Premium Bonds time to withdraw online

greensalad

I've read some stories about it being hard to pull your premium bond savings out as it takes quite a while, but as far as I can see that has been related to postal/cheques etc. How long does it take to withdraw online? Is it instant/next day, or still delayed? Presuming I didn't fully close the account and left enough in there to meet the minimum.

The_Green_Hornet

NS&I have a handy payment timeline calculator on their web site.

https://www.nsandi.com/help/manage-your-savings/make-withdrawal-from-savings

crumpet_man

I found that the fastest way is to transfer from premium bonds to direct saver (which is instant) and then withdraw funds from direct saver to linked current account.

Withdraw from direct saver is the next working day but withdraw from premium bonds adds another day for some odd reason.

greensalad

Ah the calculator is great! 2 days is fine, I was concerned it was going to be something like a week.

Apodemus

greensalad said:

Ah the calculator is great! 2 days is fine, I was concerned it was going to be something like a week.

That will probably be banking days, though, so if you made the website request today, it could be next Thursday when the funds arrive in your account. So, yes, something like a week!

Mrs_Z

I withdrew some funds from the Direct Saver on-line to the nominated bank account and the funds were available the next day, no issues at all.

Alexland

I wouldn't want to rely on NS&I in an emergency as their customer service, if anything goes wrong, has a poor reputation. Spread your easy access cash across a few unrelated providers.

greensalad

I do have cash across a few different places. I just need to withdraw some from Premium Bonds to pay a specific bill.

getmore4less

My extracts  from PB I tick after next draw option, set them up in advance  
Usually turns up soon after depending when the 1st of the month was.
give them one more chance

hermante

Can I withdraw PBs today and still have them count for the draw which the website says will be on 5 January?

eskbanker

hermante said:

Can I withdraw PBs today and still have them count for the draw which the website says will be on 5 January?

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

Once a Premium Bond is eligible for draws, it will take part in each month’s draw provided you still hold the Bond on the first day of the month

but doesn't elaborate in terms of whether they differentiate between the start and end of the day....