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Maximum Premium Bond holding?
TUVOK
Posts: 538 Forumite
I hold the maximum of £50K in P/Bonds and have just been notified that I have won a £25-00 prize.
What happens to that prize? Is it payed to me as cash or is it added to my holding as I have wished for any other prize wins in the past.
What happens to that prize? Is it payed to me as cash or is it added to my holding as I have wished for any other prize wins in the past.
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Comments
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Hi,it will go into your account unless you have given instructions to be paid into your bank account, it will not be used to buy more bonds.1
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It will be posted to you as a payable order (cheque).#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3661
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They will send it to your bank account or send you a warrant (cheque).1
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If you have instructed them to pay prizes to your account then that's what they will do. If you have asked for them to be reinvested then ...
- Reinvested prizes are subject to the holding limit of £50,000. We will reinvest prizes up to the limit and send you a warrant for any balance. If the holding limit is exceeded inadvertently, by an automatic reinvestment, or because you have bought additional Bonds before learning of the reinvestment, we will return the value of the Bonds to you - but not any prizes which may have been won on them.
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