Premium Bonds delays block customer from buying Bonds – NS&I says ther | Personal Finance | Finance

A frustrated Premium Bonds customer reached out to NS&I for help as they were struggling to purchase Bonds despite several attempts.

The saved contacted NS&I over X to ask: “Several times I have attempted to purchase Premium Bonds for my three year old nephew.

“Each time the documents to his parents take so long to arrive, you keep refund the money back to me. Is there anyway such documentation requests can be sent via email?”

A person has to purchase at least £25 worth of Bonds when investing in the savings vehicle.

NS&I said in response to the customer: “There isn’t currently a process where we can receive the documents via email.

“However, if you were to send the funds to the parents, they can open the account for their child online and upload the documents online.”

A person can hold up to £50,000 in Premium Bonds, and savers often use their winnings to buy more Bonds, so increasing their chances of winning again.

Another customer recently contacted NS&I as they were having an issue purchasing Bonds.

They asked on Monday, August 12: “I purchased Premium Bonds on Sunday, with online bank transfer to the correct NS&I account number and sort code.

“Haven’t had a confirmation email, I’ve sent payment without my Bonds account number as reference. How do I correct this? Or will the payment be refunded?”

NS&I responded to say that they should soon receive their funds paid back into their account.

A representative of the group said: “When you make a bank transfer with the wrong, or no reference, the payment will automatically bounce back into your account the following banking day after we receive the funds.”

Each £1 Bond has an equal chance of being selected to win a prize, including one of the jackpot prizes for £1million.

Each draw also has several large cash prizes available for £100,000 and £50,000.

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