Premium Bond Winner ?

BooJewels

Primrose said:

Against this you obviously need to offset the reality of receiving guaranteed interest on a cash ISA as opposed to only a possible win on Ernie so i  guess it's swings and roundabouts

I think a lot of the people here that hold PBs do so because their ISAs are already maxed out.  An ISA would obviously be a more reliable option if it were an either/or choice.

MarzipanCrumble

I hold PBs because of the following in no particular order:

Higher rate tax payer
No tax on winnings
Maxed out with ISAs
Like the gamble
Don't need the 'holding' in PBs
Easily available to cash in
Easy to add to (up to max 50k)
Choice of Winnings either to bank account or more PBs (automatic)

***Edit:  I know that they are not the most efficient or earn the most interest and that putting money long term (Def Long term - Trump) S&S platform gains more

Bravepants

I use the PB prizes as extra, bonus, pocket money, it's my emergency fund otherwise. Also the safest place to store  money used to pay my tax bill next year as I'm doing a bit of consultancy this coming year.

BooJewels

Bravepants said:

I use the PB prizes as extra, bonus, pocket money, it's my emergency fund otherwise. Also the safest place to store  money used to pay my tax bill next year as I'm doing a bit of consultancy this coming year.

My holding is my emergency fund too - it feels just inconvenient enough to get at, that I am much less inclined to dip into it for casual spending.  I put my winnings in my EA holiday fund - it's paid for several weeks in UK holiday cottages thus far and the interest that earns buys ice creams and afternoon teas.

strawb_shortcake

I had £25 this month on max, bit of a comedown as I've not had a single £25 win since December 2023. 

I hold my PB's as we expected to put it to a house move that has moved more to the right than expected. I'm almost a higher rate (40%) tax payer. It's a little excitement once a month and it's sufficiently locked away that we can't fritter it away. My OH would definitely have suggested more spending if it was in a regular account.

Our winnings top up our savings account earning interest, currently saving to take my Daughter away for her 21st birthday next year

london21

MarzipanCrumble said:

I hold PBs because of the following in no particular order:

Higher rate tax payer
No tax on winnings
Maxed out with ISAs
Like the gamble
Don't need the 'holding' in PBs
Easily available to cash in
Easy to add to (up to max 50k)
Choice of Winnings either to bank account or more PBs (automatic)

***Edit:  I know that they are not the most efficient or earn the most interest and that putting money long term (Def Long term - Trump) S&S platform gains more

Similar.

But if maxed £50k can't get more PB.

london21

Hi everyone,

when do they make payment won £200.

Kim_13

london21 said:

Hi everyone,

when do they make payment won £200.

Usually between the 8th and the 10th, I would expect it to be Monday if not later this month as the first two days of the month were not working days.

Martico

Just got credited this month's wins

london21

Kim_13 said:

london21 said:

Hi everyone,

when do they make payment won £200.

Usually between the 8th and the 10th, I would expect it to be Monday if not later this month as the first two days of the month were not working days.

Thanks just got the payment. 

Now know for other months 😁