NS&I has warned millions of Premium Bonds holders they need to get their requests in before 1pm if they want funds in their account the next working day.
They said: “It’s still not in my bank and I’m running out of money. What’s the hold up? You told me I’d have it by now so want to check what’s happening.”
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An NS&I spokesperson said: “We are not experiencing any delays to Premium Bonds repayments. Withdrawals made online or by phone will typically take two working days to reach the nominated bank account.”
The payment will normally reach your account by the end of the first banking day after the day we receive your instruction. But it works differently for post.
NS&I says: “If we get your instruction on a banking day before 13:00, we’ll process it on the next banking day. The payment will normally reach your account on the banking day after that. If we get your instruction after 13:00 on a banking day, or on a weekend or bank holiday, we’ll act as if we received it on the following banking day.
“The same timescales apply to further withdrawals from any of these accounts on the same day, as long as the total you withdraw is no more than £50,000.”
It also has advice for multiple withdrawals from your Direct ISA, Direct Saver, Income Bonds and Investment Account totalling more than £50,000 in one day.
“When we get your instruction on a banking day before 20:00, we’ll process it that day. The payment will normally reach your account two banking days after that. If we receive your instruction after 20:00 on a banking day, or on a weekend or bank holiday, we’ll act as if we received it on the following banking day,” it says.
“When we get your instruction on a banking day before 13:00 we’ll process it on the next banking day. The payment will normally reach your account two banking days after that. If we get your instruction after 13:00 on a banking day, or on a weekend or bank holiday, we’ll act as if we received it on the following banking day.
“The same timescales apply to further withdrawals from any of these accounts on the same day.”