NS&I Customers Urged to Act Fast: If you’ve ever held a Premium Bond with National Savings & Investments (NS&I), there’s a chance that you could be one of the many people unknowingly holding an unclaimed prize. As of August 2025, over £105 million in Premium Bonds prizes remain unclaimed, with more than 2.6 million prizes just sitting there, waiting to be collected. These prizes range from as small as £25 to as much as £1 million. Whether it’s a minor win or a life-changing amount, it’s essential to check your bonds and claim your prizes before they go uncollected forever. This article provides all the details you need to understand how Premium Bonds work, how to check if you’ve won, and why millions of pounds worth of prizes remain unclaimed. We will also cover some tips on how you can ensure you never miss a prize again, alongside practical advice for managing your Premium Bonds.
NS&I Customers Urged to Act Fast
Premium Bonds offer a unique savings experience with the potential for exciting, tax-free prizes. With over £105 million worth of unclaimed prizes as of August 2025, it’s worth taking the time to check if you’re a winner. By keeping your contact details updated, registering online, and checking your prizes regularly, you can ensure that you never miss out on your share of the winnings. Whether you’ve been saving for years or are just starting, Premium Bonds are a fun and safe way to save and win.
| Topic | Details |
|---|---|
| Total Unclaimed Prizes | Over £105 million across more than 2.6 million prizes |
| Highest Unclaimed Prize | £100,000 (11 prizes) |
| Most Common Unclaimed Prize | £25 (over 1.8 million prizes) (thetimes.co.uk) |
| Prize Fund Rate (Aug 2025) | 3.6% (down from 3.8%) |
| Odds of Winning | Approximately 1 in 22,000 per £1 bond |
| How to Check for Prizes | Use the NS&I Prize Checker online, via the NS&I app, or through an Alexa-enabled device. |
| How to Claim Prizes | Winners are notified by email, text, or post. Ensure your contact details are up to date to receive notifications promptly. |
| Official NS&I Website | https://www.nsandi.com |
What Are Premium Bonds?
Premium Bonds are a unique savings product that is offered by National Savings & Investments (NS&I), a government-backed organization in the UK. What sets Premium Bonds apart from other savings products is that they do not pay interest. Instead, every £1 bond you purchase is entered into a monthly prize draw, where you could win tax-free prizes ranging from £25 to £1 million.
These prizes are drawn randomly by an electronic machine known as ERNIE (Electronic Random Number Indicator Equipment). This ensures fairness and transparency in how the prizes are selected.
Key Features of Premium Bonds:
- Tax-Free Prizes: All winnings are exempt from UK tax, meaning you get to keep 100% of your prize money.
- No Interest: Unlike other savings products, you do not earn interest on your Premium Bonds, but the chance of winning prizes is what makes them appealing.
- Safe & Secure: Premium Bonds are backed by the UK government, so your money is as safe as it can be.
- Monthly Draws: Prizes are drawn every month, with two £1 million jackpot prizes available to win.
How Do Premium Bonds Work?
Every £1 you invest in Premium Bonds buys one bond and enters it into the draw. For every £1 invested, the chance of winning a prize in any given draw is about 1 in 22,000 (for each bond). The prizes range from £25 to £1 million, and the total prize fund rate (the percentage of the total money in Premium Bonds that gets given away in prizes) is currently 3.6% per year as of August 2025.
The beauty of Premium Bonds is that there’s no limit to how many times you can win, meaning that if you have more bonds, you increase your chances of winning. If you have 1,000 bonds, your chances are better than if you have just one. However, keep in mind that the odds of winning any prize remain the same for each individual bond.
NS&I Customers Urged to Act Fast: Why Are Millions of Premium Bonds Prizes Unclaimed?
In August 2025, it was reported that over £105 million in Premium Bonds prizes remain unclaimed. But why do so many prizes go unclaimed? Here are a few reasons:
- Outdated Contact Information: One of the most common reasons for unclaimed prizes is that people forget to update their contact details with NS&I. If you change your phone number, email, or address without informing NS&I, you may not receive notifications about your prizes.
