Logging into your account online, which is available 24 hours a day, is the simplest way to sell or cash in your NS&I Premium Bonds.
If you applied for the bonds online, you’ll already be registered, so all you’ll need is your information. These will include your NS&I numbers as well as the password you’ve created.
On the right-hand side of the screen, once you’ve logged into your account, you should notice an option to ‘cash in’ your Premium Bonds. On the screenshot below, we’ve circled it.
Following that, you’ll be asked if you want to cash in your oldest bonds first or not, and then whether you want to postpone your payment until the next prize draw.
You’d have to wait until the beginning of the next month to get your money back if you chose that choice. If you choose to obtain it right away, NS&I claims the money will be in your designated bank account in three working days.
If you bought your bonds online, your bank account information should already be in the system, so you won’t have to do anything further.
How to cash in NS&I Premium Bonds by phone
If you prefer not to use the internet, you can easily cash in your NS&I Premium Bonds by calling the NS&I phone number.
You are already registered if you applied for the bonds over the phone. Simply dial 08085 007 007 to reach us.
Filling out the Premium Bonds Cash In form
You can withdraw your money by filling out the Premium Bonds Cash In form if you didn’t apply for your Premium Bonds online or by phone.
Simply check the appropriate box in section three of the form to indicate how many bonds you want to cash in.
Simply specify the beginning of the range of numbers in section four if you wish to cash in a specific set of Bond numbers.
If you leave section four blank or check ‘No,’ NS&I will cash in your oldest bonds first.
How will I be paid for my Premium Bonds?
The sixth section of the form is where you specify how your Premium Bonds will be paid out.
You can get cash by direct deposit into your bank account or by sending a warrant, which is similar to a check, in the mail.
According to NS&I, processing your request generally takes eight working days from the time it is received (unless you opted to defer the payment until after the next prize draw).
If you haven’t received your payments by then, contact NS&I ideally by phone at 08085 007 007, as tweeting and emailing can be risky. Here’s where you can learn more about contacting NS&I.
Don’t know what to do with your savings once you’ve cashed your bonds? Check out our full list of places you can get the best deal on your money.
Best time to sell your Premium Bonds
If you don’t have to sell your bonds right away, consider when the best time is to get rid of some or all of your holdings.
This manner, your holdings will have one more chance to win big in the monthly draw before being withdrawn.
Is it possible to redeem premium bonds over the phone?
Children’s Bonds are intended to be kept for the entire 5-year period. The person in charge of the Bond can cash it in at any time throughout the period.
You can also cash in before then, but we’ll deduct a penalty equal to 90 days’ interest on the amount cashed in from your payout.
To keep a Bond open until maturity, you must keep at least £25 in it when you cash in part of it.
Keep in mind that if you cash in a Bond in its whole within 90 days of renewing it, you will receive less than the renewal value.
How long does it take to redeem Premium Bonds?
What is the time frame for redeeming Premium Bonds? Unless you have chosen to cash in after the next draw, it can take up to three banking days for the money to reach your account, according to NS&I.
How can I cash in my premium bonds through the internet?
- Go to your account dashboard and select ‘Cash in’ or ‘Take money out’ for the account you want to close.
- Select the account you want to close if you have more than one of the same kind.
- Choose ‘Cash in’ or ‘Take money out’ after entering the full balance in the amount box.
Not a member yet? You can withdraw your money and end your account for certain of our products by filling out a brief online form without having to create an online profile. Make sure you have your account information handy.
Please note that in order to withdraw and close the account, you must be the person responsible for the child’s Premium Bonds.
Is there a way to get money out of premium bonds?
Log in to cash in your or your child’s Premium Bonds if you’ve already registered:
Premium Bonds can also be cashed online without the need for an account. If you wish to cash in certain Bonds or if you aren’t registered, this is the way to go.
You’ll need your account number and bank account information. If you want to cash in specific Bonds, please have your Bond record handy.
You’ll need the holder number for your youngster as well as the information for your bank account. If you’d want to cash in specific Bonds, please have your child’s Bond record handy.
What is the Premium Bonds phone number?
Every day from 7 a.m. to 10 p.m., we’re here. Calls from the United Kingdom are free. We may record your call in order to provide you with the best service possible.
Simply dial 18001 from your textphone and then input the phone number you want to call to use the Text Relay Service. When the phone is picked up, a Text Relay operator will join the conversation and relay your written request to us.
What is the procedure for cashing in my deceased father’s Premium Bonds?
They can, however, stay in the monthly Premium Bonds draws for up to a year after the client has passed away.
After the 12-month term has passed, the face value of the Premium Bonds, as well as any prizes won during that time, will be reimbursed to the dead customer’s estate.
To retain the Bonds in the draw, the person in charge of the deceased customer’s money should indicate this on the death claims form.
Any Premium Bonds awards won will be paid via prize cheque to the person entitled to the money – the estate’s executor – after the prize draw.
Any unclaimed awards will be held until the death claim is processed, after which they will be distributed.
Following the completion of the death claim, we will send any future prizes earned by check to the individual who is entitled to the money.
We are unable to award these prizes online or to consolidate and pay them at the end of the year.
What happens to premium bonds when someone dies?
Any rewards won will be paid by warrant (like a cheque) to the person entitled to the money when we’ve processed the claim once we’ve received notification of the customer’s death. Any prizes the customer wins before then will be held and sent once the claim is finalized. Then, after each prize draw, we’ll send any future prizes earned by warrant to the person who is entitled to the money.
After you die, how long can you keep premium bonds?
Bonds from Premium Bonds will be kept in each prize draw for up to 12 months after the customer’s death. You must send the Bonds to us, along with the completed claim form, to keep the Bonds invested.
What happens to Premium Bonds when the owner dies?
Premium Bonds cannot be inherited or transferred to another person’s name in the same way as funds from bank accounts and savings accounts can.
Instead, if you’re administering someone’s estate and need to deal with their Premium Bonds, you have two options. The first option is to sell them while they are still in the probate procedure. If you do this, the proceeds from the sale will become part of the estate and will be passed down to the beneficiaries after the estate administration is finished. This is the quickest way for Premium Bond beneficiaries to inherit money.
The alternative is to leave them alone for the time being. NS&I can keep Premium Bonds for up to 12 months following a person’s death. They are still eligible for monetary rewards throughout this time. The executor of the estate or a specified beneficiary can contact NS&I after 12 months to claim the rewards and cash out the Bonds. This will postpone the inheritance of wealth, but it may result in greater money in the end. As the executor, you should consult with the beneficiaries who will receive the estate’s funds to determine which option is best for their individual circumstances.
Is there an app for NS&I?
Premium bond checker is a utility tool that allows you to verify the outcomes of NS&I premium bond draws for numerous accounts on your mobile device. The updated software is now available for Android’s latest versions, and it will soon be available on the iOS app store.