Premium Bonds Article Discussion Area

shanew4874

Ok, thank you for confirming. No significant change is good news then.

eskbanker

shanew4874 said:

Ok, thank you for confirming. No significant change is good news then.

Personally I don't see it as either good news or bad news, and not really news at all to be honest, but out of interest, what appeals to you about it?

shanew4874

It’s just that I saw a few articles yesterday around the theme of “premium bond holders await budget announcement” so thought there could be something significantly detrimental for holders but fortunately from what you state that’s not the case.

shanew4874

Is it correct that you receive a letter for any win that is £10,000 - £100,000? Does the win still show up in your balance in your online account? So if you have a holding of say £13,000 and you win £10,000 then your account will show £23,000 on draw day but you will receive a letter confirming the win a few days later in the post asking how you want to proceed with the £10,000 win as in reinvest in more bonds or have it paid into your bank?

thanks

Swipe

shanew4874 said:

Is it correct that you receive a letter for any win that is £10,000 - £100,000? Does the win still show up in your balance in your online account? So if you have a holding of say £13,000 and you win £10,000 then your account will show £23,000 on draw day but you will receive a letter confirming the win a few days later in the post asking how you want to proceed with the £10,000 win as in reinvest in more bonds or have it paid into your bank?

thanks

I think you manually have to claim any prizes over £1000 now I saw the other day. I'm sure that only used to be case for anything over £5000.

shanew4874

I was just wondering if the bigger wins show up in your account the day that we all check our NS&I accounts or is it the case that you only are made aware of the bigger wins when you receive a letter through the post a few days or a week or so later after that months draw has been made?

eskbanker

Swipe said:

shanew4874 said:

Is it correct that you receive a letter for any win that is £10,000 - £100,000? Does the win still show up in your balance in your online account? So if you have a holding of say £13,000 and you win £10,000 then your account will show £23,000 on draw day but you will receive a letter confirming the win a few days later in the post asking how you want to proceed with the £10,000 win as in reinvest in more bonds or have it paid into your bank?

thanks

I think you manually have to claim any prizes over £1000 now I saw the other day. I'm sure that only used to be case for anything over £5000.

The Ts & Cs document still says £5K is the tipping point beyond which they may check if the usual prevailing instruction is to be varied:

If you win £5,000 or more, we may check with you before we pay or reinvest your prize – see nsandi.com/have-i-won for more details or call us.

https://www.nsandi.com/files/asset/pdf/premium-bonds-brochure.pdf

shanew4874 said:

I was just wondering if the bigger wins show up in your account the day that we all check our NS&I accounts or is it the case that you only are made aware of the bigger wins when you receive a letter through the post a few days or a week or so later after that months draw has been made?

The list of larger prizes is published openly online on the first working day of the month, ahead of the lower value ones being shared at the end of that day, but the prizes aren't actually paid into holders' accounts until just over a week later.

Swipe

eskbanker said:

Swipe said:

shanew4874 said:

Is it correct that you receive a letter for any win that is £10,000 - £100,000? Does the win still show up in your balance in your online account? So if you have a holding of say £13,000 and you win £10,000 then your account will show £23,000 on draw day but you will receive a letter confirming the win a few days later in the post asking how you want to proceed with the £10,000 win as in reinvest in more bonds or have it paid into your bank?

thanks

I think you manually have to claim any prizes over £1000 now I saw the other day. I'm sure that only used to be case for anything over £5000.

The Ts & Cs document still says £5K is the tipping point beyond which they may check if the usual prevailing instruction is to be varied:

If you win £5,000 or more, we may check with you before we pay or reinvest your prize – see nsandi.com/have-i-won for more details or call us.

https://www.nsandi.com/files/asset/pdf/premium-bonds-brochure.pdf

shanew4874 said:

I was just wondering if the bigger wins show up in your account the day that we all check our NS&I accounts or is it the case that you only are made aware of the bigger wins when you receive a letter through the post a few days or a week or so later after that months draw has been made?

The list of larger prizes is published openly online on the first working day of the month, ahead of the lower value ones being shared at the end of that day, but the prizes aren't actually paid into holders' accounts until just over a week later.

From the prize checker:

shanew4874

Ok, thank you for confirming. Much appreciated.

eskbanker

Swipe said:

eskbanker said:

Swipe said:

shanew4874 said:

Is it correct that you receive a letter for any win that is £10,000 - £100,000? Does the win still show up in your balance in your online account? So if you have a holding of say £13,000 and you win £10,000 then your account will show £23,000 on draw day but you will receive a letter confirming the win a few days later in the post asking how you want to proceed with the £10,000 win as in reinvest in more bonds or have it paid into your bank?

thanks

I think you manually have to claim any prizes over £1000 now I saw the other day. I'm sure that only used to be case for anything over £5000.

The Ts & Cs document still says £5K is the tipping point beyond which they may check if the usual prevailing instruction is to be varied:

If you win £5,000 or more, we may check with you before we pay or reinvest your prize – see nsandi.com/have-i-won for more details or call us.

https://www.nsandi.com/files/asset/pdf/premium-bonds-brochure.pdf

From the prize checker:

Yes, up to and including £1K is paid according to nominated preference, but £5K and upwards, i.e. the prizes deemed to be in the higher band, may entail that being overridden - I can't see any sign of that having changed?