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NS&I: Premium Bond reviews

Name: Premium Bond
Rating: 2.94 (144 reviews)

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2.80

Based on 144 reviews, last reviewed 6th Mar 2025

50% decrease in 5 star reviews

in the past 90 days

50% increase in 1 star reviews

in the past 90 days

35%

13%

44%

Latest highest rating:

5

Safe but worth it as interest rates rise? Used to be a dead cert for somewhere to keep money safe when savings interest rates were next to %zero. Now savings rates are returning a sum of sorts... Read more Reviewed on: 27th February 2025

Latest lowest rating:

1

40k in premium bonds for 5 months and only won £175. 40k in premium bonds for 5 months and only won £175. 3 months won nothing. Much better off in shares or high interest savings account. Reviewed on: 6th March 2025

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About this product

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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NS&I Premium Bond reviews (144)

Not fit for purpose!

The online process is outdated and clunky. I am consistently asked security questions which I cannot answer because they don’t apply. Failure to answer always results in account being suspended. You are advised to call the helpline. Staff are rude, argumentative and unhelpful. Let’s not forget it’s MY money NS&I!!! Reviewed on: 18th August 2021

Out sourced customer services

Customer services not aware of the contents in standard letters sent to customers. Wanted to pass me to manager for clarification on details, on hold for 30 minutes. Advisor to me that another department would email me, I asked her to confirm my email address.....There wasn't on in the system.... so I would never have received an email :-) All I wanted to do was invest money. I'll look elsewhere now not backed by HM Treasury. Reviewed on: 21st June 2021

A lifetime of safe investment

Simply ,secure and good chances to win Reviewed on: 16th April 2021

When some winnings went missing, NS&I blanked me!

When some winnings went missing, NS&I blanked me! Ignored me completely, it was as though it was a cover up! DO NOT TRUST THIS investment IMO Reviewed on: 26th February 2021

Winless

Purchased a large sum of premium bonds two years ago. I won almost every month for the first year, sometimes more than one win. The second year only two or three wins & nothing for the last four months. It seems newly purchased bonds win more often. Withdraw & reinvest every year. Reviewed on: 8th February 2021

Incompetent Unpleasant Staff

When you call (and because the online system has little functionality, you will call them) the staff are useless. They are rude. They act like it's their money and not yours. The entire online system is 10 years out of date. Reviewed on: 6th February 2021

WORRYINGLY INCOMPETENT

I transferred money to purchase Premium Bonds in December and I was advised to log into the online account to provide further information. I was unable to log in and despite trying to contact NS&I on many occasions, it was not until early January that I received an email saying my application would be cancelled and my money would be refunded. Still waiting! Reviewed on: 8th January 2021

IT Systems don't work

I have a considerable amount of money with NS&I in an "instant access". Their security system don't work and so I have been denied access to my money for over a month. My complaints are unanswered and I ran out of credit after waiting on the phone for over an hour. Apparently the back office functions have been farmed out to a French firm based in India, which could explain why NS&I are unable to fix a long standing error in the Systems design. There appears to be no way to effectively complain and NS&I seem unregulated. I complained to the Treasury Minister responsible but that complaint has also been ignored. Do not trust NS&I. They are National Disgrace and should be closed down. Reviewed on: 28th December 2020

Frustrating beyond belief

Trying to register existing accounts online for children who have now turned 18. Cant be done online as not enough 'credit information' 1 hour to get through to the call centre. They cant do it either and have to send forms out through the post. 6 weeks later received a temporary password - guess what - it doesn't work Guess that's another 1 hour waiting to get through on the phone. Morale of this story - do not try and digitally transform your business when you have neither the technical foundations or support team to support this ambition! Reviewed on: 21st December 2020

Fraudsters! DO NOT GIVE THEM YOUR MONEY

Do NOT give them your money! I've been communicating for three months with CEO Ian Ackerley's Executive Office. I have still not been able to arrange a refund. When I made my original investment with them, time I took out the maximum amount permitted. Big mistake! They just wont give it back! Reviewed on: 16th December 2020

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