Premium Bonds Article Discussion Area

Aegis

seven-day-weekend wrote: »

We don't do any sort of lottery, for us this is a little gamble where we don't lose all our stake money.

Please please please don't make the mistake of thinking that you don't lose your stake. You do. Unless you win, you lose your entire stake, which is the interest you would be earning on the amount deposited. 3.8% tax free equates to £114 each year, which is more than you'd spend if you bought 2 lines of Lottery tickets each week. Admittedly the chances of getting a lower-level prize in Premium Bonds are higher than those of the Lottery, but the odds of winning big are actually much better on the Lottery...

setantae

I've got a couple of hundred pounds' worth of PBs but I don't have the certificate and don't know my account number. Is there some way for me to cash them in?

isofa

You need to contact NS&I and tell them of your situation, if you still live at the same address when you purchased them, I'm sure they can sort it out, if you've moved, have no proof of purchase, no certificate and no holders number, and think you'll find it much harder!

spenner4

Just seen poster in local Post Office. In June there will be 5 £1m prizes to celebrate 50 years of ERNIE's prizes. You have to buy Bonds by 30 April to be in the draw. I was thinking of selling mine but will wait until July!

Jonbvn

spenner4 wrote: »

Just seen poster in local Post Office. In June there will be 5 £1m prizes to celebrate 50 years of ERNIE's prizes. You have to buy Bonds by 30 April to be in the draw. I was thinking of selling mine but will wait until July!

I think that the poster is out of date. The 50th anniversary occurred in June 2007.

The_Bleurk

Correct Jon.

spenner4

Thanks for that, I will go along to the Post Office and withdraw ! Talk about behind the times !!

JontyII

I was very pleased to read this informative article. I've never done the lottery as I know the chances of winning are minimal, and yet I've had money 'invested' in Premium Bonds for years, with a very poor return compared with ISA's etc.

I feel a bit of a fool, but have learned my lesson and am cashing them in and will buy a mini ISA now and another in April. So thank you for your advice.

Aegis

JontyII wrote: »

I was very pleased to read this informative article. I've never done the lottery as I know the chances of winning are minimal, and yet I've had money 'invested' in Premium Bonds for years, with a very poor return compared with ISA's etc.

I feel a bit of a fool, but have learned my lesson and am cashing them in and will buy a mini ISA now and another in April. So thank you for your advice.

Don't feel like a fool. NS&I and society in general has been referring to premium Bonds as an amazing investment for so many years that it's difficult to break that perception of them. Remember this definition of a fool (not sure whose this is, or if I'm quoting it correctly, but hey!):

"A fool is someone who does the same thing over and over again and expects different results"

By changing your approach to a new one with better odds, you're proving yourself to be anything but a fool according to that definition.

ukchriss

:j
I used to buy £10 lottery tickets a week and in 10 years won 2 x £10

Since Oct. 2007 I now buy £50 PB a month via dd, I look on them as my little gamble and I can always get my money back.
I have already had one £50 win:beer: