Premium Bond Winner ?

janeskips2

On 2 accounts with full 50k throughout 2022 our return equalled 1.15%. Based on my notes jumping on the best non fixed (including limited access) available each month would have returned 1.45%. So we are down about 30 basis points or about 26% which is not terrible and considering higher tax a small beat.

Until the October draw our return equalled 1.85% on fairly consistent wins. Just one month between the 2 accounts (1 out of 18 draws) without a win and no account winning more than 100 any month.

Starting with the October draw our return has plummeted with 4 no wins and just 2 25 wins. Obviously 3 months is a short time frame but the last 3 months of the year we earned just 50 on 100,000 which is a miserly 0.2% annualised.

garyelder

Mines out 50k at 4.89% for 3 years with profit monthly that will do 
as nothing this month and November £25

newatc

Based on joint 100k, we've had wins of £1150 this year. Just about OK.

subjecttocontract

On our joint £100K holding, over a full 12 month calender year....
2020 = £1125
2021 = £1175 
2022 = £1075
Prior to that we did a little better with some £500 & £1000 prizes.
Of course I'm expecting a jackpot win next month like everyone else. 😉😉

Swipe

I always had my nominated account set to my current account. After last month's payment I set the nominated account to my direct saver. I decided to log in after this month's draw and noticed that it had been set to my premium bond account which is no good as I have the max holding. On Friday I set it back to my direct saver from the drop down list, so it will be interesting to see if they manage to pay to the direct saver or send a cheque. NS&I really are useless. How can a setting like that just randomly change on its own?

cricidmuslibale

Swipe said:

I always had my nominated account set to my current account. After last month's payment I set the nominated account to my direct saver. I decided to log in after this month's draw and noticed that it had been set to my premium bond account which is no good as I have the max holding. On Friday I set it back to my direct saver from the drop down list, so it will be interesting to see if they manage to pay to the direct saver or send a cheque. NS&I really are useless. How can a setting like that just randomly change on its own?

This is a very similar problem to the one I have had with my nominated account from Premium Bonds for about 2 and a half years now! Ever since I first saved into Premium Bonds just over 3 years ago, I have had my Direct Saver selected as my nominated account; however, for some reason that only NS&I can enlighten me on, every single month for the last 2 and a half years I have had to reselect my Direct Saver as my nominated account (sometimes more than once a month) because the nominated account setting keeps changing at seemingly random times to what I can only assume is an NS&I holding account. (I don't think in my case it is my Premium Bond account actually.) I have to make sure in particular that I reselect my Direct Saver as my nominated account just before any prize wins are due to paid by BACS!

This is because in February 2021 I forgot to do this reselection in time, won £75 in the draw that month, and the prize amounts were only paid to my Direct Saver well over a month later after a considerable amount of time spent on the phone complaining, mostly in vain. I had to resort to a written complaint to NS&I in the end. Ok, to be fair, I later received a further £75 in compensation, this time paid to my main current account. But, frankly, I could really have done without all the hassle!

So @Swipe, you have my complete empathy and understanding about just how very frustrating this NS&I longstanding issue or technical fault really is!

MysteryMe

£25 x 1 and £100 x 1 on full holding.

SandyN21

Based on max holding of £50K only since  April, my wins for this year total £550... I'm very happy with that.

Swipe

@cricidmuslibale do you happen to know how long after the draw date the BACs is initiated? Same day or next working day?

cricidmuslibale

Swipe said:

@cricidmuslibale do you happen to know how long after the draw date the BACs is initiated? Same day or next working day?

@Swipe The earliest day any BACS premium bond payment arrives in my nominated account is the 8th day of month. That means that the BACS would be initiated no earlier than the 5th day of the month, quite possibly on the 6th day, I assume. So, assuming the draw is completed on the 1st day of the month, that’s actually 4 to 5 days after the draw!

Edit: It has just struck me that if the 1st day of the month is a Monday, for example, then, because the 6th and 7th days of the month are Saturday and Sunday, any BACS prize payments due would have to be initiated by the 4th day of the month at the latest in order for them to reach the nominated accounts of Premium Bond holders by the following Monday, the 8th day of the month! This would also be the case if the 1st day of the month is a Tuesday.