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NS&I Premium Bonds Reviews

Ratings based on 45 reviews Last review 2 weeks 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 (45)

12th May 2020

They don't make it easy!

NS&I clearly have a deliberate policy of making it as hard as possible for investors to access their investments, as no organisation could possibly be universally staffed by complete morons! Another outstanding example of the improvement in service...

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NS&I clearly have a deliberate policy of making it as hard as possible for investors to access their investments, as no organisation could possibly be universally staffed by complete morons! Another outstanding example of the improvement in service resulting from privatisation and outsourcing. This should be a national scandal! AVOID AT ALL COSTS! You have been warned.

11th May 2020

old n outdated

Antiquated procedures & unhelpful staff Antiquated postal procedures and unhelpful staff make accessing your money and accounts virtually impossible. Also the products at NS&I are getting worse as they reduce interest rates and cut down on prizes.

5th February 2020

Better than a savings account

Easy to use online and earn ore than I would get from interest on a savings account. I don't have the maximum amount in my account, but usually win something every month.

4th December 2019

Worst service I've ever received from a bank

Terrible service, keep locking my account for no clear reason. Repeatedly give useless advice, and everything requires posting them a letter and waiting 2 weeks to get anything sorted. Absolutely awful

12th September 2019

A Great Investment!!

Should you buy premium bonds? The answer is YES! Online buying is simple and secure. The advice I am giving should maximise your chances of winning a prize (£25 minimum) Consider buying in a lump sum, say between £1000 and £10000. For example having a...

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Should you buy premium bonds? The answer is YES! Online buying is simple and secure. The advice I am giving should maximise your chances of winning a prize (£25 minimum) Consider buying in a lump sum, say between £1000 and £10000. For example having a £3000 investment could mean 2 £25 wins a year if you are lucky. That equates to 1.66% interest and of course you can reinvest your prises and NS&I will add 2 £25 bond numbers to your account...easy. With average luck on a £10000 investment you should have 4 £25 wins each year. And of course you have a slight chance of winning a higher jackpot amount but if not and with interest at nearly zero then it is a good secure place to leave your money which you can cash in and receive within 10 days if you want too. It does not give you an income but you can expect to win about £500 to £700 each year if you hold the maximum number of bonds allowed. Best of luck!!!

26th January 2019

Good Luck trying to get your money back out AVOID!!!!

It is now Jan 2019 and a request to cash out was sent to NS&I in Oct 2018. We are still no nearer receiving the funds than when we started. They simply do not want to relinquish the funds held and will find ANY excuse not to pay up. They WILL NOT...

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It is now Jan 2019 and a request to cash out was sent to NS&I in Oct 2018. We are still no nearer receiving the funds than when we started. They simply do not want to relinquish the funds held and will find ANY excuse not to pay up. They WILL NOT accept correspondence electronically and insist on each correspondence being by snail mail. Some of these letters have taken 39 days to be received.
Wrong and conflicting processes and forms advised.
Claims that they do not have our signatures on record
Request for confirmation of address (sent to the same address)
Request for Date of birth
The list is endless. I am just about to write back to them with my shoe size just in case they need that too.
My advice is NEVER give your money to these people. If you have already given them money then start NOW to get it back. They will use every avenue available to NOT REPAY you.
For a government sponsored saving scheme this is absolutely disgraceful and should be subject of a Royal Commission.

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.