Premium Bonds Article Discussion Area

asykes

Interesting and factual article.

It missed one of NS&I's best selling points though. First lets revisit the best buy savings accounts the article compares PB's to. If only this was one account. But it isn't. It's constantly changing. So if you want the 'best account' with that top rate you need to be constantly monitoring rates and changing accounts literally every few months or so.

This is not only time consuming but also potentially costly. I've read untold horror stories about chart topping accounts and horrendous customer service on account opening due to the relevant institution being a 'victim of their own success'. Cheques mislaid, accounts not opened, ID docs going missing, money left in limbo earning nothing, interest not paid, wrong account being opened etc. All costly and time consuming. This is a cost to the saver and effectively reduces that headline grabbing interest rate. By how much I dont know but it cannot be ignored. If everything goes smoothly you're ok but if you have to change accounts every few months to keep getting the best rate, you're luck will run out sooner or later. And then there is the issue of the bomus expiring and not being on the ball to switch to another account (more of the same all over again).

In comparison, I've used PB's and could not fault the admin. Buying, prizes, selling - all done with the absolute minimum of fuss and no mess ups. I'm sure there are mistakes but I read about mistakes made with savings accounts all the time in the papers but never read one about maladministration with PB's.

I'm sorry, but you have to take that into account.

shrewsaver

While going through a drawer today I found a bond of £10 that was bought for me in 1985, in ringing them up I found out there are some more bonds under that holders number which is different to my current one when I started putting money in 2005.

syco1

It is really down to luck - my wife and I have £13,000 PB each - I average the prize a month - seven £25 prizes showing in the past seven months.
My wife has had one £25 prize in that time.... and it was a similar story for the previous 6 months. Certainly wish I had put my National Lottery donations into Premium Bonds.
The only slight problem was that they once sent someone else's premium bonds to my address - but apparently he had forgotten where he lived :eek:

dorothea

I have a premium bond which was bought in 1960 and has never won. What is the record for the oldest non-winning poremium bond?

hethmar

I remember buying a tenners worth in 1969 when we had just got engaged. It seemed a large amount of money then and we were pretty sure we would win something towards the wedding - LOL, those ten have never won anything at all.

freddy27

I have £30000 PB's for the last 4 years, total return is £3150.00. Now wether that is better than an ISA, I do not mind, the enjoyment comes each month when I check any returns.
If NIL, I really do not bother, I still have my lump sum, which is more than IF I had played the lottery. I usually play £5 on the lottery most weeks, at least 4 out of 5, and have not won a single penny for 3 years. That is at least £600 down the drain, I do know which I prefer. Horses Dogs or even racing pigeons are even more uncertain winners. Think I'll stick to PB's, as I have just talked myself out of playing the lottery.

OnlyMe_08

If I invested in some bonds say this Monday / Tuesday, when will my first draw be?

EDIT - found the answer, but if I wanted to invest from 1st August (to be eligible for the September draw), when is the latest I should apply?

Ifts

OnlyMe_08 wrote: »

if I wanted to invest from 1st August (to be eligible for the September draw), when is the latest I should apply?

You should buy them before the end of July and hold them for one whole month (in this case August) so they will be eligible for the September draw.
If you buy from 1st August, you will have to hold them for one clear month (September) and they will be eligible for the October Draw.

I usually buy them on the last day or two of the month on-line or over the phone (0500007007 / 01253832007 available every day from 7am till midnight) using my debit card, the payment is debited from account after 3/4 days.
This month for example you could purchase them up until midnight on the last day of the month (Sat 31st July) on-line or over the phone using your debit card and that will count as your purchase date, you would have to hold them for one whole month (August) and they will be eligible for the September draw.

JohnT102

My mum bought me 2 bonds for my birthday over 50+ years ago. They got "lost" and came to light a couple of years ago. Briefly I contacted NS&I who told me that they had no record of any investment in my name and that the bonds had been issued to someone else! Does anyone else have the same experience or can anyone help. I am devastated!

theinbetweener_2

I personally love the thrill of logging into premium bonds every month to see if i've won..hoping for a big win in the next few days as usual! also love the different views of people in regards to them, its on a parallel with contestants of 'deal or no deal'...to some its just luck, some, against logic, insist there is a system to win!
Anyway, for those that have a small holding and have lost hope. just look at the below winners i took from the july 2010 winners list. You never know when you might win!

July 2010 winners
£25,000, , 67VZ689374, total holding £200, , Devon, winning bond value £100, , Oct-99
£10,000, , 14SK600844, total holding £100, , Bristol, winning bond £100, , Mar-85
£5,000, , 30VZ696189, total holding £101, , Overseas, winning bond £100, , Nov-94
£1000, , 3GK070977, total holding £20, , Northern Ireland, winning bond £20, , Oct-87
£1000, , 6BZ055564, total holding £66, , Clwyd, winning bond £2, , May-74
£1000, , 23VK164895, total holding £158, , Staffordshire, winning bond £100, , Feb-81
£1000, , 12PL628854, total holding £54, , Greater Manchester, winning bond £50, , Jul-77
£1000, , 17VW497820, total holding £250, , Bromley, winning bond £100, , Mar-78
£1000, , 4QS134893, total holding £55, , South Glamorgan, winning bond £50, , Feb-66