Premium Bonds are entered into a monthly prize draw, with prizes of up to £1million up for grabs every time. The results of the July 2021 draw will be announced very soon, meaning many will no doubt be hoping good news is on its way to them.
The plan to phase out Premium Bonds prize cheques was announced in September last year, with this decision put on hold several months later in December 2020.
Despite the U-turn, NS&I will continue to encourage all customers to have prizes paid directly into the bank accounts or reinvested to buy more Premium Bonds (up to £50,000 per person).
The vast majority of prizes are already paid in the latter two ways.
In the June 2021 Premium Bonds prize draw, nearly nine out of ten prizes (88 percent) were either paid directly into customers’ bank accounts or reinvested into more Premium Bonds.
NS&I Chief Executive, Ian Ackerley, said: “We have responded to feedback from some of our customers and we have decided to retain the option for them to receive Premium Bonds prizes through the post.
“We will continue to encourage customers to have their prizes paid directly into their bank account, as many have done so in the last 12 months.
“Having prizes paid directly into bank accounts is quicker, easier and more secure for our customers, while also being more sustainable and better value for the taxpayer.
“Customers who want to have their Premium Bonds prizes paid directly to their bank accounts or have their prizes reinvested, do not need to choose to manage their NS&I accounts online or over the phone, and our customer service teams will be on hand to help if they require further assistance.”
Those with an Amazon Alexa can also check via this device.
They should look out for the Premium Bonds prize checker Alexa skill and enable it to check for prizes.
It can also be used to find out when the next results are out, and if they have any unclaimed prizes.
For the July 2021 results, the prize checker will be updated by July 2, NS&I said.