Not a member yet? You don’t need to create an online profile to withdraw money from your or your child’s Premium Bonds. All you have to do is complete a little online form. Make sure you have access to your account information.
Please note that in order to withdraw or close the account, you must be the person responsible for the child’s Premium Bonds.
You can withdraw money from Premium Bonds while ensuring that particular Bonds remain in the draw by filling out a form online.
A cashing in form can also be downloaded, printed, and completed. Then send us your completed form along with the Bond certificates that need to be cashed in (if you have them).
When my child turns 16, what happens to their premium bonds?
Premium Bonds might be a unique gift for a child under the age of 16. Regardless of who purchased the Bonds, the parent or guardian specified on the application is responsible for them until the kid turns 16.
Until the child turns 16, we’ll email confirmation of any transactions performed, prizes earned, and payment for cashed-in Bonds to the selected parent or guardian.
Parents or legal guardians can submit an application online, over the phone, or by mail. If your child currently owns Premium Bonds and you want to purchase more online or over the phone, you must first register. While we set up your registration, this could take a few days.
You have the option of applying online or by mail. You may request that we send you an electronic or paper gift card to give to the youngster. We’ll also give you a confirmation of your purchase. The Bonds can only be managed and cashed in by the nominated parent or guardian.
- Please double-check that the parent/guardian is willing to take after the child’s investment and that you have their permission to give us their information.
- We’ll verify everyone on your application’s identity and address, and we may need to request documentation to prove it.
- Please inform the parent or guardian that we may contact them to request proof of identity documentation.
What is the procedure for redeeming my children’s savings bonds?
Savings bonds are popular gifts for young children, and grandparents often regard them as a good opportunity to invest in their grandchildren’s future. However, in some situations, parents will want to spend the earnings from savings bonds while their child is still a minor. In that instance, the parent must cash in the bond through US Treasury processes.
The Treasury distinguishes between paper savings bonds and electronic savings bonds. The Treasury permits parents to redeem their children’s paper bonds provided two conditions are met. To begin, the youngster must be too young to sign the payment request. Second, the child must either live with the parent or have legal possession of the child.
The Treasury recommends that you put particular language on the back of the bond and sign it as a parent on behalf of the child to redeem it. The following is the language used:
“I confirm that I am the parent of.resides with me / I have been given legal custody of.is years old and is incapable of making this request.”
If the parent takes the bond to a local financial institution ready to redeem it for him or her, the institution can pay the parent directly. If the bond is not redeemable at the local financial institution, the parent must have the signature guaranteed or attested before sending the bond to the Treasury Retail Securities Site. The Treasury website has more information.
Is it possible for me to cash in someone else’s premium bonds?
You’ll have to cash in the bonds you want to give her and send her the money so she may put them to use. “If your niece is under the age of 16, she won’t be able to buy them for herself, but you can give the money to a parent, guardian, or grandmother, who will be able to buy them for her.”
What is the procedure for cashing a savings bond that is not in my name?
If you are not identified as the owner or co-owner on the bond, you must produce legal evidence or other documentation to establish you are entitled to cash the bond, regardless of where you cash it. (Legal evidence is not returned.)
It is important to note that savings bonds cannot be transferred. You can’t cash a bond that belongs to someone else or that you bought on an internet auction site. (See Death of a Savings Bond Owner if you inherit a bond through the death of the bond owner.)
To cash a savings bond, what documentation do I need?
If you want to redeem a paper E/EE or I bond, you’ll need a few items. You’ll also need confirmation of identity, such as a driver’s license from the United States. You’ll also need an FS Form 1522 that hasn’t been signed. They’ll see you sign the document and then certify your signature if you go to your local bank or credit union.
The unsigned bonds, along with the signed FS Form 1522 and, if you’re the bond’s beneficiary, accompanying legal evidence or other papers to indicate you’re entitled to cash the bond, should be sent to the US Department of Treasury at:
The same steps apply for series H or HH paper bonds, only you’ll ship the unsigned bonds to the US Treasury at:
Is it possible for a 17-year-old to purchase Premium Bonds?
Premium Bonds can be purchased by anyone who is 16 years old or older. On behalf of their kid or grandchild under the age of 16, parents, legal guardians, and (great) grandparents can invest.
No interest is paid on Premium Bonds. Instead, your Bonds will be entered into a monthly prize draw to win tax-free gifts.
Premium Bonds – the prize draw
Every month, almost two million awards are distributed to lucky Bond holders whose numbers are determined at random.
For every £1 you invest, you will receive a unique Bond number. Every month, each number has a separate and equal chance of winning a prize.
On the National Savings and Investment (NS&I) website, you may learn more, apply online, and check if you’ve won if you have Premium Bonds.
What is the time frame for redeeming 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.
Is it possible to manage my child’s Premium Bonds via the internet?
Anyone over the age of 16 can purchase Premium Bonds for a kid, but they must name someone to manage the bonds until the child reaches the age of 16. This is the’responsible person,’ and he or she must be a parent or guardian. The person filling out the application should inform their designated responsible person that they are purchasing Premium Bonds on behalf of a youngster. This is due to the fact that this person will be required to show proof of identification and residence for the child.
If you’ve been designated as a responsible person for your child’s Premium Bonds and have supplied proof of identification and residency, you can manage their Bonds online using your online account.