NS&I warns Premium Bonds customers to take action before 8pm

NS&I warns Premium Bonds customers to take action before 8pm
-Credit: (Image: Reach Publishing Services Limited)


National Savings and Investments has created a Premium Bonds tool which shows when cashed in bonds will arrive in your bank account. The 'Payment timeline calculator' tool can be used to check when your funds will be arriving from a variety of accounts, including Premuim Bonds, Direct ISA, Direct Saver, Guaranteed Income Bonds and Guaranteed Growth Bonds.

NS&I said: "The time it takes to receive a withdrawal depends on which NS&I account you have, how much you want to take out and how you give us your withdrawal instruction. The quickest way to get your money is to tell us online or by phone. Use our calculator below to find out when you'd receive your payment."

The calculator is designed to tell you when you would receive a single withdrawal from one account. If you’re making more than one withdrawal on the same day, or want full details of the withdrawal timescales, then click the NS&I tool.

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You will have to specify if you gave the instruction by 8pm or after 8pm on that day. If you select today's date (September 23) before 8pm, the tool says your funds should arrive on Wednesday, September 25. If you indicate that you gave the instruction after 8pm today, your withdrawal will arrive on Thursday, September 26, according to the tool.

If you’d like to take money out of Premium Bonds, but make sure that certain Bonds are kept in the draw, you can do this online using a form. NS&I says: "You can easily withdraw money from yours or your child’s Premium Bonds without needing to create an online profile.

"All you need to do is fill out a quick online form. Make sure you have your account details to hand." You can cash in all or part of your Bonds at any time, it says.