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The times are numbered for the surprising arrival of a Premium Bonds prize on the doormat, organisers have introduced.
Some prize winners nonetheless obtain paper warrants – like a cheque – within the submit when their fortunate numbers are drawn.
Nationwide Financial savings and Investments (NS&I), which runs the scheme, stated these could be completely phased out by March.
As an alternative, prizes will likely be paid instantly into financial institution accounts.
That possibility is already obtainable and 74% of individuals decide both for the prize cash to go straight into their account or to be reinvested in additional Premium Bonds.
The normal prize warrants might be cashed in at a financial institution or constructing society.
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Ian Ackerley, NS&I chief govt, stated there was “comprehensible affection” for prizes being acquired by submit, however direct fee was a a lot better system.
“In addition to being useful to our prospects, this transformation will permit NS&I to handle Premium Bonds prize distribution extra cost-effectively and with a a lot decrease environmental influence,” he stated.
Premium Bonds prospects might want to guarantee NS&I has their up-to-date UK checking account particulars, together with an electronic mail tackle or UK cell phone quantity, in order that they are often notified of any prize wins.
Those that fail to take action will nonetheless obtain prize letters, explaining declare.
NS&I burdened that it could by no means name prospects to ask for his or her financial institution particulars.
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NS&I
The primary profitable Premium Bond quantity in 1957
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NS&I
The brand new pc chip that powers Ernie 5 is the dimensions of a grain of rice
Greater than £88bn is invested in Premium Bonds by greater than 21 million folks.
The probabilities of profitable stay slim, with odds of 24,500 to one in every of every £1 Bond profitable any of the tax-free prizes, which vary from £25 to £1m.
Every month, Ernie – or Digital Random Quantity Indicator Gear – makes the regular Premium Bonds draw from Blackpool.
Its fifth incarnation – a pc chip the dimensions of a grain of rice – has been drawing the profitable numbers for the final 18 months.
Deciding on the numbers solely takes minutes, in comparison with the 9 hours taken by its speedy predecessor and the 10 days it took Ernie 1 to finish the draw.
