Premium Bonds warning as you need to use this key word to access Bonds | Personal Finance | Finance

NS&I has pointed to a key phrase you may need to know to access your Premium Bonds.

A customer got in touch with the savings giant as they were filling in a form for their daughter to access her Premium Bonds.

They said: “My daughter (18) wants to access her Premium Bonds but we don’t have any of this information. Can you help?”

She included a screengrab of the ‘online and phone service registration form’, and she had highlighted the ‘Accounts or investment held with NS&I’ section.

This section is for a customer to provide details of the name of their accounts or investments with NS&I, and their customer, holder’s or account numbers.

The form states that this section must be completed as “otherwise we will not be able to register you for the online and phone service”.

A representative provided a response to tell the customer what she should put on the form in this case.

They said: “If you do not have any account details, please ask your daughter to write “trace” in this section.

“We will use her name and address details to locate the account she holds and continue with the registration.”

A person can manage their Premium Bonds online or over the phone, with options to check their balance or make transactions.

Each £1 Bond is entered into the monthly prize draw with an equal chance of being selected for a prize.

The monthly draw includes two jackpot prizes for £1million and several large cash prizes for £100,000 and £50,000.

Customers often choose to use their winnings to buy more Bonds, so increasing their chances of winning again.

An individual can hold up to £50,000 in Premium Bonds – you will need to buy at least £25 worth when buying more Bonds.

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