Premium Bond Winner ?

ljayljay

onthebench said:A bit longer to wait this month, with the Easter holidays - the prize checker says results aren't available until April 6!

According to this 2 April

https://www.nsandi.com/prize-checker

2010

It`s the 2nd April according to the NS&I phone app.

cricidmuslibale

I am very much hoping that lots of people saving up to now with NS&I are still cashing in maturing Investment Guaranteed Growth Bonds, Guaranteed Growth Bonds and Guaranteed Income Bonds (because of very low interest rates offered on all renewals) as well as closing Income Bonds accounts due to the very very low 0.01% monthly interest rate that these accounts now pay. If all this is going on then, even if a significant amount of all this money is being transferred to Premium Bonds accounts, there may still be a reasonable amount of money in total leaving NS&I altogether.

In short, I'm very much hoping that more money is leaving NS&I altogether than is entering NS&I in order to top up or save for the first time in Premium Bonds accounts! If in fact more money is entering NS&I than leaving in total, I really do hope that this is only a small amount more, relatively speaking! Because if it is a large amount more, the present already very low (in historical terms) interest rate of 1% is in danger of being reduced further and the present already not at all good prize-winning odds of 34500 to 1 are likely to worsen further unfortunately!

eskbanker

cricidmuslibale said:

I'm very much hoping that more money is leaving NS&I altogether than is entering NS&I in order to top up or save for the first time in Premium Bonds accounts! If in fact more money is entering NS&I than leaving in total, I really do hope that this is only a small amount more, relatively speaking!

As discussed on another thread, the NS&I Q4 forecast (issued earlier this month) is for a total net outflow of £8.8bn, despite ongoing increases in PB holdings in £5bn/quarter territory....

cricidmuslibale

eskbanker said:

cricidmuslibale said:

I'm very much hoping that more money is leaving NS&I altogether than is entering NS&I in order to top up or save for the first time in Premium Bonds accounts! If in fact more money is entering NS&I than leaving in total, I really do hope that this is only a small amount more, relatively speaking!

As discussed on another thread, the NS&I Q4 forecast (issued earlier this month) is for a total net outflow of £8.8bn, despite ongoing increases in PB holdings in £5bn/quarter territory....

That's good news for now but not long after the start of the new tax year any remaining Investment Guaranteed Growth Bonds (issued from April 2017 to April 2018) will have matured and therefore there will be one less source of blocks of capital plus interest - each block worth £3,202.58 for the majority who saved the max. allowed £3,000 - potentially leaving NS&I for greener pastures elsewhere. Then any remaining outflow will come from maturing Guaranteed Growth Bonds, Guaranteed Income Bonds and the 'few' (relative to how many there were before 24/11/2020) Income Bonds accounts that still remain open plus withdrawals or transfers out of money from NS&I's Direct ISA or Junior ISA possibly. NS&I's target for 2021 to 2022 is, if I remember correctly, a total net inflow of only £6 billion within a range of £3 billion to £9 billion and there is likely to be a significant amount of inflow from the new Green Investment Bonds being released in late summer / early autumn. So, for these reasons alone, even if there is no further reduction in the Bank of England base rate, I'm still very nervous about whether the present 1% interest rate and 34500 to 1 prize-winning odds for Premium Bonds will be retained for longer than the next 6 months or so!

onthebench

2010 said:

It`s the 2nd April according to the NS&I phone app.

Well that’s odd, I just looked and it says 2nd April. I’m positive that when I looked at it a week or two ago it was saying the 6th. 

RG2015

onthebench said:

2010 said:

It`s the 2nd April according to the NS&I phone app.

Well that’s odd, I just looked and it says 2nd April. I’m positive that when I looked at it a week or two ago it was saying the 6th. 

Maybe they thought it was 6th April and found out they were wrong and changed it. The 2nd April is Good Friday and a bank holiday so it is a surprise to me that they are revealing the results on this day.

onthebench

RG2015 said:

onthebench said:

2010 said:

It`s the 2nd April according to the NS&I phone app.

Well that’s odd, I just looked and it says 2nd April. I’m positive that when I looked at it a week or two ago it was saying the 6th. 

Maybe they thought it was 6th April and found out they were wrong and changed it. The 2nd April is Good Friday and a bank holiday so it is a surprise to me that they are revealing the results on this day.

As I understand it the actual draw is done on the 1st (the high value winners are usually available on that day), which is a normal working day this month. The reporting is down the following day but you'd think that would be pretty automated.

strawb_shortcake

onthebench said:

RG2015 said:

onthebench said:

2010 said:

It`s the 2nd April according to the NS&I phone app.

Well that’s odd, I just looked and it says 2nd April. I’m positive that when I looked at it a week or two ago it was saying the 6th. 

Maybe they thought it was 6th April and found out they were wrong and changed it. The 2nd April is Good Friday and a bank holiday so it is a surprise to me that they are revealing the results on this day.

As I understand it the actual draw is done on the 1st (the high value winners are usually available on that day), which is a normal working day this month. The reporting is down the following day but you'd think that would be pretty automated.

I'm sure I read once that it wasn't confirmed when the draw was done and the article suggested that it could be done in advance of the 1st. But on reflection that could work out that people withdrawing money late in the month could have already taken part in a draw and win a prize with no actual active bonds. 

I do recall that the app has got the date wrong in the past, coinciding with another bank holiday or non working day, and the date changed as it approached possibly? Hopefully there is someone with a better memory than myself that can recall.
But I agree it should be automated

Eco_Miser

annabanana82 said:

onthebench said:

RG2015 said:

onthebench said:

2010 said:

It`s the 2nd April according to the NS&I phone app.

Well that’s odd, I just looked and it says 2nd April. I’m positive that when I looked at it a week or two ago it was saying the 6th. 

Maybe they thought it was 6th April and found out they were wrong and changed it. The 2nd April is Good Friday and a bank holiday so it is a surprise to me that they are revealing the results on this day.

As I understand it the actual draw is done on the 1st (the high value winners are usually available on that day), which is a normal working day this month. The reporting is down the following day but you'd think that would be pretty automated.

I'm sure I read once that it wasn't confirmed when the draw was done and the article suggested that it could be done in advance of the 1st. But on reflection that could work out that people withdrawing money late in the month could have already taken part in a draw and win a prize with no actual active bonds. 

I do recall that the app has got the date wrong in the past, coinciding with another bank holiday or non working day, and the date changed as it approached possibly? Hopefully there is someone with a better memory than myself that can recall.
But I agree it should be automated

The draw could be done earlier, but any bonds withdrawn late in the month would be removed before the results were finalised.

Remember that no bonds are actually entered into a draw. ERNIE generates random numbers from the whole universe of possible bond numbers, and those that haven't been sold yet, were sold in the previous month and therefore don't qualify yet, or have been redeemed, are skipped over in the checking and allocation of prizes stage.

The publication of results could be an overnight batch process, with the people overseeing it being classed as working Thursday night, rather than Good Friday.