More time to choose your new prize options

We’re giving everyone more time to give us their bank details.

If this year has taught us anything, it’s that plans sometimes have to be put on hold. We’ve been busy making sure that everyone answering our phones and opening our post are safe, so social distancing measures have meant that there are fewer team members around than normal.

You can find our latest service updates here:

Latest service updates

Because of this, we’re giving everyone more time to give us their bank details. Don’t worry if we’ve already written to you to let you know this is happening from the December 2020 prize draw. You’ll still receive prizes through the post for the time being if you haven’t updated your details yet.

We’re still focussed on our commitment to reduce the amount of paper we send to our customers, so we’ll still be phasing out prize payments through the post, but we’ll start this in Spring 2021.

What to expect

Good news if you already receive your prizes directly into your bank account, you don’t need to do anything. If you win any prizes, we’ll let you know by email or text, and we’ll pay your prizes into your bank account by the 7th working day of the month. Result!

If you still get your prizes by post:

You can choose whether to have your prizes paid directly to your bank account, or reinvested into more Bonds. You’ll also need to give us up to date bank account details, as well as an email address or mobile number so we can let you know if you’ve won.

If you get your prizes reinvested:

If your prizes are used to automatically buy more Bonds (we call this reinvesting), we might not have your bank details, so you’ll need to make sure your account is up to date.

You can do this by logging in and going to ‘Your profile’ and selecting ‘Your prize options’.

Find out more about reinvesting your prizes

If you have won a Premium Bonds prize we'd love to hear from you