People urged to check details as £100m of premium bond prizes going unclaimed
NSandI has urged Premium Bonds holders to make sure their details are up to date
Premium Bonds holders are being urged to verify their particulars as nearly a dozen £100,000 jackpots remain uncollected
(Image: PA)
Premium Bonds holders are being urged to verify their particulars as nearly a dozen £100,000 jackpots remain uncollected. National Savings and Investments (NSandI) has revealed that more than 2.5 million Premium Bond prizes worth over £103 million are still waiting to be claimed.
Sarah Coles, head of personal finance at Hargreaves Lansdown financial services firm, is urging savers to maintain current contact details and verify their numbers. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here .
She said: "Eleven people in the UK have £100,000 with their name on it, just sitting, collecting dust, in the vaults at NSandI. 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."
She continued: "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."
She also advised that people should think about merging their accounts for easier management, as noted by the Express.
The specialist recommended: "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. Around nine in ten prizes are paid this way."
Moreover, there are 11 unclaimed prizes valued at £100,000, along with 19 unclaimed £50,000 prizes, 38 worth £25,000, and another 75 of £10,000 still up for grabs, according to MyLondon.
How to find out if you're a winner
NS&I sets no deadline for claiming prizes or cashing in bonds, offering various methods for winners to discover their good fortune.
You can check if you've won by visiting the NS&I website directly.
If you're unsure about your bond information, NS&I provides a tracing service – simply fill out a form on their site to get started. For additional help, the 'My Lost Account' service is also at hand.
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NS&I has made headlines recently for reuniting over £166 million with rightful owners across more than 52,000 accounts, thanks to its tracing efforts and the My Lost Account service.
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