The National Savings & Investments Bank, better known as NS&I, has released data revealing that over £106 million of Premium Bond winnings remain unclaimed. There are over 2.6 million unclaimed bond winnings, despite NS&I paying over 99% of winnings since its inception in 1954. In this article, we explain how to check if you are a winner, how you can find missing or forgotten Premium Bonds and how to ensure you receive your winnings efficiently.
What are Premium Bonds?
Premium Bonds are savings bonds backed by the UK Government, which do not earn interest. Instead, each bond is entered into a monthly prize draw. Premium Bond holders have the potential to win monthly prizes worth between £25 and £1 million, which are paid free of any income or capital gains tax. Premium bonds have long been popular among savers who like the security of a Government-backed savings product combined with the chance of winning significant sums of money via the monthly prize draws. However, with no interest on deposits, the value of savings can be eroded by inflation and the likelihood of winning is much less than most imagine. You will find Damien's video discussing the odds of winning a Premium Bond prize as well as how Premium Bonds compare with other savings in our article, “How do Premium Bonds work and are they worth it?”.
The £106m pot of unclaimed Premium Bond winnings
Each month, NS&I announces the results of the draw as well as information about unclaimed winnings. In September, it announced that over 2.6 million Premium Bond prizes worth over £106 million remained unclaimed. There is no time limit for claiming your Premium Bond winnings, meaning unclaimed prizes may have accumulated since the inception of Premium Bonds in 1957. Although NS&I communicates all winnings to its Premium Bond holders, people may have moved home, changed their contact information, or even passed away.
How to check if you have won
Checking if you have won a prize in the Premium Bond draw is simple - you can do so online via the Premium Bonds Prize Checker page or via the Prize Checker app. We've provided the relevant links below:
- Online Premium Bonds Prize Checker
- App Store Premium Bonds Prize Checker app
- Google Play Premium Bonds Prize Checker app
If you have elected to receive your winnings by cheque, you can switch to receive your winnings directly into your bank account. Doing so could prevent you from missing out on winnings if you move home or change your contact information. You can arrange the change by completing the forms on NS&I’s Quicker Prizes page.
Accessing forgotten Premium Bonds
If you have forgotten the information relating to your NS&I Premium Bonds, you can get assistance by contacting NS&I by phone on 08085 007 007 or by post to NS&I, Sunderland SR43 2SB. You will need to include your name, address (including previous addresses if you have moved), NS&I Number, as well as Bond & Certificate numbers (if you have them) so that your enquiry can be dealt with efficiently. There is also a 24/7 chat feature on the NS&I website where you can ask questions.
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