Is it possible to have more than 50k in premium bonds

[Highway Man]

If I hold 50k in premium bonds can I add a further 50k in my own name? Someone told me that they have done this so I am confused with the rules.

 

[blup]

50k max as i understand it, so put it in the Missus name. The limit seems quite low, they are very popular.

 

[Highway Man]

50k max as i understand it, so put it in the Missus name. The limit seems quite low, they are very popular.

I thought that was the case, so once you have the both of you with 50k each then that is your limit?

 

[Murdochcat]

I thought that was the case, so once you have the both of you with 50k each then that is your limit?

Yes unless you have kids under 18 …..

 

[blup]

I thought that was the case, so once you have the both of you with 50k each then that is your limit?

Thats my understanding.

 

[Highway Man]

Thats my understanding.

Mine too,

 

[Highway Man]

Yes unless you have kids under 18 …..

Does that go on the amount of kids or is it per child?

 

[Murdochcat]

Does that go on the amount of kids or is it per child?

Each individual holder can have 50k and add soon as the kid becomes 18 they have control of the account

 

[Highway Man]

Each individual holder can have 50k and add soon as the kid becomes 18 they have control of the account

Oh I see, so it wouldnt be my allowance that allows me to add for myself, it would be the childs account until they reach the age of 18

 

[Murdochcat]

Oh I see, so it wouldnt be my allowance that allows me to add for myself, it would be the childs account until they reach the age of 18

Yes but you could add it at 2 years old and re move it at 17 and the kid would be none the wiser BUT i think winning cheques are in the name of the holder but i could be wrong

 

[Highway Man]

Yes but you could add it at 2 years old and re move it at 17 and the kid would be none the wiser BUT i think winning cheques are in the name of the holder but i could be wrong

But you still could not put the money back into your own name after ?

 

[Murdochcat]

But you still could not put the money back into your own name after ?

Do you have young children?

 

[Highway Man]

Do you have young children?

No

 

[pete01]

Ask notch hes got more thank 50k in one apparently

 

[Ihavenojob]

Miss Thieves could redeem herself by upping the limit to £60k/£70k or even £100k, people would invest, the Government would have more money.