I’m getting fed up with premium bonds.

[ReganAndCarter]

Nothing this month.

Also, as Mottie says, change to getting winnings direct to bank ac. No cheques to go missing and no schlepping down to the bank to queue up and pay them in.

 

[conny]

When I bought some a few months ago I think payment was automatically into your bank account. Cheques could be issued in certain circumstances but you have to enquire if you are eligible.

 

[Trazor]

When I bought some a few months ago I think payment was automatically into your bank account. Cheques could be issued in certain circumstances but you have to enquire if you are eligible.

Payment is only automatic, into your bank account, if you hold £50,000's worth.

If you have less than £50,000, you can select that any winnings will purchase more bonds for you.

 

[JohnD]

The prize fund rate may inch up over the next year, as inflation and interest rates rise. It is currently 1%.

It's already over market rates for savings interest, so it may lag until the others catch up.

no doubt the return will continue to be lower than inflation, as it is now, so the value of your savings goes down in real terms.


"Bank of England chief warns it ‘will have to act’ to curb inflation
In speech to central bankers, Andrew Bailey makes no attempt to quell expectations of rate rise this year"


"Investors crank up bets on UK interest rate rises"

FT.com



"Ramping up the rhetoric ahead of the Budget and the BoE’s next forecast on November 4, he signalled that his concerns on inflation during the current energy crisis had increased.

The governor stuck by his long-held view that the rise in inflation, which jumped to 3.2 per cent in August, would ultimately be “temporary” but noted that large price increases would last well into next year."

 

[Mottie]

Does anyone have their winnings paid into a bank account? We had £25 paid into our account at 23.59 last night with a reference number ending NS PBZ. Thing is, we won nothing this month and £25 each last month but I have our updated statements and they were added to our accounts as per normal. Online search shows it's either come from premium bonds or a Polish bank!

Edit: Just been on to the bank. They haven't got a clue either! How can someone send a payment into my account and the bank can't tell me where it's from?

Edit 2: NS&I can't tell me either, other than it is a premium bond prize but both Mrs Mottie and I last won a £25 prize each in September and we both have the updated bond certificates showing that it has been reinvested. Oh well, finders keepers and all that.....

 

[Ihavenojob]

Does anyone have their winnings paid into a bank account? We had £25 paid into our account at 23.59 last night with a reference number ending NS PBZ. Thing is, we won nothing this month and £25 each last month but I have our updated statements and they were added to our accounts as per normal. Online search shows it's either come from premium bonds or a Polish bank!

Edit: Just been on to the bank. They haven't got a clue either! How can someone send a payment into my account and the bank can't tell me where it's from?

Edit 2: NS&I can't tell me either, other than it is a premium bond prize but both Mrs Mottie and I last won a £25 prize each in September and we both have the updated bond certificates showing that it has been reinvested. Oh well, finders keepers and all that.....

You haven't got too many PB's ? Happened to me when they collated all my bonds and found I had gone over the limit, they paid money into my account.

 

[Mottie]

You haven't got too many PB's ? Happened to me when they collated all my bonds and found I had gone over the limit, they paid money into my account.

No. We've got just under £10k each to go before we reach the limit.

 

[Mottie]

Does anyone have their winnings paid into a bank account? We had £25 paid into our account at 23.59 last night with a reference number ending NS PBZ. Thing is, we won nothing this month and £25 each last month but I have our updated statements and they were added to our accounts as per normal. Online search shows it's either come from premium bonds or a Polish bank!

Edit: Just been on to the bank. They haven't got a clue either! How can someone send a payment into my account and the bank can't tell me where it's from?

Edit 2: NS&I can't tell me either, other than it is a premium bond prize but both Mrs Mottie and I last won a £25 prize each in September and we both have the updated bond certificates showing that it has been reinvested. Oh well, finders keepers and all that.....

Well, this came today so explains how we came by it although I still don't quite understand. Apparently Mrs Mottie was given it because the original winner was not eligible to receive it.
If only the original winner had won the million pound prize!

 

[JohnD]

I can't help thinking that "the original winner" may have passed away.

 

[Mottie]

They must have a luck dip for prizes that can't be paid out anymore then. Why not just put them back into the prize fund and pick out more winners?

 

[JohnD]

perhaps they have reason to believe that Mrs Mottie was next of kin.

Or one of them bought it for the other e.g. as a christening present.

perhaps they will divulge more when she calls them.

 

[Mottie]

Seems Mrs Mottie is not alone.

https://forums.moneysavingexpert.com/discussion/5962485/premium-bonds

https://www.thisismoney.co.uk/money...VESTOR-won-100k-Premium-Bond-prize-claim.html

 

[ReganAndCarter]

Seems Mrs Mottie is not alone.
https://forums.moneysavingexpert.com/discussion/5962485/premium-bonds

https://www.thisismoney.co.uk/money...VESTOR-won-100k-Premium-Bond-prize-claim.html

That's what happened when my cousin died. It took us 18 months to administer her estate, and as she had the maximum holding there were prizes every month.. For the first 12 months the prizes were paid to her estate, then they stopped. You can only receive prizes for 12 months after someone dies. Didn't realise they went to someone else, seems a bit unfair.

 

[JohnD]

There is a notification called "Tell us once" or something like that you can use when somebody dies, it stops payment of state pension and benefits, and does other things, I forget now, but probably cancels Blue Badge, Driving Licence, Repeat Prescriptions, and puts a stop to some automated reminders.

I would have thought Premium Bonds would get notified, so they could remove the bondholder from prize draws 12 months after date of death.

Some banks, savings accounts and so forth refuse to take action until probate has been granted, but I found that if you send a standard letter quoting account number, enclosing a death certificate, and asking for future mail to be addressed to you (if you are executor, or acting for or as such) they will mostly do it. Banks will often release funds to pay for a funeral direct to the funeral director, though they won't want to pay out anything else.

edit
yes, here it is
https://www.gov.uk/after-a-death/organisations-you-need-to-contact-and-tell-us-once

 

[Ihavenojob]

3 x £25 for me this month.