Premium Bond paper prize cheques to be scrapped - MSE News

More Premium Bond prizes will be paid directly to holders' accounts as NS&I is set to phase out its paper prize cheques by March next year – so make sure it has your details...

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'Premium Bond paper prize cheques to be scrapped'

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  • gt94sss2gt94sss2 Forumite
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    Just out of interest, what if one is currently registered to get prizes electronically but wants to switch to postal prizes for a few months until it's phased out... 

    Is that possible?
  • edited 17 September 2020 at 12:26PM
    bowlhead99bowlhead99 Forumite
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    edited 17 September 2020 at 12:26PM
    gt94sss2 said:
    Just out of interest, what if one is currently registered to get prizes electronically but wants to switch to postal prizes for a few months until it's phased out... 
    Is that possible?

    For mine, when logged in I have the choice to check or uncheck a box to have 'paperless' documentation or not (so I could get transaction confirmations and paperwork via mail rather than online) but if I click the prize payment options I only have the choice of 'pay into my nominated account' (which I can change to a different nominated account) or 'reinvest in premium bonds' - there is no option to have paper warrants sent to me that I would need to go and pay in to a bank manually.  Maybe the options are different if you have turned paperless off.

    If you really wanted to do that (because you like the idea of extra admin work) then you might be the sort of person who would like to spend some time on the phone to them asking about it... but I'm not :smiley:
  • edited 17 September 2020 at 12:31PM
    ConsumeristConsumerist Forumite
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    edited 17 September 2020 at 12:31PM
    Just an aside but I received an email today from NS&I saying that all their savings accounts are being administered online (except for their postal account). Helpfully, they failed to say when - so when they can be bothered to get round to it.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • csgohan4csgohan4 Forumite
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    not really bothered to be honest, less trees is surely a good thing. Most things are done online now anyways.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • StubodStubod Forumite
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    ..'bout time...
    .."It's everybody's fault but mine...."
  • droopsnootdroopsnoot Forumite
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    Mine are paid electronically, but it's worth mentioning to any older friends or relatives who might have bonds from years ago.
  • AshleyH576AshleyH576 Forumite
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    Look forward to NS&I explaining how they will deal with Power of Attorney accounts held under Attorney's name. They have insisted they only pay by warrant in the past. And they're not suggesting a way forward. Just that they'll write a letter to notify how to claim!!
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