Premium Bond Winner ?

Ken68

2.1% on full investment but only because of a big win in Feb..

couriervanman

2 x £25 on £50k ..... rolling annual now 1.2%

Grogged

£25 on £10.5k, third time this year, 0.64% return.

greensalad

My first ever premium bond win! My heart was beating hard thinking "I know it'll just be £25 but maybe it could be £100k?"
Anyway it turned out to be £75 on £18k holding! Have been dripfeeding for a year so hasn't been that balance all along.

Primrose

I'm against gambling but a small monthly flutter on something where you always hang onto your original investment doesn't sound a bad idea to me!

onthebench

colsten said:

onthebench said:

Anecdotally it does seem like people get better than average luck in the first couple of draws. 

There is zilch evidence for that 'anecdote'.

That’s why I said anecdotally. And wrote underneath that there is no evidence for it. But lots of people (myself included) seem to win prizes for the first one or two draws they are eligible for and then nothing for a while. Random chance. 

micklemuckle

Hi ,  what happens if you have bought the maximum amount of bonds and you win a prize ? I had my prizes set  to be reinvested in more bonds, thanks

Primrose

Once you,ve reached your holding limit, if you win going forward they used to send you a cheque/warrant for your winnings but i think they,ve stopped doing that now and pay your prize direct into your bank account.  If you,re signed up to manage NSI investments online there's a section on the website where you can enter your bank account details (althiugh I had to do this three successive times before the system worked whilst  paper warrants kept arriving.  The same thing happened to my husband.
if you're not signed up to manage your bonds online you'll need to write to them with your PB holder's number providing  your bank account details.

I keep hoping they'll increase the maximum holding so I can start auto reinvesting any winners again as at the moment you can only buy in minimum batches of £100 I think but with  autoreinvesting minimum purchases are £25, ie equivalent  to lowest prize value. 

eskbanker

micklemuckle said:

Hi ,  what happens if you have bought the maximum amount of bonds and you win a prize ? I had my prizes set  to be reinvested in more bonds, thanks

https://www.nsandi.com/files/asset/pdf/premium-bonds-brochure.pdf states:

Each person can hold up to a limit of £50,000. Any Premium Bond numbers that go over the £50,000 limit are not eligible to win prizes. If a number beyond the limit is drawn, and a prize paid in error, we have the right to reclaim it.

I believe they'd enforce this by simply paying any prizes to your bank account, overriding the reinvestment instruction, i.e. there's no point specifying prize reinvestment if you have the maximum holding, even if it's allowed by their front-end website....

micklemuckle

Thanks Primrose and eskbanker, I have changed the option to paying any winnings to my bank account. I will give it a day or 2 and see what happens. I usually get an email to notify me of any winnings but have not had one yet. Cheers