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Premium Bonds: NS&I says ‘sorry’ to Britons as changes to payment process delayed

Premium Bonds: NS&I says ‘sorry’ to Britons as changes to payment process delayed


Premium Bonds are held by millions of people right across the country in the government-backed savings institution NS&I, formally known as National Savings and Investments. Each month, Britons will be in with a chance to secure a £1million jackpot, offered by the bank to two lucky winners. However, for those who are fortunate enough to win – whether this be the jackpot or any other prize – there is a vital point to note.

While the deadline for informing NS&I about bank account information has been extended due to the technical issues, Britons are still being encouraged to act as soon as possible.

Those who have registered for NS&I’s online and phone services will be able to input these details securely by logging into their account on NS&I’s website.

However, people who have not previously registered will need to sign up on the website to manage their prize options.

For individuals without access to the internet, calling NS&I will help them to establish the key details. 

Ian Ackerley, NS&I Chief Executive, previously commented on why the organisation has taken the decision to change the payment process.

He said: “Paying Premium Bonds prizes directly into customers’ bank accounts is quicker, easier and more secure for everyone. It will also mean that we can reduce the number of Premium Bonds prizes that go unclaimed where we don’t have a current address for the winner.

“Customers can also continue to have any prize wins reinvested into more Premium Bonds up to the £50,000 limit to increase their chances of winning in future draws.

“There is an understandable affection for prizes being received by post, but since March, nearly half a million customers have switched from receiving paper warrants to having their prizes paid directly into their bank account or automatically reinvested.

“As well as being beneficial to our customers, this change will allow NS&I to manage Premium Bonds prize distribution more cost-effectively and with a much lower environmental impact.”

Ahead of the expected December prize draw tomorrow, NS&I has unveiled some details about the winners.

While their identities remain top secret, there are some clues to help Britons identify if they could be the winner.

The first lucky millionaire has been revealed as a woman from Manchester, who has £30,010 invested.

The other millionaire this December is also female, and from South Gloucestershire.

This person has the maximum holding of £50,000 in Premium Bonds.

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