Premium Bonds prizes under fire as people from same region win £1m jackpot – NS&I responds | Personal Finance | Finance

. Avatar


A customer queried how the prize draw works after people from the same region took home a £1million jackpot prize in two different prize draws this year.

The frustrated saver said in a message to NS&I over X: “Again another million pound winner from Hampsire, I’m cashing mine in this month if I don’t have a decent winner. #JustSaying Better guaranteed savings to be had.”

In , one of the £1million jackpot prizes was won by a person from Hampshire And Isle Of Wight, who previously had £45,000 in Bonds. A person from Hampshire won a £1million two months ago, in .

NS&I issued a response to explain how the prize draw works. They said: “Please note it is an essential feature of the Premium Bond scheme that winning is solely a matter of luck, and there can be no guarantee of any level of return whatever the value of the holding.

“The thing to remember is all Bond numbers are equal. Each Bond number is worth £1 and has the same chance as any other to win a prize in each draw.

“It makes no difference when or where your Premium Bonds were bought. May I take this opportunity to wish you luck in future prize draws.”

Another X user cynical about the scheme said: “I’m convinced the high value prizes don’t exist. Try and find a story online about someone who has shared their win.

“It’s only ever speculative stories that are reported. No names, towns, villages. Like lottery winners do. NS&I jackpot ruined my life.”

NS&I also issued a response to this concern. The group said: “We set rules to protect everyone’s identity when announcing prize winners – find out how this works here.

“We do have a few stories of previous jackpot winners on our website as they have given us permission to share their experiences.”

The provider linked to this webpage with information explaining how the details published about prize winner locations are set out.

A saver can hold up to £50,000 in Premium Bonds and you can increase your chances of winning a prize by buying more Bonds.

In a separate incident, another frustrated customer to update their service to make it more accessible.

They asked over X: “Any chance you’ll be doing an app so I can manage my Premium Bonds etc on that like most financial companies?

“Or at least recognise Samsung software. You’re just making it hardwork. Time to improve and understand how people use technology now.”

A reprentative said in response: “We do offer an NS&I Prize Checker app on Android and Apple devices, which you can use to check your Premium Bonds prize winnings.

“The NS&I app, for viewing your balance is currently available on Apple devices and we are currently in the progress of bringing the app across all platforms.

“We appreciate your feedback on our services and have passed this onto the relevant team for you.”

For the latest personal finance news, follow us on Twitter at @ExpressMoney_.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *