Could you be sitting on a cash windfall? £103m in Premium Bond prizes unclaimed

Independent

22-07-2025

Thousands of people have had cash windfalls due to being reunited with Premium Bond winnings and other cash savings accounts, according to figures from NS&I.
But more people could be sitting on money that they are unaware of.
As of June 2025, more than 2.5 million Premium Bond prizes worth more than £103 million remain unclaimed. This includes 11 £100,000 prizes, 19 £50,000 prizes, 38 £25,000 prizes and 75 prizes of £10,000.
NS&I said that in the financial year 2024-25, more than £166 million was reunited through 52,693 NS&I accounts for holders who had lost touch with their savings and investments, thanks to NS&I's tracing service and My Lost Account.
This includes more than £120 million in Premium Bonds savings and unclaimed prizes, £11.4 million paid out from old savings certificates and £1.3 million from old children's bonus bonds.
In 2024-25 more than £6.2 million from 192,071 previously unclaimed Premium Bonds prizes was paid out to 51,310 Bond holders, either through tracing services, customers updating their details or checking for unclaimed prizes.
NS&I has successfully paid out over 99% of all Premium Bonds prizes to its winners since 1957.
It highlighted the importance of customers updating their details and opting to have Premium Bond prizes paid directly into their bank accounts.
Andrew Westhead, NS&I's retail director, said: 'These figures are a timely reminder to update your details, talk to your loved ones about your savings and make sure your money stays firmly in your hands, both now and in the future.'
Premium Bond prizes are considered by NS&I to be 'unclaimed' after 18 months, but there is no time limit to claiming them.
NS&I defines unclaimed assets as holdings in closed products and assets kept in open products where there have been no customer financial transactions for a period of 15 years or more.
Sarah Coles, head of personal finance, Hargreaves Lansdown, said: 'Eleven people in the UK have £100,000 with their name on it, just sitting, collecting dust, in the vaults at NS&I.
'They're among an eye-watering £103 million worth of unclaimed Premium Bond prizes, so it's worth checking whether you've already won big.
' People tend to get separated from their accounts when they move house and forget to update their address with all the companies they hold money with.
'It's not just Premium Bonds, vast sums of savings, investments and pensions go astray this way too. It's why in the first few weeks after you have moved in, it's essential to make a list of everything you hold, and methodically work your way through contacting every company to let them know your new address.
'It can also make sense to consider consolidating accounts so you don't have so many to keep track of in future.
'The easiest way to avoid losing track of Premium Bond prizes is to have your winnings automatically paid into your bank account – or automatically used to buy more bonds.'
NS&I, which is backed by the Treasury, has some tips for people to stay on top of their savings and prizes:
1. Keep contact details up-to-date. This can be done on NS&I's website.
2. To prevent Premium Bond prizes going unclaimed, customers can choose to have winnings paid directly into their bank account, or automatically reinvested into more Premium Bonds, with nine in 10 prizes now paid in these ways.
3. Balances can be checked on the NS&I app, and Premium Bond wins can be checked on the prize checker app.
4. Old NS&I bonds, certificates, passbooks or account paperwork can often be found tucked away in drawers or among old documents. Customers who find forgotten savings are encouraged to use NS&I's tracing service to locate any funds due to them.