Premium Bonds - When's the draw?

ianianian_2

Quick question.... when exactly is the premium bonds draw?

I'm cashing my bonds in and thought i may as well wait until after the draw until i do so. Only problem is i can't find when the actual draw is?

thanks

ian

catwoman150

Sorry I don't know what date the draw takes place, but on the 3rd of each month there is a list on their website of who has won the big prizes and if you have won then you normally get the cheque by the 15th of the month.

If you go to their website and you can check by putting in your holders number on about the 5th and it should tell you if you have won anything or not. Then you could cash them in. It is quick and easy to do.

chesky369

If you win the million, you get a visit on the 1st of the month. So it must take place the day before.

Crabman

On the cashing in form there should be a box to tick saying something along the lines of keeping the bonds in situ until after the next draw.

lpgm

The draw takes place on the first working day of the month, when they also publish a list of the top winners down to £5,000. By the third working day you can enter your holder's number and find out if you've won any prize in the draw (down to £50).

barak

lpgm wrote: »

By the third working day you can enter your holder's number and find out if you've won any prize in the draw (down to £50).

I agree that that has been the rule, but recently I've managed to access all prizes before the third working day. Let's see what happens on 1st/2nd September!

lpgm

barak wrote: »

I agree that that has been the rule, but recently I've managed to access all prizes before the third working day. Let's see what happens on 1st/2nd September!

You're absolutely right. (I did say by.)

catwoman150

I think it depends on what day it is and when they update their website.

catwoman150

The website has been updated for sept now. Check to see if you have won.

Dan29

If you win the million, you get a visit on the last day of the previous month, so the draw must take place on the penultimate day of the previous month at the latest.

Source: http://www.nsandi.com/press-room/premiumbonds50/people_personal.jsp

isofa

CallingTime wrote: »

This P B thing seems too good to be true, all this money won every month and people are still on the breadline!! Even the Government can con us, it already has in numerous ways, and millions of British people let them!!!!!! Great Gullible Britain.

I don't really understand your post. PBs are a gamble, where in effect you are gambling the interest (as a stake) you'd earn if you put the money (the holding) away in a savings account. You never lose your holding (and can withdraw it whenever you wish), but if you aren't winning enough to keep up with inflation, you are technically losing out because your stake is being devalued.

There are 61+ million people in the UK, and obviously not everyone holds PBs. You can hardly blame PB for people being on the breadline - that's absolutely ridiculous. I assume you don't blame the lottery for the same issue - which is in effect a tax on the poor (or stupid depending on your point of view )

There a thousands of small prizes every month, and a small amount of "larger prizes", including one of £1m per calendar month. The prize fund details are listed here. (And there are plenty of local newspaper stories of jackpot winners, in response to the people who believe that no one wins big - try Google...) In addition the large winners list is here, showing county and bond number.

Many people with a reasonable holding win small prizes regularly, it's a completely random draw. And no one is forcing you to "invest" in them. It's easy to argue your money would be better off in a high rate savings account, with a guaranteed return, but you are never going to have a chance of winning a few thousand+ are you?

I had a return of around 6% tax free for the last calendar year, which is pretty good and equivalent to 10% for a high rate tax payer. Some are more "lucky", others less.

As long as you understand PBs and don't have them as your only part of a savings/investment portfolio, I can't see the problem.