Premium Bonds

Treasury written question – answered on 7th September 2020.

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Photo of Christian Wakeford Christian Wakeford Conservative, Bury South

To ask the Chancellor of the Exchequer, what recent estimate he has made of the average time taken for National Savings and Investments to transfer prize money to premium bond winners in each of the last five years.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

NS&I issues Premium Bond prizes to a regular timetable. The time taken depends on the customer’s chosen method of payment and this has not changed during the Covid-19 pandemic. Over the last 5 years customers have increasingly chosen to receive their prize payments as BACS payments rather than as warrants (by post), resulting in Bond holders receiving their prize payments more quickly.

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