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NS&I Premium Bonds Reviews

Ratings based on 34 reviews Last review 6 months ago

NS&I bond reviews are honest reviews written by people like you. While many people look at the interest rates on offer, what about the NS&I's customer service? Smart Money People is fast becoming the UK's leading source of independent NS&I bond...

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NS&I bond reviews are honest reviews written by people like you. While many people look at the interest rates on offer, what about the NS&I's customer service? Smart Money People is fast becoming the UK's leading source of independent NS&I bond reviews. We need your help! By writing your honest reviews, you can help increase trust and transparency in the financial world.

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Your Premium Bonds Reviews (34)

14th May 2018

My advice is.

Unless you as holder has got above the odds 24500 premium bonds is not worth buying. As is disappointing when not winning a prize each month. So my advice is putting 40000 or above in. As 1 month you win nothing because the account has to mature. Is...

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Unless you as holder has got above the odds 24500 premium bonds is not worth buying. As is disappointing when not winning a prize each month. So my advice is putting 40000 or above in. As 1 month you win nothing because the account has to mature. Is a matter off beating the odds to win the prize.

9th April 2018

Old-fashioned savings...

I have held Premium Bonds for about 3 years now. Naturally, the winning is a bit hit and miss. Not an account for those who need their money to earn interest. However, I like the fun of getting a "prize". The odds of winning were reduced last...

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I have held Premium Bonds for about 3 years now. Naturally, the winning is a bit hit and miss. Not an account for those who need their money to earn interest. However, I like the fun of getting a "prize". The odds of winning were reduced last year, but have now improved again.

I have recently gone online (I used to receive cheques in the post). The procedure was straightforward and not too time consuming, whilst still providing a secure system.

A fun way to save, but not for everybody.

Thank you

3rd February 2018

for the wealthy

i was happy with premium bonds when £25.000 was highest amount you could hold.( Although i only have small amount of premium ...

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i was happy with premium bonds when £25.000 was highest amount you could hold.( Although i only have small amount of premium bonds.)
but now that it stands at £50,000 i and many more low priced bond holders have very little chance of winning. it is mainly people with very high holdings who seem to gain. its the rich getting richer I'm afraid.

24th January 2018

Avoid

I have been attempting to withdraw (and now am looking to close completely) my premium bond account with NS&I....

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I have been attempting to withdraw (and now am looking to close completely) my premium bond account with NS&I.

It was set up many years ago, but I was able to make a deposit in February 2017 over the phone without any requirement to prove my identity.

Fast forward to October 2017. I filled in the necessary withdrawal form to take back some of this money and posted it back to them, but after several weeks without receipt of funds, I called NS&I for an update.

I was told that they had received the form, but that they had no proof of signature on file for me and so therefore I would need to complete a different form for this, before they could action the request. No attempt was made to notify me of this, so if I had not made the follow up call myself, I clearly would never have seen any movement on this front.

They could not explain why it was a different process to deposit money as it was to withdraw money, even when using the exact same bank account details, as I had managed to do with ease before.

Nonetheless, after a couple of weeks, this form arrived in the post, which required my signature and that of a witness who was not family and working in a profession (company director, or solicitor etc). After posting this completed form back to them and putting in a call to them a couple of weeks later, they said they had not received the form, so would post another one out to me.

A different and incorrect form arrived in the post yesterday from NS&I, so I am now going to have to call them up - yet again - to request they send the correct form to me this time and if they successfully manage to do so next time, I will have to bother someone again to fill out this document for a second time to witness signature etc and hope for the best.

This experience is unforgiveable and the need to rely on their acknowledging receipt of paperwork, only via standard post (recorded delivery is not guaranteed to work either apparently) means that not only is NS&I completely unfit for purpose, but it is also not a method for storing funds that can reliably be reclaimed in their own, already slow, stated time period.

For a Treasury backed institution, it is a disgrace and for someone in need of reclaiming their money within a reasonable timeframe, it is an experience that might cause great anxiety and financial difficulty.

Avoid NS&I at all costs and if you currently have a premium bond account with them, I would advise you to take heed of this all to common negative customer experience.

13th November 2017

Efficient always

In all my dealings with them over many years, there have only been a couple of small problems which were rectified immediately. A really efficient organisation and with todays very low interest rate, premium bonds are worth a go.

2nd August 2017

Love them!!

I have only had premium bonds for two months and won £100 first month and £550 second month! Must have a lucky touch. I think these are a good investment when you have a large amount to invest but if it's just a few Hundred or a few Thousands might n...

