The advice comes after NS&I Premium Bonds holders voiced their dismay at discovering their reinvested Bonds, worth £100, were not showing on accounts.
NS&I has issued a warning to Premium Bonds holders – urging them to “call us”. The advice comes after NS&I Premium Bonds holders voiced their dismay at discovering their reinvested Bonds, worth £100, were not showing on accounts.
The complaints have flooded in to NS&I via X. One holder warned: “@nsandihelp hello! I won a prize in April and it’s not been paid into my bank account or reinvested. I had the pay into bank account option selected. Can you advise”
A second said: “Have you reinvested my £50 win? I cannot see that it is reinvested or paid into my account Kind regards” And another said: “My son won a small prize but it hasn’t been reinvested or paid.”
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Another asked: “Hello NS&I I won £100 last month (July) I had thought it would have been reinvested by now but nothing has happened yet does it normally take over a month to show as a reinvestment ? Julie”
NS&I responded: “If your prizes are reinvested, they get added within the first 7 days of the prize draw. If you still have not had this, please call us so an agent can look further into this for you. Ciaran.”
It also carries separate advice and guidance on its website. An NS&I spokesperson said: “Premium Bonds customers can choose to receive their prizes in several different ways.
“This includes being paid directly into their nominated bank account or automatically reinvested into more Premium Bonds. It maybe that on this occasion the person had changed their preference to auto reinvestment after their prize had been drawn.”
The new Bonds will qualify for inclusion in the draw for the month after the date of purchase. Bonds will be treated as being bought on the first day of the month in which the prize was won and will be subject to the terms and conditions current on that date.
Reinvested prizes are subject to the holding limit of £50,000. For children under 16, a mandate may be given by a parent or guardian who controls the original Bond for the child. The mandate will apply to the child’s total holding of Bonds.
Any payment in respect of the Bonds will be made to the parent or guardian. A mandate will be treated as cancelled when the child reaches the age of 16.