National Savings and Investments (NS&I) is facing calls to help bereaved households connect with their loved ones "lost" Premium Bonds by a leading consumer watchdog.
Which? has called on the Government-backed back to register with bereavement notification systems that could help families claim millions in forgotten Premium Bond winnings.
The organisation wants the savings provider to enrol in either the Government's Tell Us Once programme or the private Death Notification Service.
These systems aim to streamline the administrative burden following a bereavement by allowing families to inform multiple organisations simultaneously.
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Consumer rights groups are calling for NS&I to take action over 'lost' Premium Bonds
|GETTY / NS&I
Sam Richardson, deputy editor of Which? Money, believes NS&I could lead by example in making these difficult processes easier for grieving families. The push comes as billions remain unclaimed in Premium Bond accounts across Britain.
Recent figures reveal that more than 2.5 million Premium Bond prizes remain unclaimed as of June 2025, with a combined value exceeding £103million.
Among these forgotten winnings are eleven jackpots worth £100,000 each, nineteen prizes of £50,000, thirty-eight worth £25,000 and seventy-five prizes valued at £10,000.
Despite these outstanding amounts, NS&I maintains it has distributed more than 99% of all Premium Bond prizes to winners since the scheme began in 1957.
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Millions in Premium Bonds prizes goes unclaimed
| GETTYThe organisation has encouraged customers to register for automatic bank transfers and ensure their contact information remains current to avoid missing out on potential winnings.
NS&I has stated it does not participate in the Tell Us Once programme, explaining that the service primarily connects Government departments handling benefits, passports and pensions rather than financial investments requiring direct executor contact.
Previously, the organisation acknowledged the challenges families face during bereavement and emphasised its commitment to simplifying processes during such difficult times.
During the 2024-25 financial year, NS&I successfully reunited more than £166million with account holders who had lost contact with their investments.
This included over £120million in Premium Bond savings and unclaimed winnings, £11.4million from vintage savings certificates and £1.3million from historical children's bonus bonds.
Financial comparison expert Caitlyn Eastell from Moneyfactscompare.co.uk highlighted that Premium Bonds operate as a lottery-style investment where many savers never receive prizes. She stressed the importance of maintaining current contact information to prevent missing potential winnings.
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Premium Bonds holders can check to see if they have won a prize via the Premium Bonds prize checker app | NSI"There is no need to panic if savers have forgotten or lost their Premium Bonds," Ms Eastell said, noting that NS&I's online tools and mobile application allow holders to check for unclaimed prizes using their unique identification numbers.
However, she warned that locating bonds gifted to others or belonging to deceased relatives presents greater difficulties, often requiring direct communication with NS&I to resolve ownership issues.
A spokesperson for the financial institution said: “NS&I is not currently part of the Government’s Tell Us Once service, which focuses on updating government departments that provide services such as benefits, passports and pensions, rather than banking services and investments, which often require more individualised contact with executors.
"We recognise that dealing with bereavement can be challenging and are committed to making our services as easy to use as possible, especially during difficult events such as the death of a loved one."