A man with old Premium Bonds has had trouble adding them to his online account.
Twitter user @sueballagher contacted NS&I as her dad was trying to open an online account to then add his paper Premium Bonds from the late 1950s and later 1970s.
She asked the provider: “Are the older paper Bond numbers automatically added to his account or will he have to add them separately?”
NS&I asked her if their dad was using his holder’s number from the old Bonds, and she said she tried this but “it’s not working”.
She also asked: “He was wondering when he opens an online account and bought more Bonds he could add his older Bonds to it or would they be added automatically?
NS&I then told Sue her dad would need to write to the provider to ask for the old Bonds to be updated and added to the online account.
Another long-time saver recently contacted NS&I as they had never won in the monthly prize draw despite holding Bonds for 55 years.
They wanted to know if older Bonds become obsolete and the provider assured them this is “absolutely not” the case.
The odds of winning are increasing from the August draw, with the prize fund rate increasing from 3.7 percent to four percent.
The chances of winning are going up from 24,000 to one to 22,000 to one, with an extra £30million in prizes to be added to the winnings.
A person can increase their chances of winning by buying more Bonds, and a saver can have up to £50,000 in Bonds.
People often choose to reinvest their winnings to buy more Bonds and increase their chances of winning again.
Each monthly prize draw includes two jackpot prizes for £1million and other large prizes including £100,000 and £50,000.
But savers should note it’s still down to luck whether or not they win or not, so a person may go many months or even years without winning anything.
The Premium Bonds scheme launched in 1956 and any £1 Bond as far back as when the savings option began could win a cash prize each month.
For the latest personal finance news, follow us on Twitter at @ExpressMoney_.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
