Premium Bonds - Exceed the limit if reinvesting?

I've been told that although the maximum holding limit is £30,000, this can be exceeded if you have requested NS & I to reinvest all your winnings?
Is this true, or just a myth? Can't seem to find any official enlightenment on the subject.

Comments

  • espresso
    espresso Posts: 16,448 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Winnings can only be reinvested up to the maximum holding limit of £30K.
    :doh: Blue text on this forum usually signifies hyperlinks, so click on them!..:wall:
  • Baldur
    Baldur Posts: 6,565 Forumite
    And for official confirmation of espresso's reply, see here.

    "Reinvested prizes are subject to the holding limit of
    £30,000. We will reinvest prizes up to the limit and send
    you a warrant for any balance. If the holding limit is
    exceeded inadvertently, by an automatic reinvestment, or
    because you have bought additional Bonds before
    learning of the reinvestment, we will return the value of
    the Bonds to you - but not any prizes which may have
    been won on them.
    "
  • Primrose
    Primrose Posts: 10,697 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    Thank you. I obviously missed that bit.
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