Published On: Tue, Jul 9th, 2024
Business | 2,541 views

Premium Bonds issues key advice over change | Personal Finance | Finance

A Premium Bonds customer was frustrated in their efforts to bring together their NS&I savings.

The saver got in touch with NS&I over X, formerly twitter, to say: “The live chat does not understand anything I’m asking, it’s very frustrating.

“I have an NS&I account for an ISA. I would like my old Premium Bonds adding to my online NS&I account but I don’t know how to do this. I can’t find any information on this specific request.”

A representative replied to explain the process. They said: “Sorry to hear this. To merge your account, please write to us at NS&I, Sunderland SR43 2SB with a signed letter.

“Please include your name, date of birth, address, your current NS&I number you log in with, and details of the missing Bonds.

“If the name and/or address is different on the old Bonds, please include your previous details as well.”

When writing to NS&I, the group advises to include as much detail as possible.

This includes personal details such as your name, address and date of birth.

You can also include references numbers such as your NS&I number, holder’s or customer number or your account number.

An individual can hold up to £50,000 in Premium Bonds with each £1 Bond having an equal chance of being selected for a prize in the monthly prize draw.

Prize winners often use their winnings to buy more Bonds, so increasing their chances of winning again.

A person has to purchase at least £25 worth of Premium Bonds when buying more.

Another customer recently got in touch to ask if they could hold multiple Premium Bonds accounts.

The provider said in response: ” This wouldn’t be possible, we only allow for one Premium Bond account per person.

“You could however, track the specific Bond numbers and assign them for the purpose you’d like.”

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