Online Premium Bond account
Comments
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would guess most people have bonds after sorting out a savings account and want a bit of fun.Would also say that the average person unlike the majority on here are either not bothered or unaware of savings rates hence the "i can't be bothered for an extra half percent" that you often hear.
If my Uncle came on here and asked for advice of what to do with his bonds someone would point him to a good paying account.Then someone would say leave that low paying account and put it in a fund and then so on & so forth.Its horses for courses in the end0 -
ValiantSon wrote: »Which is one of the criteria that might suggest it is worth an individual considering using premium bonds, but even then it is by no means an obvious choice.
That guy on my round who regularly wins got 4 wins today! And 3 last month.. Always seems grumpy though!0 -
guessing he will cheer up if you stop giving him only £25 a time:)fly-catchers wrote: »That guy on my round who regularly wins got 4 wins today! And 3 last month.. Always seems grumpy though!0 -
PeacefulWaters wrote: »Any reasonable probability distribution curve will see a prize pot paying out pretty close to that 1.40% number, notwithstanding a range either side. For a £50k saver a prize or more a month is more likely than none.
No it isn't. I have already explained to you what the probability is. Perhaps you'd like to re-read my posts.
The average return on £50,000 is £500 per year, which is 1%.PeacefulWaters wrote: »I believe the average return without jackpot is still well over your 1% claim. Ready to be shown wrong. I make it 1.36%. Give me 1.36% variable plus a chance of £1m rather than 1.30% cash in hand.
How have you worked that out? Try this: https://www.moneysavingexpert.com/savings/premium-bonds-calculator/
https://www.moneysavingexpert.com/savings/premium-bonds-calculator/The reality is most people open their savings account with a known brand paying a poor rate.[/QUOTE]
I'm sorry, but you are trying to pick and choose. I have said that an easy access savings account will pay more than 1% and there are plenty that do. You cannot limit this to just the banks you want to. All of the savings accounts I have included in this are FSCS protected, and all are highlighted on MSE. Trying to argue that only high street banks count for comparison is utterly disingenuous, and designed to try and bolster your (fallacious) argument. I call straw man.PeacefulWaters wrote: »Based on 1.3% being less than 1.4%?
No, based on the statistical probability that you won't actually get 1.4%.
I'm not sure whether you genuinely don't understand this, or whether you are being deliberately obtuse.PeacefulWaters wrote: »I've given my reasons clearly. Surely you can do better than repeat a nonsensical insult.
I have given you clear evidence to support what I have said (you haven't for your contention).
I say you are talking rubbish because, as I have demonstrated, you are talking rubbish (and continue to do so). It isn't nonsensical, indeed, it is completely sensical, because I have demonstarted how what you keep saying is wrong.PeacefulWaters wrote: »Even when "most" use terrible savings accounts?
There's that straw man again!
It is entirely possible to open a savings account paying above the selective rates that you have quoted from a small sample of the retail banks licensed by the FCA and offering FSCS protection.
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest
You continue to be wrong, despite the evidence that you are. I'm starting to feel that I am feeding a troll.0 -
fly-catchers wrote: »That guy on my round who regularly wins got 4 wins today! And 3 last month.. Always seems grumpy though!
Statistically, he is an outlier. A very lucky one, but still an outlier!0 -
Only if you strip out high value prizes. But the reality is they get paid. So you're distorting reality.ValiantSon wrote: »No it isn't. I have already explained to you what the probability is. Perhaps you'd like to re-read my posts.
The average return on £50,000 is £500 per year, which is 1%.
I highlighted those with over 85% of the easy access savings market.I'm sorry, but you are trying to pick and choose. I have said that an easy access savings account will pay more than 1% and there are plenty that do. You cannot limit this to just the banks you want to.
You missed the bit where I honestly highlighted the best buys.All of the savings accounts I have included in this are FSCS protected, and all are highlighted on MSE. Trying to argue that only high street banks count for comparison is utterly disingenuous, and designed to try and bolster your (fallacious) argument. I call straw man.
The prize pot is 1.40%. It may be distorted by the big money, but the amount paid out is that sum.No, based on the statistical probability that you won't actually get 1.4%.
That argument is a two way street.I'm not sure whether you genuinely don't understand this, or whether you are being deliberately obtuse.
If you choose selective weightings it is.I say you are talking rubbish because, as I have demonstrated, you are talking rubbish (and continue to do so). It isn't nonsensical, indeed, it is completely sensical, because I have demonstarted how what you keep saying is wrong.
A matter I haven't ignored.It is entirely possible to open a savings account paying above the selective rates that you have quoted from a small sample of the retail banks licensed by the FCA and offering FSCS protection.
You are simply choosing to interpret the numbers in a narrow minded manner.You continue to be wrong, despite the evidence that you are. I'm starting to feel that I am feeding a troll.0 -
I don't think anyone actually answered this question.fly-catchers wrote: »I recently opened up an online NS&I account and brought £1000 worth of premium bonds. I have a few ancient bonds going back to 1958, can I add these to my online account and keep them all in one place. I do have two different holders numbers. The new online one and a paper one which I was issued with from NS&I in the early 90's.
You can't add Premium Bonds to an online account yourself. Everything assigned to your holder's number is automatically shown, however old (I believe they did a name/address matching exercise in the 1980s/1990s to allocate a holder's number to each old bond). What you need to do is contact NS&I and ask for both holder's numbers to be merged into one number. Make sure you register online with that holder's number, then everything will magically show online.0 -
PeacefulWaters wrote: »Only if you strip out high value prizes. But the reality is they get paid. So you're distorting reality.
No. That is the statistical average return!
I am not the one who is "distorting reality". Have you recently met the black kettle?PeacefulWaters wrote: »I highlighted those with over 85% of the easy access savings market.
Straw man.PeacefulWaters wrote: »You missed the bit where I honestly highlighted the best buys.
Where was that then?PeacefulWaters wrote: »The prize pot is 1.40%. It may be distorted by the big money, but the amount paid out is that sum.
Yes, the annual amount in total, not the annual amount to each bond holder.PeacefulWaters wrote: »That argument is a two way street.
No it isn't. I have demonstrated that you are wrong. You keep repeating your errors. :wall:PeacefulWaters wrote: »If you choose selective weightings it is.
No. See above. You are the one who is selective with their evidence!PeacefulWaters wrote: »A matter I haven't ignored.
You have deliberately misrepresented the interest rates available to bolster your own fallacious argument.PeacefulWaters wrote: »You are simply choosing to interpret the numbers in a narrow minded manner.
No, that would be you.
I am interpreting them correctly, you are interpreting them incorrectly.
One of the following three options applies:
1) You really just don't understand the maths.
2) You are the kind of person who can just never admit that they are wrong about something.
3) You are a troll.0 -
I have quite a bit of my money in them and I just see it as a way of keeping money safe and any winnings is a bonus. Yeah I could jump between accounts to get more but I'm happy as its like doing the lottery without losing money really:T:T :beer: :beer::beer::beer: to the lil one
:beer::beer::beer:0 -
dawyldthing wrote: »I have quite a bit of my money in them and I just see it as a way of keeping money safe and any winnings is a bonus. Yeah I could jump between accounts to get more but I'm happy as its like doing the lottery without losing money really
If you are happy in the knowledge that inflation is eroding the value of your deposits at a faster rate than in an interest bearing account, and you just like having the chance of winning some money, then that's fine. What i object to is people being advised or encouraged to put their savings into premium bonds without any consideration of whether it is actually a suitable product.
By the way, your money is just as safe in any FSCS covered bank (or in an NS&I savings account or bond).0
This discussion has been closed.
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