NS&I issues important warning to Premium Bonds holders over specific date

Premium Bonds holders have been issued a stark warning that they could miss out on potential winnings if a particular deadline is missed.

The warning comes in response to an NS&I customer's question about the implications for Premium Bonds following the death of the holder. Posing the question, the concerned individual queried: "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."

Currently, a Bond holder can have up to £50,000 invested in Premium Bonds, and any new addition must be at least £25, reports the Express. Replying, NS&I made it clear: "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." They further clarified that: "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."

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Customers who want to see if they've got unclaimed prizes can do so using the prize checker tool on the NS&I website. In a related issue, another saver recently reached out to NS&I voicing their dissatisfaction with the constraints of the savings service.

Expressing their frustration, 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." With the results of the September draw just released, many savers are turning their attention to the prize checker this week to see if they're among the lucky winners.

An NS&I spokesperson explained: "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 also provided a link to the NS&I website's login page, where customers can access their accounts.