Premium Bonds Question

Tinaroo

Hi,

I have invested £15,000 into Premium Bonds however when I go to 'Bond Details' it shows the 3 x £5k transactions as 'OPEN' however my available balance is £0.00.

Does anybody know the reason for this?

Thanks,
Tinaroo

bigfreddiel

When did you buy your PBs?

How did you buy your PBS?

Cheers fj

Apodemus

Sounds odd. On mine, it says "open" then there is a column with eligibility date. However up at the the top, the balance figure includes the sums that are not yet "eligible".

Is it possible that yours are credited, but waiting for payment to clear? Were the transactions very recent?

dawyldthing

I often buy mine on payday. So it reduces the available amount to top up to maximum and takes around 2 days to show up online as cleared. But if you click through transactions it shows it there

Tinaroo

I initially deposited £100 on the 22nd when I opened it by debit card then deposited the other £14,9k today via debit card. Wasn't expecting the £14.9k to show but the £100. As they are showing as open with bond numbers, I would have thought they would come up as an available balance! I'll keep an eye on it.

Apodemus

You keep saying "available balance" which is not what I see when I look at the Premium Bonds portion of the NS&I site. Also not sure how that concept would apply to bonds. Are you sure you are looking at the correct part of the site?

Tinaroo

Apologies, when I go to Bond Summary and select my account, the 'balance' part underneath 'Holder's/Account Number' is £0.00.

When I go to withdraw, and press next, it comes up with the following 'ZYRC1035: The available balance is not enough for you to withdraw this amount' however I haven't selected an amount.

I don't want to withdraw just wanted to see the process involved for myself.

alanq

Tinaroo wrote: »

when I go to 'Bond Details' it shows the 3 x £5k transactions

Tinaroo wrote: »

I initially deposited £100 on the 22nd when I opened it by debit card then deposited the other £14,9k today via debit card.

There is an inconsistency. Are the 3x£5k bonds earlier purchases?

Archi_Bald

Tinaroo wrote: »

Apologies, when I go to Bond Summary and select my account, the 'balance' part underneath 'Holder's/Account Number' is £0.00.

When I go to withdraw, and press next, it comes up with the following 'ZYRC1035: The available balance is not enough for you to withdraw this amount' however I haven't selected an amount.

I don't want to withdraw just wanted to see the process involved for myself.

It means your deposit hasn't processed yet. According to the NS & I Premium Bonds T&Cs:

48. It will normally take seven banking days from the date of purchase for payments to clear. For example, if we receive a cheque on a Monday, the payment will be cleared on the Tuesday of the following week. Payments made at a post office will normally take two banking days longer than the timescale set out above and will be available for withdrawal from the ninth banking day. For example, if a cheque is paid at a post office branch on a Monday, the payment will be cleared on the Thursday of the following week. One additional day on top of these timescales should be allowed for each English bank holiday. The same clearance periods apply for debit card payments

It might depend on your bank how quickly or otherwise the deposit shows.

They may also be wanting a signature on a piece of paper from you. Best to give them a call to see what applies in your case.

Tinaroo

Alanq - sorry for the confusion, I didn't do 3 x £5k. I initially initial £100 then did the others in separate amounts in separate denominations on the same day (£3k, £6k, £5k, £900) to get different numbers.

Archi Bald - thanks, that makes perfect sense now. I didn't check the T&C's which I probably should have.