Premium Bonds Article Discussion Area

Credit_Jake

I cashed mine in a few weeks ago, had pages of bond numbers and thought that it will be a real pain for whoever gets to process my form. My money was in the bank 4 days after posting, I was really surprised.

tell_it_how_it_is

When I used to do it by post, I always received the money about a week later.

If you're not cashing them all in, perhaps consider setting up your account for online access, and then you can do it all through there. Only time I've withdrawn that way I had my money back in 3-4 days.

Otherwise, perhaps pay the few bob for recorded delivery?

Zars

Tomorrow is the big day.. Its been a while since i won anything (even though I've been investing aggressively into PB).. even a £25 win will be nice..

the_matrix

Hi

I bought some old paper premium bonds from a car boot. The old chap said he hadn't "cashed" them in and didn't know what I was talking about. So I took a punt and bought them off him.

They are the old paper premium bonds. It says on them non-transferable. I bought them and asked him for a receipt to prove I had legally purchased them. How do I go about cashing them in? What proof do I need they are mine? Do I send the receipt that I got when I purchased them to prove they are mine? Is there a special form or something or do I send a letter? Do I send originals or photocopies?

I came home and my dad said he bought a few paper premium bonds for me years ago. How do I cash them in today?

Thanks in advance :beer:

Bye

isofa

the_matrix wrote: »

Hi

I bought some old paper premium bonds from a car boot. The old chap said he hadn't "cashed" them in and didn't know what I was talking about. So I took a punt and bought them off him.

If they aren't legally in your name (and obviously they aren't as you bought them from a car boot!), you cant. It's as simple as that, they are still owned by the original owner. They cannot ever be transferred to you, it is completely against the rules/T+Cs of Premium Bonds they are never transferable.

[Slightly different rules for someone who has died, and they move into part of the estate, but only with probate can they be temporarily run in someone else's name, and I believe for only 12 months, and usually only to the late individual's husband or wife - but I may be wrong.]

However, on your other point - if you have some purchased for you from your Dad in your name, then you need your holders number and to contact NS&I to cash them in.
http://www.nsandi.com/savings-premium-bonds

Paul_Herring

isofa wrote: »

Slightly different rules for someone who has died, and they move into part of the estate, but only with probate can they be temporarily run in someone else's name, and I believe for only 12 months, and usually only to the late individual's husband or wife - but I may be wrong.

One year and, if I'm reading this correctly, it goes to the estate.

http://www.nsandi.com/savings-premium-bonds

Eligibility of Bonds for prizes
[...]
12. After a Bond has qualified for its first draw it will be included in each subsequent draw, unless:
[...]
(b) the registered holder has died more than a year before the month for which the draw is held.

Law and jurisdiction
[...]
97. In the event of the death of a Bond holder, the Director reserves the right to make any payment in respect of the Bond in accordance with the law of the place in which the Bond holder resided or, if different, was domiciled at the date of their death.

the_matrix

isofa wrote: »

If they aren't legally in your name (and obviously they aren't as you bought them from a car boot!), you cant. It's as simple as that, they are still owned by the original owner. They cannot ever be transferred to you, it is completely against the rules/T+Cs of Premium Bonds they are never transferable.

Thank you.

But it doesn't say a name on them?

Paul_Herring

the_matrix wrote: »

But it doesn't say a name on them?

I'm sure NSI have their own little database that has the contact details against every valid PB number.

How do you think they know where to send the cheques?

isofa

the_matrix wrote: »

Thank you.

But it doesn't say a name on them?

It'll show the a bond number and a holders number (unless they are very old, in which case maybe just the bond number), the bond number links to a holders number which links to the person who owns them forever - all traceable from NS&I.

You can check if the holder has any unclaimed prizes here by putting in the holders number: http://www.nsandi.com/savings-premium-bonds-have-i-won

2004nsnazir

im 19.just going to open a normal account with nsi.put £100 in and see what happens ifi get any prizes or not.do i have to do anything else.wil i lose my £100 and can i take my money out whenever??