Buying Premium Bonds online

Primrose

There must be a way of buying premium bonds online once you're registered for an account but I've gone though the website and can't find any options for doing this anywhere.


Am I missing something? Please don't tell me this is impossible to do having gone through the trouble of registering for an account to make life easier to manage my finances online.


Computer semi illiterate here, so simple advice please !

torbrex

About halfway down this page it asks if you are ready to apply then gives the option of applying online or by phone

Ifts

Primrose wrote: »

Please don't tell me this is impossible to do having gone through the trouble of registering for an account to make life easier to manage my finances online.

Its definitely easier once you register to use NS&I's online service to buy Premium Bonds (or their other products) online.

Once you are logged into your NS&I account (using your surname, NS&I number and entering two characters from your password), on the landing page on the left hand side menu just under 'Move money' click the 'Deposit' link then select 'Premium Bonds' from the drop down menu > enter the amount (£) you want to buy > then on the next page it will ask you to pay using your debit card.

Its best to buy Premium Bonds near the end of the month, as you have to hold them for a whole calender month before they are eligible for the prize draw.
If you buy today you will have to hold them for the rest of June & July before they are entered into the first prize draw (August) so wait till the end of the month to buy, then you only have to hold them for the one month (July) before they are entered into the August prize draw.

Apodemus

Ifts wrote: »

Its definitely easier once you register to use NS&I's online service to buy Premium Bonds (or their other products) online.

Once you are logged into your NS&I account (using your surname, NS&I number and entering two characters from your password), on the landing page on the left hand side menu just under 'Move money' click the 'Deposit' link then select 'Premium Bonds' from the drop down menu > enter the amount (£) you want to buy > then on the next page it will ask you to pay using your debit card.

Its best to buy Premium Bonds near the end of the month, as you have to hold them for a whole calender month before they are eligible for the prize draw.
If you buy today you will have to hold them for the rest of June & July before they are entered into the first prize draw (August) so wait till the end of the month to buy, then you only have to hold them for the one month (July) before they are entered into the August prize draw.

You can also simply push the money by doing a funds transfer on internet banking, using the relevant account numbers. I prefer this as it avoids the need to remember NSI log-in details and the debit card hassle. It only takes seconds and I can do it at month end when pay has come in and I am doing all the other month-end banking stuff. Even doing it on the last banking day of the month results in the bonds being in the next but one draw.

alanq

Apodemus wrote: »

You can also simply push the money by doing a funds transfer on internet banking, using the relevant account numbers. I prefer this as it avoids the need to remember NSI log-in details and the debit card hassle.

Options are listed here.
http://www.nsandi.com/premium-bonds#buying-more-bonds

A possible down side of pushing is that one has to make super sure that one gets the PSB account number in the reference field correct. Even after carefully checking, my first payment was £100 not £10,000.

scubascuba3

I agree I just bought some,it's a pretty poor website,took a while to work out how to buy some.

Worst of all ,your bonds won't go into the draw until August, how rubbish is that. With it all being online there can't be a good excuse for such a long delay. I've complained for the record.

Archi_Bald

scubascuba3 wrote: »

I agree I just bought some,it's a pretty poor website,took a while to work out how to buy some.

Worst of all ,your bonds won't go into the draw until August, how rubbish is that. With it all being online there can't be a good excuse for such a long delay. I've complained for the record.

If you knew that you need to hold the bonds for a full calendar month before they go into the draw, and if this bugs you to the extent that you needed to complain about it, why did you purchase some today? Why not end of next week, or even early in the week after next?

scubascuba3

Buying them 15/6 I didn't dream it would take as long as August, July was possible but August is a joke. It's just as well banks don't start accruing interest 2 months after you deposit, they wouldn't last long

Archi_Bald

You shouldn't compare PBs with savings accounts as they are anything but savings accounts.

Other than that, the PB T&Cs are pretty clear about the rules for entering the draw, aren't they?

scubascuba3

Let Martin Lewis know

noh

scubascuba3 wrote: »

Let Martin Lewis know

He already know because he has read the T+Cs

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

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