NS&I issues reminder that way Premium Bonds prizes are paid is changing from spring 2021

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NS&I issues reminder that way Premium Bonds prizes are paid is changing from spring 2021

The phased migration was due to begin in December 2020, however this was later postponed until Spring 2021.NS&I is now reminding members of the

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The phased migration was due to begin in December 2020, however this was later postponed until Spring 2021.

NS&I is now reminding members of the public about the withdrawal of prize warrants, but reiterating it will not begin until the spring of 2021.

Today, NS&I said that “customers do not need to take action now and can do so at a later date”.

Those who will need to provide NS&I with their bank account details for this switch may wish to know there are several ways they can do this.

Customers who are already registered for NS&I’s online and phone services can input their bank details by logging into their account on NS&I’s website.

The government-backed savings provider directs them to go to ‘Your profile’ and select ‘Your prize options’.

They should then choose whether they would prefer to have prizes paid directly to their bank account, or to opt for them to be automatically reinvested into more Premium Bonds.

Savers who aren’t registered can use NS&I’s new prize options service, which consists of a secure three-stage process.



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