Premium bond tips and tricks

moneymagic

Hello all,
I'm considering moving some of my emergency fund to premium bonds (around 10K worth) and was hoping to get some hints and tips from the forum.
1. Is there a preferred date to buy PBs? I know they are normally added into the next months draw, so if I pay in at the end of June (for example) would they be entered into the July draw or the August draw?

2. How long does it normally take for funds from cashed in PBs to hit your current account?

3. In what form do prizes come (and can you choose?) is it a cheque, deposit into a nominated account or can you get it to automatically purchase more PBs?

TIA

MM xx

Alistair31

End of June for August draw. 

2-3 days in my experience, IIRC

cheque or reinvested in account I understand.

El_Torro

You can have the winnings paid into a nominated account, that’s what i do.

The_Green_Hornet

All those questions (and more) are answered on their web site.
https://www.nsandi.com/premium-bonds

eskbanker

moneymagic said:

MM xx

Will you be signing off posts next year with MMXXI?

Tears_of_Jenny

eskbanker said:

moneymagic said:

MM xx

Will you be signing off posts next year with MMXXI?

eskbanker said:

moneymagic said:

MM xx

Will you be signing off posts next year with MMXXI?

  

Albermarle

End of June for August draw.

Although I would not leave it literally until the end of June. Better the week before to account for any delays , weekends etc

Swipe

Albermarle said:

End of June for August draw.

Although I would not leave it literally until the end of June. Better the week before to account for any delays , weekends etc

I have it in writing (chat transcript) that they will definitely go into the following calendar month's draw even if you buy them on the last day of the month and the money has yet to clear.

msallen

I bought some in the evening of 31 May (by debit card) and was informed they would be in the July draw.

strawb_shortcake

Hasn't there been issues with delays on NS&I? They were talking about the problems with income bonds on the radio last week but not sure if there has been any impact on PB's? 
Not sure why you'd wait until the last possible day, having something in writing doesn't guarantee it actually happening as it should.

Swipe

annabanana82 said:

Not sure why you'd wait until the last possible day, having something in writing doesn't guarantee it actually happening as it should.

I didn't do it on the last day and never would consciously plan to. I just asked them what the cut off date was. It's not just in writing, it's there on the website as soon as the transaction goes through which draw it's entered into.