Are Premium Bonds a scam?

Ifts

torbrex wrote: »

this is a 3 years old thread !!!!!!, are newbies fitted with blinkers so that they cant see the date of the thread they are dragging up?

And your point is? If the OP's question is still relevant to the new poster, then whats the problem with posting on an existing thread, better than starting a new thread.

Talking about blinkers......

Jake'sGran

bjorn_again wrote: »

Premium Bonds is another "under the matress" job.
What is tax free on zero return? Had £10k in PMs for more than 4 years now and probably "won" £300 in fifties. I feel that they may well be a scam.

I bought £10k worth about 12 years ago and have never won a big prize but I do regularly win the smallers prizes, a lot of £50s and now £25s. In the last year I have won a small prize each month except one and the total is now £15100.

wellused

I wouldn't describe it as a "tax on fools", surely that is the National lottery? We started buying Bonds as an alternative to the lottery, 4 players invest £25 each/ month giving a chance of a share of £1,000,000, after 12 months each person has the option to cash in the bonds say at Christmas giving them around £250 or so. It's like joining a Christmas club but with the chance of winning as well.

jimjames

rtbcomp wrote: »

I also heard that PSBs were used to pay spies, but that was from a bloke who thought MI5 was bugging his telephone - he could hear them drinking tea in the background :rotfl:

Of course they are being used to pay spies, the same as any other government finance! All our taxes go to fund MI6 as well as schools and hospitals.

MoneySavingUser

Me and my parents hold about £20k each. The most ever won was by me a whole £500!

usually get a few £25's through the door used to get £50's but since the lowest prize was reduced it's just £25 now

pqrdef

jimjames wrote: »

Of course they are being used to pay spies, the same as any other government finance! All our taxes go to fund MI6 as well as schools and hospitals.

But Premium Bond prizes would be a brilliant way of slipping money to informers. They'd get not just the money but a good excuse for having it, so they could bank it and spend it instead of having to hide it.

This idea is so good, I might even decide to believe it.

atush

Please. The way each govt follows after the other trashing them, don't you think that if they were manipulating Ernie, the truth would come out?

Isn't all the hidden garbage about Libya comong out now???

I really can't stand conspiracy theorists lol.