- 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.
How long does it take to get money out of a premium bond?
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 get my gains from premium bonds deposited into my bank account?
Cheques may not arrive until the end of the month through the mail. If you haven’t gotten your check by the end of the month, please contact us and we’ll send you one.
Premium Bonds reward cheques expire after three months for security reasons. Don’t worry if your check has expired; simply ask us for a replacement.
To avoid issues like these, you can have your wins sent directly to your bank account or reinvested into additional Bonds – both of these options are quick, easy, safe, and environmentally friendly ways to get your money.
How can I get into my NS&I account?
To log in, use your details if you have an NS&I account in your own name. If you don’t have an NS&I account, simply input the holder’s/account number of the donor’s account, as well as your own name and address. The donor’s accounts and investments will subsequently be added to your online dashboard.
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 happens to Premium Bonds after someone dies?
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 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.
How do I claim Premium Bonds that have expired?
Financial experts have told us that they suggest Premium Bonds to their clients 86% of the time.
Over 1.4 million clients have invested more than £30,000 in Premium Bonds, with over 670,000 of them having invested the maximum amount of £50,000.
Access to Premium Bonds prizes
We understand that your clients are going through a difficult period, but we can assure you that they will always be able to access their Premium Bonds awards.
NS&I prize cheques are valid for three months for individuals who have not decided to receive prize monies directly into their bank accounts; however, certain banks will accept them for up to six months.
If your client’s prize cheque has run out, have them phone our customer service line at 08085 007 007 and we’ll issue them a new one.
Other useful tips
Our prize checker app is the easiest way for your customers to find out if they’ve won. It will display them the rewards for this month, as well as any prizes they’ve won in the previous six draws and any prizes older than 18 months that they haven’t claimed since their Bonds were initially submitted into the draw.
Premium Bonds awards for youngsters under the age of 16 can now be deposited straight into the bank account of their parent or guardian.
How will Agent Million deliver the £1 million prizes?
Agent Million usually pays a personal visit to the prize winners to inform them. Agent Million, on the other hand, will not be knocking on their doors in the current conditions. Instead, Agent Million will contact the lucky winners in a variety of ways to inform them of their good fortune.
Please keep in mind that your clients’ funds are completely protected, even if they exceed the FSCS limit.
Is it possible to withdraw funds from my investing account?
Withdrawing money from an investment account has no “penalties” in terms of taxes. This is due to the fact that investment accounts are not tax-sheltered in the same way that retirement accounts such as an IRA or a 403(b) are (b). There are no restrictions on when you can withdraw money from your investing account based on your age.
If your funds earned money, you may have to pay capital gains taxes when you withdraw from your investment account. If you decide to leave, GuideStone will send you a 1099 form to utilize for tax filing before the deadline.