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NS&I Explains Premium Bonds Payouts After Customer Flags Missing Prizes

The provider says prizes are paid in batches with options for bank transfer or automatic reinvestment.

Overview

  • NS&I responded to a social media query from a holder who saw four prizes in the checker but received only one, saying payouts are issued in batches and inviting a direct message for case details.
  • Prizes range from £25 to two £1 million jackpots in each monthly draw, with current odds of 22,000 to one for each £1 Bond.
  • The prize fund rate stands at 3.6% following reductions this year, with cuts reported in January, April and August.
  • Personal finance experts advise reviewing holdings if there have been no wins for a year and considering shifting some money to accounts or ISAs that pay guaranteed interest.
  • Coverage reports record engagement, including about 1.4 million savers holding the £50,000 maximum and an estimated £6 billion added this year.