- Prize Warrants (Cheques) Lost or Misplaced: Some winners may receive a cheque or prize warrant by mail, but if they don’t receive it for any reason, or if the cheque is lost, their prize remains unclaimed.
- Forgetting to Check: Many people forget to regularly check if they’ve won. NS&I will not automatically notify you of smaller prizes unless you’ve updated your details or registered for notifications. Some people don’t bother to check and miss out on relatively small wins, such as £25 or £50.
- Failure to Register Online: If you don’t register your Premium Bonds online, you won’t receive notifications via email or text. As a result, you may miss out on winnings that would otherwise have been paid directly into your bank account.
How to Check if You’ve Won a Premium Bond Prize?
One of the easiest ways to check if you’ve won a prize is through the NS&I Prize Checker. Here’s how you can check:
- Online Prize Checker: Visit the NS&I Prize Checker on the official website and enter your Holder’s Number (which can be found on your Bond record).
- Mobile App: Download the NS&I Prize Checker App from the Apple App Store or Google Play Store.
- Voice Assistant: For those with an Amazon Alexa-enabled device, enable the Premium Bonds Prize Checker Skill. You can simply ask, “Alexa, check my Premium Bonds prize.”
It’s important to remember that you need to have your Holder’s Number or NS&I Number (an 11-digit number) to check your prizes.
How Are Winners Notified?
NS&I notifies winners in different ways depending on whether they are registered online or not:
- Registered Online: If you’ve registered your bonds online, NS&I will notify you by email or text message.
- Unregistered Holders: If you haven’t registered, you will receive a prize warrant (a cheque) in the post.
- For Large Prizes: If you win one of the bigger prizes, such as the £1 million jackpot, you’ll be contacted in person by Agent Million, a representative from NS&I who delivers the good news.
To ensure you never miss a prize, it’s essential to keep your contact details up to date with NS&I.
Tips for Ensuring You Don’t Miss Future Prizes
To avoid missing out on your Premium Bond prizes, here are a few tips to keep in mind:
- Register Online: If you haven’t already, registering online allows you to receive notifications and manage your bonds more easily. You’ll be notified instantly when you win a prize.
- Update Your Contact Information: Always keep your phone number, email address, and home address up to date with NS&I. This ensures that you’re informed promptly when you win.
- Opt for Direct Bank Transfers: You can opt to have your winnings paid directly into your bank account. This method is faster, more reliable, and ensures you don’t have to worry about lost cheques.
- Check Your Bonds Regularly: Even if you don’t register online, it’s still a good idea to check your bonds regularly using the NS&I Prize Checker.
Premium Bonds vs Other Savings Products
Premium Bonds are unique in that they offer a chance to win tax-free prizes instead of earning interest. But how do they stack up against other types of savings products?
- ISAs (Individual Savings Accounts): ISAs offer tax-free interest, but unlike Premium Bonds, they guarantee returns. ISAs are often better for those looking for reliable, long-term growth.
- Savings Accounts: Traditional savings accounts often offer higher interest rates than Premium Bonds. However, the interest you earn is taxable, while Premium Bonds winnings are tax-free.
- Stocks and Shares: While stocks and shares investments offer the potential for higher returns, they also come with a greater level of risk. Premium Bonds are a safer option, but the potential returns may be lower.
In conclusion, Premium Bonds are a great way to save if you want a mix of safety and the excitement of possibly winning a prize. They’re especially appealing for those who want a low-risk, government-backed savings option.
Real-Life Winner Stories
The idea of winning a large amount of money can be quite thrilling. Here are a couple of real-life stories of Premium Bond winners who struck it lucky:
- Amanda Thompson: A regular saver, Amanda won £1 million after holding onto her Premium Bonds for over a decade. She was completely unaware of her win until she received the call from Agent Million. Stories like hers highlight how anyone can win with Premium Bonds, no matter how long they’ve been saving.
- John Smith: Another example is John, who won £100,000 after purchasing Premium Bonds for just two years. He was thrilled when he found out, and it changed his life by giving him the financial security he had long hoped for.
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