PREMIUM BONDS 2023

[Blondeshavemorefun]

Thought do a new thread as other is nearly full

lets hope for lots of wins for us all

there are more prizes of 50&100 but less of £25

Slithy my fwiw is that the R in ERNIE is Random and the computer where ERNIE hangs out picks the numbers randomly from the total PB numbers available across the UK.

If you have several family members each with a holding then the person with the larger holding has the higher likelihood in your family of winning. Squabbles (figuratively or otherwise could come about from pooling the numbers of all family members as everyone disagrees over whose numbers got the prizes.

Much more tidy and harmonious to keep them separate.

Well done @yellowhedges

But don't you check while away

We go away may /June

And I always check on holiday

Pretty sure it's random. In our family the luckiest one has 40000. He's had some decent ones. Like a 500 a couple of years ago and 3 x 100s last month!...plus a 50 and a 25!

You could divide the prizes between everyone? Or just reinvest until you fill up to full holdings?

A rubbish month for us, £25 for DH on FH, and nothing at all for me on £47,000! Our best ever month, about 3 months ago, we got about £400 between us.

I won't give up on them though, but if it keeps happening I might change my mind.. . Hard to give up the faint possibility of the million though! And I like the way it's all tax free.

We've got £41k across the family now and won 1 x 100 and 1 x 25 this month between us. Bit of a disappointment after the £1250 but reading these posts shows that that's not typical, just was our first month so I got very excited!

Aah for context it's all technically my money and the kids have no idea the accounts exist, they are in primary. Prizes all get reinvested.

Just don't want to avoid a prize winning advantage if I'd be better off having it all in my name!

I put £9k in one for DD in October and not a single prize since then, a bit disappointing.

I have almost FH in an account in my name since August and since then have won £475, so broadly 2% return if trend continues. Could get more elsewhere now of course but given this us tax-free and has the lure of a big win will probably hold

What do you do if dd wins a million? Unless you're at fh I would keep them together. YOU could choose to share it out but one day your dd would see the account details and might think differently about that...

@Lovinmyblanket true, and this isn't their money in any shape or form other than I opened the premium bond in their names.

Best to keep it simple and in my name.

Though tbh I'd be gutted if I raised a child who had a problem with her parents keeping a prize under those circumstances.

Is there anyone who would give a massive life changing prize to one child (rather than sharing or using it as family) because the bonds were in their name?

Under the circumstance that they wouldn't have had premium bonds were it not for you?

I couldn't imagine a million sat for one child put away while we struggled to pay for school for the other.

I'm mentioning the legal side of it though - at some age (16?) they'd have control over their own bonds and may have had a big fall out with other family members - or it can be large sums of money that leads to a fall out! The inheritance threads on mumsnet suggest this is true 😂

I have removed all but my daughters personal money from her bonds, now that she is about to take it over. I feel 16 is too young to receive a large amount of money

Yes so as mentioned my kids are in primary and this money is only theirs in name, it came from my savings account.

I've a feeling if the winning recipient doesn't get it they can sue you! At the end of the day, adults are only trustees/nominees for the child. They may be upset if you shared their million with two irritating siblings because you love them all equally!

My two both agreed to share anything over 1000 which never happened. I'm not sure on the legality of it though if they were under 16.

hello, hope you don’t mind me hopping on here! A lot of people have mentioned this but I don’t really know where to start! I currently have £18k in a cash isa , is it worth buying some premium bonds with some of it? That money is currently getting about £10 a month interest in my ISA (just recently gone up a lot with the change of interest) Is premium bonds completely low risk/instant access? So I would have nothing to lose? Thanks so much!

It's totally risk free

But you may not win anything on that so tech losing ) £120 a year interest

your Capital is protected but you’re gambling the interest. I would look at switching isas first that’s a very poor return. If you had that in the market best cash Isa you’d be getting £30 per month interest.

I personally think premium bonds are only worth it if you have the amount to invest which puts the odds of getting the interest rate as a mathematical certainty, which if I remember correctly is £32,000

This is all true. But it’s fun to press the button on the app and win money….

3 x £25
£100
and £5,000!!!!
Never had a win over £100, was a bit of a WOW moment when I scrolled through - the £5k was the last one.

Wow, @Chasingsquirrels, congratulations! That's amazing. Will you save or splurge, or a bit of both?

Wow thats amazing!!! Congratulations 👏

Omg @Chasingsquirrels

Def this months winner

Congratulations !!!

Wow! That's brilliant!! Hope this isn't too rude to ask but wondering how much you have invested in PB?

Me too! I hardly ever win but I have only got £20k or so. I bought £100 the other day and got a message asking for my feedback on the process and premium bonds in general. I wrote that I wished there were more lower value prizes so it might be worth your writing to them too.

Great win! Well done.