Anyone cashed in any Premium bonds recently or know the process?

Lemoncurd

I've had a look at the NSandI website and it implies that you just put it in writing that you would like to cash in your bonds. The money will then be transfered to the account you specify within a few days.
Does this sound right? I always thought that you had to give a months notice on Premium Bonds and that you had to return your bond certificates but I can't see anything to indicate this.
I need the funds to go towards a house purchase so will need them by a set date but would ideally like to leave the bonds active as long as possible so that they can be entered into more draws.

Thanks!

paulc1008

Lemoncurd wrote:

I've had a look at the NSandI website and it implies that you just put it in writing that you would like to cash in your bonds. The money will then be transfered to the account you specify within a few days.
Does this sound right? I always thought that you had to give a months notice on Premium Bonds and that you had to return your bond certificates but I can't see anything to indicate this.
I need the funds to go towards a house purchase so will need them by a set date but would ideally like to leave the bonds active as long as possible so that they can be entered into more draws.

Thanks!

I think your entry on the website just gets them to post you the form you need to complete in order to cash in the bonds. You're quite right - you do have to send the bond certificates in with the completed form.

They will pay you directly into a bank account, or send a warrant - they say this will normally be within 8 working days from receiving your form. You can opt to delay repayment until after one more months draw - but not longer.

So - best to get the form sent to you now, then send it in up to a month before when you actually want the money released.

jimclark1967

I cashed in some bonds last year, got the repayment form from the Post Office, sent it off along with the bond certificates and a covering letter (mid August) asking for repayment after the September 2004 draw.

Cheque arrived in the post on 2nd September :j

Lemoncurd

Thanks both! I didn't come across anything to submit on the website, will take another look on there... if not I'll check the Post office website for forms.

calleyw

There is no way to do it on-line as they want the bonds back. You can request the forms on-line. Or go to the PO and get the forms they come in a bright pink envelope.

I cashed some in only a few weeks ago.

It is way quicker to get the money paid in to the bank. We sent ours off on monday and by friday the money was in the bank.


Yours

Calley