Premium Bonds Article Discussion Area

Credit_Jake

I know some people are very lucky, I just hope I have a big-ish 'win' soon as I have never 'won' more than £25.

brightonalex

I understand that if you have 30k to invest it doesn't make sense to invest it in Premium bonds, but I don't understand why its a problem for small investments. I have £100 a month to save, by the end of the year thats £1000, and I have earnt such a small amount of interest in a savings account not to even bother. If I put it in to PBs I can just forget about it, and every so often I might win some money. Anecdotally over a year I won about £150 with an investment of £500. My friend was livid because she put 30k into PBs and after 3 years she had won nothing. She says I won "her money". :money:

thor

brightonalex wrote: »

I understand that if you have 30k to invest it doesn't make sense to invest it in Premium bonds, but I don't understand why its a problem for small investments. I have £100 a month to save, by the end of the year thats £1000, and I have earnt such a small amount of interest in a savings account not to even bother. If I put it in to PBs I can just forget about it, and every so often I might win some money. Anecdotally over a year I won about £150 with an investment of £500. My friend was livid because she put 30k into PBs and after 3 years she had won nothing. She says I won "her money". :money:

They must have really cut back the return if someone with 30K could not manage a single win in 3 years.

Looter

The pb checker on Nsandi's website has not been updated yet, but I can see my re-invested prizes when I log in (I've got a Direct ISA and I can see my pb's when I log in). Only difference is I can't see which bonds have won the prizes.

jeffdavies

Since the £25 prizes were introduced, I have won a few BUT I no longer receive more than that amount and in the last 3 months, no wins at all. What has happened to my 'usual' £50 wins? Also, I think that the way the draws are conducted needs a complete revamp. "As numbers aren’t entered into or stored in ERNIE, there’s no way that old Bonds can be left out of the draw. The winning numbers are generated randomly and then matched against eligible Bond numbers afterwards"

I think that all elegible bond numbers should be programmed individually into Ernie because then, only those numbers will be drawn and not computer generated numbers which no doubt don't always match our Bonds, hence no winning numbers.

If this was done, then, it would be like drawing raffle tickets from a box.

Do the £1 million prizes actually get paid out. I have never ever read about in the media or heard of the identity of any of these lucky winners. Do they really exist!!

Stompa

jeffdavies wrote: »

Since the £25 prizes were introduced, I have won a few BUT I no longer receive more than that amount and in the last 3 months, no wins at all. What has happened to my 'usual' £50 wins?

There are far fewer £50 prizes than £25 ones. Around one £50 for every 55 £25 prizes.

http://www.nsandi.com/products/pb/rates

jeffdavies wrote: »

Also, I think that the way the draws are conducted needs a complete revamp. "As numbers aren’t entered into or stored in ERNIE, there’s no way that old Bonds can be left out of the draw. The winning numbers are generated randomly and then matched against eligible Bond numbers afterwards"

I think that all elegible bond numbers should be programmed individually into Ernie because then, only those numbers will be drawn and not computer generated numbers which no doubt don't always match our Bonds, hence no winning numbers.

I'm not sure I see the difference?

Paul_Herring

jeffdavies wrote: »

I think that all elegible bond numbers should be programmed individually into Ernie because then, only those numbers will be drawn and not computer generated numbers which no doubt don't always match our Bonds, hence no winning numbers.

If this was done, then, it would be like drawing raffle tickets from a box.

There's no practical difference between the end result of the two methods. All you're doing is excluding invalid numbers at a slightly different (if it'd be different at all) place in the whole process.

Somewhere along the way, the invalid numbers will need to be excluded.

They simply (probably as a result of how it used to be done in 'ye olden days' when all the computer they had back then was capable of (without having it the size of 2 buildings) was generating random numbers,) do it 'manually' after the numbers have been selected and 'seen.'

misselvis

Recieved my new PB statement but don't think I will be shredding my old certificates any time soon. Am liking the fact that the account can be managed online but I put in a request for a log in over four weeks ago and no response so will have to chase that up. I am lilking the new certificate here's hoping my numbers come up.

freddy27

I was left a sum of money by my ancient Aunt just over four years ago. Taking into consideration that Gordon Brown was throwing away the Countries gold reserves at below value, and building hospitals and schools on the never never, that WILL have to be paid for by my Grand Children and Great Grand children. I decided that there was no future in leaving it in banks or building societies with interest rates at .5% and less. I put £30,000 into PB's, My winnings over 4 years have been in total £3150 and very happy I am with that return. Not that it is important to me, I enjoy going on line and seeing IF I have won. If not who cares, certainly not me! At least I know and unlike ISA's or any other saving device, it does not take a whole year to find out if you have or have not done well. Gamble or not, my money is safe. If I'd put it into the lottery, by now it would be ALL gone.

Ifts

You could have got double that amount in a savings account by now from where interest rates were 3/4 years ago, no gamble and even received monthly interest rather than having to wait till the end of the year.

But as you say you are happy with the return you got from your PB's, so I suppose thats what counts.