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I have only had premium bonds for two months and won £100 first month and £550 second month! Must have a lucky touch. I think these are a good investment when you have a large amount to invest but if it's just a few Hundred or a few Thousands might not win to much. I love the thrill of opening them to see if you have won.

4th July 2017

Reliable and exciting - what more can you ask for?

Whenever I've contacted NS&I to update details, their customer service has been swift and efficient, and prizes are sent out quickly and automatically. Not only are your savings safe in their hands, but you have a chance of winning a financial prize -...

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Whenever I've contacted NS&I to update details, their customer service has been swift and efficient, and prizes are sent out quickly and automatically. Not only are your savings safe in their hands, but you have a chance of winning a financial prize - what more can you ask for?

28th March 2017

Worth a punt -MaxYourMoney

I have a few thousand pound in savings due to the awful rate, I moved them into premium bonds. In the last 5 years I have made 2.5% consistently every year. I know there is a chance I'll earn nothing but for the cost of a coffee it's a price I'm...

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I have a few thousand pound in savings due to the awful rate, I moved them into premium bonds. In the last 5 years I have made 2.5% consistently every year. I know there is a chance I'll earn nothing but for the cost of a coffee it's a price I'm willing to pay! Plus with a chance to win even bigger ,this time next year Rodney we will be millionaires.

1st March 2017

Paying off well so far

We are frantically saving towards paying off a help to buy scheme and decided to use premium bonds to help us gain more money. So far it's working very well. We haven't won millions but at least £25 each month often more. #MaxYourMoney

14th October 2016

Premium Bonds - never had a sniff of even a £25 win

I've had several thousand pounds in Premium Bonds for a few years now. I've never even had one £25 win. I would have been better off putting my money in a bank account - even with today's low interest rates at least I would have got some return. I ...

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I've had several thousand pounds in Premium Bonds for a few years now. I've never even had one £25 win. I would have been better off putting my money in a bank account - even with today's low interest rates at least I would have got some return. I believe that recently the odds of winning became even worse, so I wouldn't recommend these at all. Unless you're not bothered about getting some sort of return on your money.

17th September 2016

Only invest if you enjoy paperwork and mental torture

This is simply the worst set up investment service you will ever encounter - the call centre advisors readily offer that it's because they're a 'government service' - meaning a lot of money being thrown at process and bureaucracy in the name of your...

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This is simply the worst set up investment service you will ever encounter - the call centre advisors readily offer that it's because they're a 'government service' - meaning a lot of money being thrown at process and bureaucracy in the name of your 'security'.
So secure that within a month of filling out the same paperwork I'd filled out 2 years before (which takes a week to arrive by snail mail) and having to post a form back to reactivate my account - just to invest - they had de-activated it again because my password had expired.
My password expired within a month so I have to do the whole process again. You can't make it up.

I only invest/ check on the account every 1-2 years and I am told that I am 'barely using' my account and that's why I'll keep having to go through a 2 week process each time to do anything.
It's bonds, not everyday banking.

The time you'll invest in admin on your bonds will, in all likeliness, not be worth any money you'll win and should be a serious consideration.
Essentially, they cannot cope with the modern world. They are an anacranism that desperately needs someone to come in and overhaul the whole thing to re-work the service to suit the needs of the customers.
Currently this is a typical, geriatric, government service where you're not a customer, you're the public and they are doing you a favour.

Unless you have time to burn and don't mind excruciating repetition, put your money anywhere else.

15th September 2016

Left hand doesnt know what the right hand is doing!!

The worst customer service. A standing order went out of my account and came back from NS&I as there was a computer glitch. They sent me a letter to apologise and if I wanted to invest the money still I would not lose a month. The past two months I...

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The worst customer service. A standing order went out of my account and came back from NS&I as there was a computer glitch. They sent me a letter to apologise and if I wanted to invest the money still I would not lose a month. The past two months I have invested the money to enter the following draw but they cannot do it. Even after speaking to a manager who assured me it would happen, it has not! No one takes ownership of the problem I keep on getting fobbed off. Whenever you ring nobody takes ownership even on the E-mails. They might as well not be in the office.

28th March 2016

Money is safe

I have had £500 in premium bonds for over 10 years and have never had a win. Should really put the money to better use elsewhere, but keep thinking that a win is just round the corner, so leave it there. At least the money is safe

28th March 2016

Money is safe

you know that your money is safe and there is always the chance of a big win. However even though I have £1000 invested I have only had one win of £25. There will always be winners and losers but I know my money is safe

28th March 2016

DONT BANK ON THE BIG ONE

You dont go in the draw immediately - you have to hold for a full calendar month which is disappointing. So far I have has a few small wins of £25 each and I live in hope of something bigger. Have the security though that my money is safe