News & Blog

The way you receive your rewards for NS&I’s premium bonds is changing

13th November 2020

If you have any savings with NS&I’s premium bonds the way you receive any prizes could be changing.

From December 2020, NS&I are going paperless for the way they pay out their prizes. In a phased approach, by March 2021 NS&I will stop price payments by warrant (similar to a cheque). 

If your prizes go directly into your bank account don’t worry you don’t need to do anything. Your prize will automatically go into your account as usual. NS&I will continue to update you about winning a prize by emailing or texting you.

If your prizes are reinvested to automatically buy more premuim bonds, please check on your account to make sure your bank details are up to date and on their. Click this link to see how to do this.

This is the important section, if your prizes are delivered through the post, you will need to let NS&I know your bank details so that you can carry on receiving your prizes. Don’t worry if you don’t update NS&I on your bank details before December, they will hold onto your prizes until you provide them with your bank details.

Please talk to us to see if we can help you with equity release. Get in touch with us on 01609 760960. Or arrange a call back and one of our mortgage brokers will be happy to help.

https://www.nsandi.com/get-to-know-us/goodbye-to-paper-prizes


Reference – BL113 – Nov – 2020

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Regulatory Statement

Gale and Phillipson Investment Services Ltd, Gale and Phillipson Advisory Services Ltd, Gale and Phillipson General Financial Services Ltd and Gale and Phillipson (SE London) Ltd are all authorised and regulated by the Financial Conduct Authority (Reference Numbers 431387, 142752, 195080, 195522).  Gale and Phillipson (Herts) Ltd is an appointed representative of Gale and Phillipson Advisory Services Ltd.  Gale and Phillipson (Surrey) Ltd is an appointed representative of Gale and Phillipson Investment Services Ltd. (Reference Numbers 615821, 703337).All companies trade under the name Gale and Phillipson and are registered in England and Wales numbers 05409822, 02232959, 03751076, 04077157, 08864945 and 04823391.  Registered office for all companies is Gallowfields House, Fairfield Way, Richmond, DL10 4TB. Gyr Financial Consulting Limited is an appointed representative of Gale and Phillipson Advisory Services Ltd which is authorised and regulated by the Financial Conduct Authority. (Reference numbers 811525 and 142752 respectively) Gale & Phillipson Advisory Services Ltd trades as Gale and Phillipson. Registered in England and Wales number 11334836. Registered Office: Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells TN4 8BS.

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