Premium Bonds Overpayment

ffacoffipawb

YorkshireBoy wrote:

Not exactly what you're asking for Al, but an interesting read none the less...

http://news.bbc.co.uk/1/hi/world/europe/1668687.stm

And what other people thought ........

http://news.bbc.co.uk/1/hi/talking_point/1670047.stm

james3333

i would just play dumb and if asked....
i would say....
"oooh, sorry, i thought i had a win on the premium bonds.... here... have it back ( minus the interest you've earned on it whilst in your high interest off shore account!"
:cool:

meanmachine_2

I'd put the money on one of those high interest tax free bonds issued by that ALan Sugar company.

Ooh, what's it called...NS&I.

No seriously. Save the money in an NS&I account if and until they ask for it back. Then the money will never have left NS&I.

By the way, how much was it? More than £10,000 or less than?

sihart

Well I've written to NS&I to ask them what I should do - it would have been nice to keep it but I realise it's not like finding a fiver on a park bench so I shall do the honest thing.
From some of the moral high-ground posts on here the scaremongery has finaly got to me!
In the meantime I've put the money back into NS&I as an investment - if they want to reclaim it it's already there
Everyone happy?

multimillionaire

Did you ever have your prize winnings automatically reinvested for future draws ? Perhaps you have rightfully won the amount in a draw, but the certificate they should have sent to you was lost in the post and so you were none the wiser regarding the winning and so,...it seems like a overpayment to you...

25+ posts - and nobody thought of this possibility....very odd!

Seriously - what is the overpayment figure we are talking about here ? There is no harm mentioning it on a forum ??

Rather than writing a letter, you should have called them up first to establish what they perceived the amount should have been and how they came to the figure you received....

Did you ever request to receive a list of the current bonds that you held prior to cashing them in to cross check them against the bond certificates that you held ? I personally routinely do this just to check everything is in order with my holdings...

Ultimately - if it is not yours......be very ready to return the sum.

Keep us updated!

pickle

multimillionaire wrote:

25+ posts - and nobody thought of this possibility....very odd!

Not really - we never win very much so it defies our imagination that somebody might actually win something substantial!!

Did you keep a photocopy of the bonds? - you could check on the on-line facility for checking prizes.

sihart

it's only £1,000.
i've done my bit and asked them whether it is winnings, so if it needs to be repaid the money is there in their coffers...
I only held two bonds of £1,000 each - and cashed them both at the same time.
In fact when they were arranging repayment they made an administrative error so only paid one of them, and I had to call them up and ensure they did pay the other £1,000, which is when they (on separate occasions) paid a further £2,000 into my account.

multimillionaire

Lol !

Well - if you were aware of the initial error - its a pretty good indicator of what possibly could have happened when the extra £1k turned up later and perhaps would have been wise to fess up sooner rather than several weeks later - risky tactic waiting IMHO. Using the money for an additional NS&I product (so the money is in their coffers effectively!) may not have been a super smart move in all honesty as this can be seen trying to do the right thing, but also sneakily benefitting and covering your tracks !

Astonishing their checks and measures let this happen though - always though PB's were managed by a pretty tight ship!

How long has it been since you wrote to them ?

MM

edda

multimillionaire wrote:

Lol !

Astonishing their checks and measures let this happen though - always though PB's were managed by a pretty tight ship!

MM

You obviously didn't hear about the problem 2 years ago when they took twice the amount ordered over the phone from several bank accounts?
However, NS&I were very honest and even corrected the amount in my bank account before I spotted it!

After all they're only human .... oh, but Ernie isn't - is he (or should we say he/she/it in these PC days?)

Mikeyorks

edda wrote:

After all they're only human .... oh, but Ernie isn't - is he (or should we say he/she/it in these PC days?)

Yes - 'he' is a PC.;) But can, allegedly, multi-task ..... so must have had a sex change?:rolleyes:

The history of ERNIE
ERNIE made his public debut in 1957, when ‘he’ was the size of a van. In 1972, a faster ERNIE 2 was launched, capable of producing more Premium Bond numbers. He was decommissioned in 1988 and ERNIE 3, the size of a personal computer, took over. But by 2004 an increase in the volume of Premium Bond numbers meant a new machine was needed. We now have ERNIE 4.