Premium Bonds Article Discussion Area

Krissy306

Still hasnt won:(

robstok_2000

I have the maximum holdings,and found since they introduced the £25 prize,I have won less,not had a £50 prize since it was introduced or anything above that.This is the third month in a row that i have won nothing at all.
Not very good for a £30,000 investment.Seriously considering cashing in now,would be better off back in the Bank.

VinceS89

If I purchase some bonds on the 30th/31st of this month, does this mean I only have to wait until December until they are entered into the draw?

Paul_Herring

VinceS89 wrote: »

If I purchase some bonds on the 30th/31st of this month, does this mean I only have to wait until December until they are entered into the draw?

Possibly. Assuming they receive payment for those bonds actually on the 30/31. Bear in mind that those days are Sat/Sun this month.

I'd go for slightly earlier, to avoid any confusion. Say the 25th (Monday)

anandi_2

There are other ways of looking at premium bonds.

Firstly, the minimum you hold should produce expected prizes amounting to the minimum £25 prize. Anything less than that and you could win nothing, your notional interest going to others. However you would still have the equivalent of free entries in the Lottery every month for as long as you held the bonds.

My other thought is that of holding large blocks. If you take it that there is a liklihood of there being a number drawn within a range every month, then if your bonds cover that range then you will win.

If you want to keep ready access to your funds and would therefore otherwise keep your money in a low-interest account then Premium Bonds could be for you until you are ready to put your funds more permanent. Don't forget that you can automatically re-invest your funds if you wish and these re-invested monies can produce prizes themselves.

pqrdef

VinceS89 wrote: »

If I purchase some bonds on the 30th/31st of this month, does this mean I only have to wait until December until they are entered into the draw?

For online applications by debit card, I've got email acknowledgements dated Saturday and Sunday, around 9 am, for applications made the previous evening.

The emails confirm that the date of the email is the operative date of the investment, provided that the application is successful.

Aegis

anandi wrote: »

There are other ways of looking at premium bonds.

Firstly, the minimum you hold should produce expected prizes amounting to the minimum £25 prize. Anything less than that and you could win nothing, your notional interest going to others. However you would still have the equivalent of free entries in the Lottery every month for as long as you held the bonds.

Those entries aren't free, you pay your interest each month to participate. Also, you can still win nothing even if you hold an amount that should yield £25 or more going by the expected returns. As it's a random process, it's fairly likely that you'd fail to get the minimum prize several times a year.

My other thought is that of holding large blocks. If you take it that there is a liklihood of there being a number drawn within a range every month, then if your bonds cover that range then you will win.

This simply isn't true. Whether you hold a block of 5000 bonds or 5000 scattered among the whole list, your probability of holding a winning bond is identical.

welshmoneylover

£25 for me this month :j

Hope its a bigger win for next month :j:beer::j

Red_Ant

I don't know if this was discussed earlier in this thread, but I've noticed that the winning cheques are taking longer and longer to arrive. At one point they'd reliably arrive on 13th of the month, give or take a day - but now it seems to be a week later than that - e.g. I'm still waiting for my October winnings on 20th October.

I guess the interest on the money that is taking longer to leave their account represents a nice earner for NS&I.

welshmoneylover

Red_Ant wrote: »

I don't know if this was discussed earlier in this thread, but I've noticed that the winning cheques are taking longer and longer to arrive. At one point they'd reliably arrive on 13th of the month, give or take a day - but now it seems to be a week later than that - e.g. I'm still waiting for my October winnings on 20th October.

I guess the interest on the money that is taking longer to leave their account represents a nice earner for NS&I.

reinvested wins usually arrive quicker :j