NS&I has launched two new enhancements to Premium Bonds that will make managing them more accessible for both new and existing customers.
The change continues NS&I’s intention of attracting younger savers, by making products more accessible and appealing to a younger age group. Parents or guardians of children under the age of 16 who have had Premium Bonds bought for them will now have the opportunity to have any prizes won paid directly into their bank account. This is instead of receiving warrants (like a cheque). The designated responsible parent or guardian retains control of the child’s account until the child’s 16th birthday.
New and existing customers will have a choice of either text message or email notifications if they are lucky enough to win a Premium Bonds prize. Customers will be able to log-in to their Premium Bonds account via nsandi.com, check the NS&I prize checker or app, or speak to the Premium Bonds skill on their Alexa-enabled device to find out the exact value of their prize win.
Customers buying Premium Bonds for the first time via nsandi.com will be able to choose to have text message notifications when they set up their account. Customers that do not wish to receive a prize winner text message or do not have access to a mobile phone will be able to choose from alternative prize notification options online.
Responsible parents or guardians managing Premium Bonds on behalf of children can also choose to be notified via email or text message if a prize is won.
As well as encouraging younger people to invest in Premium Bonds, these changes also underline NS&I’s commitment to reducing the amount of paper warrants issued, as well as reducing its carbon footprint.
Jill Waters, NS&I Retail Director, said:
“With technology evolving at an ever rapid pace, it’s important that we continue to listen to customer feedback and innovate our products and the way we communicate with our customers. By making continual improvements to Premium Bonds, we aim to support a strong savings culture and create an appealing experience that maximises the technology used by our new younger savers.
“By allowing children’s prize wins to be paid directly into a parent or guardian’s account we are making life easier, ensuring that they have access to their winnings faster. By providing the option of a text message notification, we are providing customers with different ways to find out if they have won a prize.
“With more and more people engaging with NS&I through digital channels, it’s important that we make our products as accessible and easy to use as possible.”
Notes to Editors
- NS&I has spokespeople available for interview, including Agent Million, as well as a wealth of facts and figures (including regional) about Premium Bonds. If you require any further details, please contact the NS&I media team on the contact details below or tweet your question to @nsandi
- All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax.
- NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to 25 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
- The annual Premium Bonds prize fund rate is currently 1.40% and the odds of each individual Bond number winning any prize are currently 24,500 to 1.
- Pictures of ERNIE 5, the previous ERNIEs and Premium Bonds, including the Premium Bonds app are available in high-resolution jpeg format from the NS&I media team.
- Customers can buy Premium Bonds online at nsandi.com and over the phone by calling 08085 007 007. This is a free phone number and calls to it from the UK are free from both landlines and mobiles. Calls may be recorded. Customers can also buy by post. Existing customers can also buy by bank transfer and standing order. Each investment must be at least £25.
- Further information on NS&I, including press releases and product information, is available on the website at nsandi.com. Follow us on Twitter: @nsandi or join the conversation on Facebook: Premium Bonds made by ERNIE.