NS&I delays scrapping of Premium Bond paper prize cheques
I currently get paper prizes – what do I need to do?
NS&I says almost three quarters of prizes paid out in September 2020 were paid directly into bank accounts or reinvested into Premium Bonds.
If you still receive paper warrants, you’ve now got longer to move things over, but it’s still worth doing it sooner rather than later if you can.
- Make sure you’re registered for NS&I’s online and phone services. You can do this online, or those without internet access can also phone 08085 007 007 to register or provide NS&I with their bank details.
Alternatively, customers who do not want to register for NS&I’s online and telephone services and can provide their bank details to NS&I either online or by phone, by calling NS&I on 08085 007 007.
- Choose how you want your prizes to be paid. You can log in to your account and choose to have your prizes paid directly to your bank account or reinvested (up to the maximum of £50,000) by going to ‘Your profile’ and selecting ‘Your prize options’. You’ll need to input your up-to-date UK bank details, as well as an email address or UK mobile number so you can be notified about any prizes.
If you don’t provide NS&I with your details and later win a Premium Bond prize, instead of a prize warrant you’ll be sent a letter with details about how to arrange the payment of your prize.
Remember, NS&I will NEVER phone you and ask for your bank details, so if this happens to you it may be a scam.