premium bond win living abroad

ceewash

My mother has just received £100 cheque from Premium bonds in my niece's name. They were bought for her as a child and forgotten about. She is now 25 and lives in Pennsylvania USA. Is there a way she can cash this cheque? Is it advisable to cash in her bonds now.

Baldytyke88

They can only make payments to, and receive payments from, a UK account in pounds sterling. Do you have one, or can you open one?

PRAISETHESUN

Baldytyke88 said:

They can only make payments to, and receive payments from, a UK account in pounds sterling. Do you have one, or can you open one?

If you can't open a GBP account with local US banks, then multi-currency services such as Wise should be an option. You can open GBP balances which provide domestic UK bank details which you can then provide to NS&I. Probably easier in the long term to cash out though.

If you actually been issued a GBP cheque though, I'm not really sure what the best option would be. Many UK banks offer the ability to cash cheques using their respective apps, but it relies on having a current account with them in the first place.

ceewash

Baldytyke88 said:

They can only make payments to, and receive payments from, a UK account in pounds sterling. Do you have one, or can you open one?

No my niece doesn't have one. I don't think she could open one from America.

ceewash

PRAISETHESUN said:

Baldytyke88 said:

They can only make payments to, and receive payments from, a UK account in pounds sterling. Do you have one, or can you open one?

If you can't open a GBP account with local US banks, then multi-currency services such as Wise should be an option. You can open GBP balances which provide domestic UK bank details which you can then provide to NS&I. Probably easier in the long term to cash out though.

If you actually been issued a GBP cheque though, I'm not really sure what the best option would be. Many UK banks offer the ability to cash cheques using their respective apps, but it relies on having a current account with them in the first place.

Is WISE like a Revolut account?

gt94sss2

ceewash said:

Baldytyke88 said:

They can only make payments to, and receive payments from, a UK account in pounds sterling. Do you have one, or can you open one?

No my niece doesn't have one. I don't think she could open one from America.

https://www.hsbc.co.uk/international/apply-for-a-uk-account/ will allow you to open a UK bank account from the USA