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Premium bonds dilemma

Options
I have 100k invested in premium bonds in 2 x 50k and need to withdraw 30k - should I withdraw the whole amount from one of the 50k holdings or split the 30k between the 2 holdings in order to maximise my 'average luck' for future prizes ?
Many thanks for any suggestions

Comments

  • eskbanker
    eskbanker Posts: 36,937 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It'll make no difference to the luck whichever way you do it, but £100K must be in two people's names so splitting the withdrawal across the two accounts would possibly be fairer....
  • YOU cannot have £100k in PBs.
    If you need the £30k, take it from the account in your name.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    You're lucky, there is no dilemma since it makes no difference. 
  • jimjames
    jimjames Posts: 18,609 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    YOU cannot have £100k in PBs.
    If you need the £30k, take it from the account in your name.
    Alternatively I'd suggest the opposite. Take it from the ones not in your name so that you have a smaller amount that is not your money.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • YOU cannot have £100k in PBs.
    If you need the £30k, take it from the account in your name.
    Hi,
    allowed £50k now.

  • MX5huggy
    MX5huggy Posts: 7,154 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Take some from both so that prizes can be auto reinvested in both accounts until or if they are full again. Remember prizes go in next months draw if auto reinvested where as if they go via a bank payment or warrant the money will miss a draw.
  • Thanks all - should've made clear that the 100k was split into 2 (me and hubby) but like MX5huggy's idea of taking from both and reinvesting any poss prizes 
    Cheers 
  • jimjames
    jimjames Posts: 18,609 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 8 August 2024 at 1:41PM
    YOU cannot have £100k in PBs.
    If you need the £30k, take it from the account in your name.
    Hi,
    allowed £50k now.

    £100k>£50k hence the comment that you cannot have £100k in PBs
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Billycock
    Billycock Posts: 172 Forumite
    100 Posts Name Dropper
    YOU cannot have £100k in PBs.
    If you need the £30k, take it from the account in your name.
    OP says 'in 2x50k'
    Most would be aware it's from two individual accounts.
    And when you say, If you need the £30k, take it from the account in your name, that would suggest you're aware there are two individual accounts.
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