Premium Bonds customers have been warned their Bonds could cease to be eligible to receive prizes after a certain date.
NS&I set out the important rule in a response to a query from a customer over X about some holdings.
The individual asked: “What happens to Premium Bonds one year after the holder’s death if probate hasn’t been obtained?
“We have informed you of the death and the bonds are currently still gaining prizes but frozen. The holding is above the £5,000 figure.”
A Bond holder can hold up to £50,000 in Premium Bonds, and each time you buy more, you have to purchase at least £25 worth.
NS&I said in response: “When a Premium Bonds holder dies, they are only eligible to earn prizes on the account up to a year after the date of death.
“After this point, if the Grant of Probate has not yet been obtained, we will still hold the funds but no more prizes can be won on the holding.”
You can check if you have any unclaimed prizes to collect using the prize checker tool on the NS&I website.
Another Premium Bonds customer recently contacted NS&I, frustrated at a restriction on their savings.
They said: “It still infuriates me, the Premium Bond prize checker app only displays last six draws. Surely it’s possible to show the last 12 months on the app, as a minimum.”
Many savers will have been using the checker this week as the winners for the September draw were announced.
A representative of NS&I said in response: “Our prize checker is set up so that the last six months can be viewed.
“If you would like to view your prize history for the last 18 months, this can be viewed by logging into your online account here. We appreciate your comments and have passed this on as feedback for you.”
They included a link to a login page on the NS&I website where you can log in to your account.
