Although it made a U-turn on a previous decision to stop sending physical cheques through the post earlier this year, it’s now urging customers to switch to digital as it’s much safer.
NS&I already pays nine out of ten prizes straight to customers’ bank accounts, or by reinvesting into more Bonds, and is now encouraging the remainder of its customers to make the switch.
“Because of this, we had planned to phase out prize cheques completely, but we’re not going to do that now,” a spokesperson said.
“However, if you do still receive Premium Bonds prizes as a cheque in the post, why not switch to a better way?
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