Can you set up a weekly Standing order to Premium bonds?

beth3735

Just got my letter with my 1st premium bond in and I want to set up a standing order. The Standing order form they sent me only has the option to put down monthly amount and which date to leave my bank.

Ideally I would prefer to set up a weekly standing order from my banks to my Premium bonds, but im not sure if NS&i will allow it.

Has anyone else done this without a problem.

If its a problem, I shouldn't have an issue with paying via debit card each week would I?

Thanks

jimjames

If you have internet banking you can setup standing orders on any frequency you want.

NS&I might only buy on a certain day per month so your money would be sitting there not getting any return in the meantime.

Is this your only form of saving or investments? If so you may want to consider your other options before filling everything into premium bonds.

beth3735

Tbh its not a huge savings thing really. I will have 5 months worth of my monthly work wage in my ISA 'just in case' But this money is going to be withdrawn around Dec 2014, and maybe some by April 2014. So not a long term savings at the moment.

Once this big holiday is done and dusted with I will look properly into where to put my money

Thank you. I will set it up to start soon!