How long for cashed in Premium Bonds to arrive?

Yorkshire_Pud
Yorkshire_Pud Posts: 1,857 Forumite
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in Savings & investments
Has anyone done an online request for cashing in PB funds? If so how long does it take for the funds to arrive in nominated bank account?

Thanks:)

Comments

  • ColdIron
    ColdIron Posts: 9,039 Forumite
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    3 Working days if done onine (BACS)

    https://www.nsandi.com/how-long-does-it-take-cash-money-nsi-account
  • EachPenny
    EachPenny Posts: 12,239 Forumite
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    ColdIron wrote: »
    3 Working days if done onine (BACS)

    Plus a delay if you make the request at the end of the month so you don't miss out on the final draw :)
    "In the future, everyone will be rich for 15 minutes"
  • eskbanker
    eskbanker Posts: 30,993 Forumite
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    ColdIron wrote: »
    3 Working days if done onine (BACS)

    https://www.nsandi.com/how-long-does-it-take-cash-money-nsi-account
    At the risk of being pedantic, that states that they'll send your payment within three working days, but as I understand it, it'll then take another couple of days to actually arrive when using BACS.

    The Ts & Cs also support this interpretation of three days to send and another two to arrive:
    57. For telephone or internet applications to cash in, we will normally initiate the electronic transfer within three banking days of receiving instructions.

    [...]

    59. Once we have initiated the electronic transfer, the date of repayment, for the purposes of these terms and conditions, will be taken to be the date on which, in the normal course, the requested amount would be credited to the nominated bank or building society account. In the case of BACS, this is normally two banking days after we initiate the transfer
  • dales1
    dales1 Posts: 230 Forumite
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    Last month I cashed in some of my bonds.

    I went online on the Saturday to cash them, on the Monday NS&I sent the BACS (this shows on my NS&I account) and on the Wednesday it was in my nominated bank account.

    Good service.
  • Ifts
    Ifts Posts: 1,951 Forumite
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    The last time I done an online request for cashing in PB funds (this time last year), it went as follows:

    I cashed in some PB's (7th March) using the NS&I online service and the next day (8th March) the money was showing as cleared balance in the linked account - though the NSI payment in was dated 9th March.
    Never let the perfume of the premium overpower the odour of the risk
  • sovsov1357
    sovsov1357 Posts: 38 Forumite
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    Takes around about 3 working days, unless you defer until after the next draw, which I would always advise doing unless you desperately need the cash or it's at the start/middle of the month...
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