Older Premium Bonds Holders Urged to Claim Unclaimed Winnings

Premium Bonds holders are being urged to provide essential information to the National Savings and Investments (NS&I) to assist in tracing over 2.6 million unclaimed prizes, which collectively amount to £106 million. While NS&I automatically distributes most prizes, older Premium Bonds require direct action from holders, as explained by financial experts.

The Money Saving Expert team, led by well-known broadcaster Martin Lewis, emphasized that an unclaimed prize is defined as one that has not been claimed within 18 months of being awarded. This means that there are likely additional prizes from the past year and a half that are also waiting to be claimed.

To begin the claim process, registered users of NS&I’s online and telephone service can contact the helpline at 08085 007 007. It is important to note that online claims are not allowed. Those who are not registered for these services must send a written request to NS&I at the following address: NS&I, Sunderland, SR43 2SB. The organization advises that the more detailed the information provided, the easier it will be to trace any unclaimed prizes.

To facilitate this, the Money Saving Expert suggests supplying six key pieces of information: the Bondholder’s number, current name, any previous names, current address, any previous addresses where bonds may have been registered, and signature. Once the claim is verified, prizes will be sent to the holder’s home address in the form of a warrant, similar to a cheque.

According to the information provided by Money Saving Expert, NS&I claims that it attempts to contact every winner through text, email, or post, depending on the preferred method of communication. However, some prizes remain unclaimed due to issues such as lost letters or outdated contact information.

The option to receive winnings directly into a bank account was introduced in 2011, which means that holders of older bonds—those purchased before this date—are more likely to have unclaimed prizes. Nevertheless, it is advisable for all Premium Bonds holders, regardless of when they purchased their bonds, to check for any outstanding winnings.

With millions of pounds in prizes waiting to be claimed, this is an important reminder for older Premium Bonds holders to take action and ensure they do not miss out on their potential winnings.