
quotequote all
anonymous said:
[redacted]



I dont believe so.

Even so, im getting a bit pissed off with these premium bonds. Had a grand stuck in there for well over a year and not a sausage..

adetuono

7,626 posts

258 months

Tuesday 31st January 2006
quotequote all
princeperch said:
anonymous said:
[redacted]



I dont believe so.

Even so, im getting a bit pissed off with these premium bonds. Had a grand stuck in there for well over a year and not a sausage..


Your odds of a £50 win with £1000 of bonds is 1:25, so statistically, you're due one every couple of years. Get the full £30,000 and on average you'd get one a month. Works for me. In my first year I got £850.

ThatPhilBrettGuy

11,810 posts

271 months

Tuesday 31st January 2006
quotequote all
[quote=adetuono}Get the full £30,000 and on average you'd get one a month. Works for me. In my first year I got £850.[/quote]
And if you'd put the money in an on-line high interest account, even paying tax you'd have got £1050.

Carrera2

8,352 posts

263 months

Tuesday 31st January 2006
quotequote all
ThatPhilBrettGuy said:
[quote=adetuono}Get the full £30,000 and on average you'd get one a month. Works for me. In my first year I got £850.

And if you'd put the money in an on-line high interest account, even paying tax you'd have got £1050.[/quote]

Ah but no chance of getting a biggy though

ThatPhilBrettGuy

11,810 posts

271 months

Tuesday 31st January 2006
quotequote all
Carrera2 said:
Ah but no chance of getting a biggy though

True. But I don't need that as I'm winning the £125ml euro thingy

When I last had some bonds (£20K's worth, the max at that time) I got about 1.2% out of them. In the very long run I'm sure you do get their quoted 3% (or get very lucky with the big prizes)...but you could get nothing.

adetuono

7,626 posts

258 months

Tuesday 31st January 2006
quotequote all
Carrera2 said:
ThatPhilBrettGuy said:
[quote=adetuono}Get the full £30,000 and on average you'd get one a month. Works for me. In my first year I got £850.

And if you'd put the money in an on-line high interest account, even paying tax you'd have got £1050.


Ah but no chance of getting a biggy though [/quote]

What he said ^^^^^, plus no quick access to your money if you need it, and at 40% tax you'd still end up with less than £850.

scared but happy

24,147 posts

260 months

Tuesday 31st January 2006
quotequote all
Sorry *thread hijack* Another question. Whats the smallest amout I can buy? and is that it? no more to pay...

princeperch

8,299 posts

278 months

Tuesday 31st January 2006
quotequote all
scared but happy said:
Sorry *thread hijack* Another question. Whats the smallest amout I can buy? and is that it? no more to pay...


min investment is 100 sheets. After that, you can invest up to your 30k limit, but any investments have to be in fixed increments of £10, i.e 110, 120, 290, not 117 or 118.50 etc