Millions of Premium Bonds savers could be missing out on prizes worth tens of millions of pounds, and NS&I doesn't know the names of the winners of hundreds of prizes.
There are a total of 2,305,227 prizes worth £80,396,875 which were won 18 months or more ago but were unclaimed as of October last year, NS&I data shows.
The government-backed savings provider said there are 740 unclaimed prizes worth £30,500 which were won 18 months or more ago by bondholders whose names are unknown.
While NS&I contacts savers when they win a Premium Bonds prize, sometimes the prizes go unclaimed.
NS&I contacts savers when they win a Premium Bonds prize, but sometimes the prizes go unclaimed
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This could have happened if a person moved but didn't tell NS&I, changed some personal details or the letter didn't arrive in the post.
NS&I has told customers: "You never need to worry about an unclaimed prize. We’ll hold on to it until you get in touch with us. And there’s no time limit to make your claim."
To check for unclaimed prizes, customers can use the NS&I Premium Bonds prize checker.
Savers can also view their prize history online by logging into their account on the NS&I website.
Another option is to write to NS&I asking for one's prize history.
Customers should include their name, address and NS&I number or Premium Bonds holder's number.
The government-backed savings provider will then send a list of any prizes the customer has won.
Customers can now opt to get prizes paid automatically paid into their bank account or reinvested into Premium Bonds, rather than receive the prize by cheque in the post.
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The savings provider said it is a “quicker and more secure” option compared to a prize warrant.
NS&I will release some details about the Premium Bonds prize winners for January 2024 tomorrow.
The Premium Bonds prize checker app will then be updated the following day - the day after the first working day of the month.
