National Savings & Investment (NS&I) is urging people to check if they have won a Premium Bond prize, as millions of pounds worth of winnings remain unclaimed, including six prizes of £100,000 each. Premium Bonds are a savings product where instead of earning a guaranteed rate of interest, you are entered into a monthly prize draw. There is no time limit to claim a prize, and you can check if you have won by using the NS&I prize checker online or the Premium Bonds prize checker app.
NS&I has issued a warning about password security, prompting customers to be aware of the limited login attempts allowed. When logging in, customers are required to provide two digits of their password over the phone. If incorrect characters are entered or the system fails, customers will be asked for a different set of two digits. However, only five login attempts are permitted before the password is suspended. This measure aims to prevent unauthorized access and protect customer funds.
A Premium Bonds customer encountered an issue when trying to buy more Bonds, despite being well under the £50,000 holding limit. Upon contacting NS&I, the customer learned that the system had mistakenly reduced their maximum holding limit due to an attempted deposit that was not completed.
The NS&I representative explained that the headroom, which represents the amount available for investment, changes even if the payment does not go through. The customer was advised that their headroom would revert back to its normal level within a couple of days.
This incident highlights the importance of ensuring that the correct amount is entered when purchasing Premium Bonds, as even unsuccessful deposits can affect the holding limit. Additionally, customers are reminded that the minimum purchase amount for Premium Bonds is £25, and any amount below that will be automatically bounced back to the customer’s bank account.
