Reply With QuoteJust look on their website. NS&I say 2 working days from receipt of withdrawal instruction to money paid into your bank account. See calculator near bottom:
https://www.nsandi.com/help/manage-y...l-from-savings
How long does it take from selling a Premium Bond, to getting the money back into your account? Asking to know if they're a viable alternative to keeping short term cash in your current account,
Just look on their website. NS&I say 2 working days from receipt of withdrawal instruction to money paid into your bank account. See calculator near bottom:
https://www.nsandi.com/help/manage-y...l-from-savings
In my experience, as long as you're set up online the whole withdrawal process is straightforward. You can do it through the website and the money lands within a couple of days.
I find them an entertaining way to keep readily accessible savings and the equivalent rate isn't bad given how naff the whole savings market is right now.
I've got NS&I premium bonds and as has been said it takes a couple of working days for the money to arrive in your bank. The website makes it very easy to buy and transfer. I've made more on mine in the last 12 months than I would have putting it in a savings account.
I took out multiple amounts of £10,000 earlier this year when buying a property and it took a couple of days to ge the money - all done online. Using cheque can take ages, I have heard.
2 days. Very Slick. Year to date ive had £700 in winnings so better than most banks!
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RIAC
They normally ask you if you want to be entered into the next draw before you take out your bonds , if not it took 4 days for me very quick indeed
I’ve had 0.9% this year from mine. No big wins though. If you have savings then it’s a fair place for some of them.
Thanks all.
Well I have had bugger all from mine - in more than 20 years.
No great incentive to buy another one, is it!
Depends what you invest, I find the return is acceptable or better than any other interest ratesOriginally Posted by unclealec
RIAC
I had a premium bond bought for my birthday in 1958 and I'm still waiting for my winnings! :) :)
Well I still think it was the worst pound I ever spent.
If you enter for 50,000 monthly draws you will definitely get £25-50
RIAC
There's quite a good explanation on the Money Saving Expert website as to why investors such as BRGS and 100thmonkey seem to be getting a better deal than yourself.
This. Ours are better return than banks and always the chance of a big win.
Started out with nothing. Still have most of it left.
I'm a big fan too.
Always some sort of prize(s) every month.
Usually £25's or £50's, although my biggest win was £1000.
Cheers,
Neil.
Only issue is putting money in when I think there’s (up to) a month’s delay before the new bonds are entered into the draw. That’s only an issue if you are taking money out and reinvesting regularly.
The bonds require a calendar month before being submitted into the draw. This means if you buy them at the very end of the month, it will only be a month before they are in play. Buy on the 1st of the month and you end up with two months wait.
A good site to work out how lucky you are with Premium Bonds:
https://www.moneysavingexpert.com/sa...ds-calculator/
With an overall prize rate of 1%, the median return I believe is 0.9% so that gives an idea of what you could expect to get back. I seem to be there or thereabouts on average whilst my wife is significantly down on Premium Bond luck...something like 0.4%.
I’m thinking of investing £50k in them - is it as simple and buying online ?
I’m hoping I’ve had my fair share of s**t luck ��
Yea. Just sign up on the NS&I site. I think you can only have one bank account linked which you use to fund or withdraw from.
I won 4 prizes each £25 a few days ago.
Cheers, Shaun
What do you mean! You've had over 20 years of thrilling anticipation, presumably all for a pound. An excellent investment!
Makes sense though when you consider you are effectively gambling the interest on the savings, so if they've not accumulated a months interest they shouldn't count towards the draw as they're not contributing the same as everyone else's.
65 years of thrilling anticipation actually. And believe it or not I have had a couple of wins in the dim n distant, so I can't complain. Mind you, when has that ever stopped me?
what rate did they give you when we went to new money?
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