NS&I has clarified the process for withdrawing funds after a customer enquired about their cash. The saver reached out to the Premium Bonds provider after their funds had not appeared in their account by July 19.
They expressed their concern, saying: “I haven’t received my withdrawal into my bank account – it said it would be today when I requested the money.” An NS&I representative responded with the reassurance: “If you were informed a payment would arrive today, it can take up until the end of the banking day to arrive – in this case, it will be 5pm today.”
The customer then explained the urgency of the situation: “See it’s usually in by 11.30am and it’s my holiday money and it’s still not in: is this because of the IT issues that’s happened?” The savings institution confirmed that the funds should be received promptly.
The group said: “The funds should still arrive before the end of the banking day in the UK. If they’re not with you by 5pm BST today, please get back in touch.”
A key advantage is they can be cashed in any time and managed easily online or by phone once set up, with each £1 Bond having an equal shot at winning in the monthly prize draw, including the two £1million jackpots. An individual can hold up to £50,000 in Bonds.
Savers often reinvest their winnings to buy more, thereby increasing their chances of winning again. A minimum purchase of £25 worth of Bonds is required when buying more.