![]() ![]() ![]() NS&I has today announced that, starting from the December 2020 prize draw, it will start to move customers to having Premium Bonds prizes paid directly into their bank accounts – a quicker, easier and more secure way for customers to receive prizes. Payment of prizes by BACS will help prevent prizes won by new Premium Bonds customers from going unclaimed. There are currently more than 1.8 million unclaimed Premium Bonds prizes, worth over £67 million.Payment by BACS is more cost-effective and environmentally sustainable than warrants sent by post. Almost three quarters (74%) of Premium Bonds prizes are already paid directly to customers’ bank accounts or are automatically reinvested.Customers will receive prizes more quickly, more easily and more securely.Customers can also choose to have prizes reinvested into more Premium Bonds, giving them more chances of winning prizes in future draws.Premium Bonds holders that still receive paper warrants need to take action to ensure they continue to automatically receive payment of their prizes.Premium Bonds paper prize cheques will be phased out from December 2020.
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