NS&I explains ‘best way’ to check Premium Bonds prizes as £89.6m goes ‘unclaimed’ (Image: Getty)
has explained the “best way” Premium Bonds savers can check if they’ve won a prize as millions of pounds are currently going unclaimed.
According to the savings institution, 2,473,761 unclaimed prizes worth £89,696,075 are still waiting to be snapped up.
NS&I savers can win sums worth anything between £25 and £1million every month through randomly generated prize draws, so it’s worth people checking their numbers.
winners are usually notified when they win a prize, but if they move or change their contact details without updating NS&I, prizes can go unclaimed.
Explaining the best way to check for prizes to avoid missing out, Dax Harkins, NS&I chief executive, said: “With millions of prizes drawn monthly, remain a popular way to save while continuing to offer the thrill of potential tax-free wins. Remember, the best way to check if you’ve won this month is by using our app, website, or Alexa.”
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More than two million Premium Bonds prizes still need to be claimed by NS&I savers. (Image: Getty)
The quickest way to check for unclaimed prizes is to use or the NS&I .
Customers will only need their holder’s number or NS&I number.
November saw two winners in Warwickshire and Cornwall snap up NS&I’s maximum £1million prizes.
In just these two areas, there are currently 17,129 unclaimed prizes worth £600,975 in Warwarkshire, while 20,530 prizes with a total value of £724,075 are waiting to be claimed in Cornwall.
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The largest unclaimed prize in Warwickshire is worth £10,000 from the January 2005 draw.
While in Cornwall, the largest unclaimed prize is £25,000 from the September 2019 prize draw.
According to NS&I, the “fastest” and “more secure” way to receive prizes is to opt for automatic bank deposits or reinvestment into more , which is how 90 percent of prizes are handled.
Customers can find instructions on how to change payment preferences .
Another way customers can prevent prizes from going unclaimed is to ensure they constantly update NS&I with any changes to their details, such as their email address, phone number, name or address.
NS&I is among the UK’s largest savings organisations, backed by HM Treasury, and serves over 24 million customers with a variety of savings and investment options.
All prizes are free of UK Income Tax and Capital Gains Tax.