Question about transferring money into premium bonds account

[Summerof22]

hello,

I wonder if someone can help me.

short version: can money only be transferred from an account in my name?

longer version:

I opened a PB account last month, easy peasy, all straight forward.

My husband has some money saved for our daughter’s education and we decided to put it into my PB account.

Yesterday, my husband made an initial transfer of 1K, he’s always very paranoid about things going wrong and wanted to transfer this amount as a ‘test’.

this amount has just shown up back in his account as ‘reversed’.

should he have made the transfer to my account and then I should have moved it to the PB myself?

he initially suggested that but I though why do two transactions when it could be done in just one.

we have a different surname so I guess this may have raised a red flag?

thanks!

My mum regularly puts money into DD's PB account with no issues. Maybe his bank flagged it as an unusual transaction?

You can only buy for children in another name as far as I know. He will need to transfer you the money and you put it in the bonds yourself.

Also remember when you come to withdraw funds to give yourself at least a week to allow it to process 🙂

Thanks, we’ll do it from my account tomorrow.

Yes it needs to be from an account with the name and address matching what premium bonds have for you.

We had a similar issue as DH had forgotten to change the address on his account when we moved house