PREMIUM BOND THREAD

[Blondeshavemorefun]

Thought better start new one as last one almost full

Let’s hope we win big November for Christmas

Bit late reporting this month as we've been away on holiday. £25 for us on full holdings. We've got some way to go to make 1% , however, like others we enjoy the anticipation.

I am just about to place DS savings into premium bonds. There are so many negative reports on the internet regarding people not being about to drawn money from NS&I before I hand over his money had anyone had similar problems. Thanks

When you set up the account you set up a link to your current account, when I have requested money back it always takes just a day to transfer, but maybe allow 2 days to take account of time of day, weekends etc?

Never had a problem, but I've not done on behalf of a child, not sure if that makes any difference.

Thanks you Pemba. People were suggesting it was taking months to get any funds back. I am set myself an account up to test it

@Headred

Thanks you Pemba. People were suggesting it was taking months to get any funds back. I am set myself an account up to test it

I withdrew some this month and it was in my bank within 3 days.

Very new to this and have always throat about bonds but don't have much to put in. Is it worth it if I only have 1k?

@tistheseeson, it's a decent place to store savings that you might need access to. It's worth looking at the Money Savings Expert website, as the balance depends on current savings rates versus Premium bond rates.

Thanks will check it out.

@tistheseeson, it's also good fun looking forward to the draw and checking it every month 🙂.

I agree with @MsEmmeline. Premium bonds aren’t my most lucrative investment, but they’re certainly the most fun!

@Headred

I am just about to place DS savings into premium bonds. There are so many negative reports on the internet regarding people not being about to drawn money from NS&I before I hand over his money had anyone had similar problems. Thanks

There has been problems on and off, eg when they've dropped the rate and there's been a bit of an exodus.

It's also probably the case that there could be delays if you don't do everything electronically and need a cheque issuing, which of course could then get lost or delayed in the post.

But I had to withdraw a chunk a few months back to buy a car and I had the money in under a week. I think it's stated as 2/3 working days, but obviously weekends and BHs don't count.

@tistheseeson On that amount, you're basically gambling quite a small amount of interest. In a savings account, you'd get about £8 a year at best. With PBs, you could well win nothing, but you could also win £25 or even a lot more. It's not so long since someone with £1k won a very big prize. I can't remember if it was the million, or 'just' £100k, but either way, they were very very lucky, so you might decide it's worth giving up a guaranteed £6-8 a year in interest for the chance of a bigger prize.

It’s the thrill of omfg I might win a million

Tho more then likely be £25

Or nothing 😂

Could I ask what is the safest way to make the deposit. With my practice £25 deposit I paid with a debit card. Is a bank transfer a safer way to transfer a greater amount? Thanks

I usually do bank transfer

How easy is it to apply for the first time? Do you have to upload documents?

@Headred, I've worried about this before too 😄. I've done both - paid directly with my debit card, everything updates instantaneously, lovely. And paid by bank transfer, takes a few days to update, totally stressful as it was a relatively large amount.

Although it wouldn't be a huge amount @MsEmmeline it would be all of DS savings. Sitting waiting for it to update may just be too much for my nerves. I am sure I will have to do a few more £25 tests before I commit one way or another

@Headred, can you just do it by the debit card route?

Do you have a secure banking app for your current account? There are checks built in. I have transferred thousands at a time by debit card from bank to NS&I with no problems, and it seems to be quicker than a bank transfer. Seems secure to me. Maybe break it into chunks, but £25 at a time seems unnecessary.

Yes i have done it via Debt card and do have secure app with Nationwide. Wasn't planning on doing it all in £25 chunks was just going to test both ways. Just wondered if one was more secure than the other. Thanks for your help

Just found out (keep forgetting to check) we got 2x£25 on 35k. Doing well this year.

Just bumping to get excited now Christmas has gone

I shall start the year again to total winnings for 2022

This year I won £200

Jan 25
April 2 x 25
June 2 x 25
Sept 25
Oct 25
Nov 25

When is the draw?

@fluoropostit

When is the draw?

Not for about a week 😂

@fluoropostit

When is the draw?

5th January 🤞