Premium Bonds pensioner frustrated as she can’t cash in £1,100 – NS&I responds | Personal Finance | Finance

A Premium Bonds customer was frustrated in her efforts to cash in £1,100 in Bonds.

A man took to X to share his wife’s ordeal. He said in a message to NS&I: „My wife would like to cash in her Bonds worth £1,100 she needs the money but we were given just two options, online or by filling a form by post.

„She’s 69 and had difficulties why can’t we do it by phone, our numerous attempts by phone has failed, any help on offer.“

The provider responded to tell the customer that they could do the transaction over the phone. A representative said: „Of course you can do this by phone, we have advisors ready and available for you.

„If your wife is registered for the Online and Phone service we will be able log her in and complete the withdrawal with her.“

Savers can cash in their Premium Bonds at any time. Guidance on the NS&I website states: “ If you’re registered to manage your savings online or by phone, simply log in or call us.“

A person can withdraw from their Bonds without registered by filling in an online form.

You can also cash in specific Bonds if you want particular ones to stay eligible for the monthly prize draw. For more details about how to do this, visit this webpage.

Each £1 Bond has an equal chance of being selected for a prize, including one of the two £1million jackpot prizes in each prize draw.

Another customer recently contacted NS&I concerned that they had not won anything in the June draw.

They said: „What went wrong with the June draw. Neither myself or any of my immediate relatives or friends won a penny.

„Very unusual indeed. Have you reduced prizes?“

The provider responded to explain the situation: „We have not reduced the amount of prizes in June’s draw.

„ERNIE (our Electronic Random Number Indicator Equipment) generates numbers completely at random.

„While ERNIE randomly generates winning numbers, he doesn’t store any numbers, so there’s no way any Bonds can be left out of the draw.

„We match the numbers generated against eligible Bond numbers to determine the lucky winners.

„Every Bond number has a separate and equal chance each month of winning a prize. The more Bonds you hold the better your chances of winning.“

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