Premium Bonds Article Discussion Area

eddyinfreehold

Initially you need to supply your premium bond holder number, then you can ask:

"Alexa Ask premium bonds, have I won?"

Is that wise? I don't think I would give my holder number or any password to a third party....

zolablue25

eddyinfreehold wrote: »

Initially you need to supply your premium bond holder number, then you can ask:

"Alexa Ask premium bonds, have I won?"

Is that wise? I don't think I would give my holder number or any password to a third party....

No need to give a password to check if you have won

yorkiebar

That's right, no password required. You do need to supply your holder number though, if you're uncomfortable with that then fair enough, that's an understandable point of view.

beaware2018

I am unable to cash out ANY of my Premium Bonds (this is to my NOMINATED bank account, where they do send winnings - so no problem with my bank account). EVERYTHING is done correctly online but it then tells me to phone them - I did and they said they would cash out for me on the phone, then told me it is not working. This was 4 days ago and still the same situation. They told me my Premium Bonds are 100% safe with them, but I pointed out that what use is that if I cannot get my cash out when I need it (plus it takes about 8 days from cashing out to get the money into a bank account whereas banks can transfer money INSTANTLY.) I am wondering if the UK is going broke and is trying to delay paying out (as Premium Bonds cash is held by the Treasury). With such low chances of winning and my experience of not being able to cash out, is it time to ABANDON Premium Bonds altogether?

Kim_13

I always prefer to cash in via post. Here is a link to the form, if you wish to try that way: https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://www.nsandi.com/files/published_files/asset/pdf/premium-bonds-cash-in-form.pdf&ved=2ahUKEwj9-uyT3-vYAhXoJcAKHSQAD3kQFjABegQIEBAB&usg=AOvVaw362mNoMVkb-KA7Xy3TGeqA

I've always found their online service a mess, as you can't specify which bonds you want to cash in and they always take the oldest first. Also they have that many rules on the password that I end up having to go through the forgotten password routine every time.

MrMoore

I have the max £50,000 in the premium bonds and have won zilch. If I had put the £50,000 in a loyalty ISA with the Nationwide at 1.4% I would have won £58.33 a month leaving me to squander it on the Lottery as and when I saw fit. In June I'm predicting an interest rate rise so if I'm not a millionaire by then I'm taking the lot out. Sorry government but I have to think of me sometimes although I know you need the money to put some tarmac in a few pot holes here and there. Or I think I stand a better chance gambling on the currency markets buying Euros before they go down in value after my predicted June interest rate rise.

MrMoore

beaware2018 wrote: »

I am wondering if the UK is going broke and is trying to delay paying out (as Premium Bonds cash is held by the Treasury).

UK is broke and it can't be labours fault as they haven't been in power for donkeys years. Otherwise people wouldn't be left waiting for a hospital bed in agony as the NHS can only afford to treat cancer patients and pots holes are far to expensive to be repaired these days too. I would chuck a bag of cement in our worst one on the road but I expect I would be fined.

eskbanker

MrMoore wrote: »

I have the max £50,000 in the premium bonds and have won zilch.

You've obviously been unlucky then - it's only a 13% chance of not winning anything in a given month from a £50K holding, and a tiny 1 in 456 chance of not winning anything over three months.

MrMoore wrote: »

If I had put the £50,000 in a loyalty ISA with the Nationwide at 1.4% I would have won £58.33 a month leaving me to squander it on the Lottery as and when I saw fit.

It would have taken you over two years to get £50K into an ISA though, given annual allowances.

MrMoore wrote: »

In June I'm predicting an interest rate rise so if I'm not a millionaire by then I'm taking the lot out. Sorry government but I have to think of me sometimes

I'm sure the government will be distraught at the loss of 0.000068% of their PB pot and will be making emergency financial contingency plans as we speak....

MrMoore wrote: »

I think I stand a better chance gambling on the currency markets buying Euros before they go down in value after my predicted June interest rate rise

Just as well you have a unique insight into currency futures that nobody else in the market has then!

teddysmum

This month neither of us won and that has not happened before in the last 12 months. £150 between us last week and we are averaging over the quoted interest rate.

kidmugsy

teddysmum wrote: »

This month neither of us won and that has not happened before in the last 12 months. £150 between us last week and we are averaging over the quoted interest rate.

You may have noticed that Premium Bond threads attract all sorts of nutters, united in their conviction that it's all a fraud, and equally united in their ignorance of probability calculations. Thank you for your voice of sanity.