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Premium Bonds & National Savings

By: Chris Nickson - Updated: 25 Jul 2017 | comments*Discuss
 
Unclaimed Funds Unclaimed Money

There's a lot of money still languishing unclaimed in the vaults of National Savings and Investments - not only savings, but also unclaimed premium bond prizes (remember premium bonds? They're still around and active).

There was a time when most people used various forms of national savings as the way to salt away money, before everyone had bank accounts. Even now they're a powerful force, just not as big as they once were.

Types of National Savings Accounts

The list of different types of savings accounts handled by National Savings gives an indication as to how widespread it once was. However, be aware that most of these no longer exist. That means, if you find a passbook or certificate in the possessions of an elderly or deceased relative, the funds no longer operate, but the money can still be claimed.

The complete list is: British Savings Bonds, Capital Bonds, Pensioner's Bonds, Children's Bonus Bonds, Investment Accounts, Deposit Bonds, ISA or Direct ISA, FIRST Option Bonds, Income Bonds, Fixed Rate, Save As You Earn, Savings Bonds, Premium Bonds, Ordinary Account, Yearly Plans and Savings Certificates. Also covered are the Post Office savings accounts and various savings certificates.

National Savings makes an account dormant once correspondence to a customer has been returned as undeliverable. This is for security reasons, although it doesn't affect the savings in the account, which continue to accrue interest until claimed.

Some people also possess National Savings stamps, another way of saving. These have no passbook of any kind. They can still be redeemed, as they don't expire, but there's no interest, they're simply paid at face value.

Tracing a Dormant Account

National Savings and Investments does having a tracing service, which is available through its website (www.nsandi.com). However, a trace takes around three months to complete, and the same service is available from My Lost Account (www.mylostaccount.co.uk), which is also free.

For NS&I to run a trace on an account, you'll need to fill out and return their form - it's as simple as that. You will need to know what type of account, and if you're running a trace for someone else, NS&I will need their permission in writing before releasing information (if you're searching on behalf of someone deceased, they'll need a death certificate).

If you're hunting for information on unclaimed government stocks, also known as gilts, these are no longer administered by NS&I. You'll need to contact Computershare Investor Services.

Premium Bonds

Unsurprisingly, NS&I receive more requests about old premium bonds than anything else. People find old ones and want to discover if they've won anything, although in the majority of cases they haven't.

In most instances NS&I lose track of premium bond holders when the person moves and doesn't inform them of the new address - that means they can't be notified of any winnings.

They don't need the same form as other savings in order to be claimed. With the bond itself, or the holder's number or card, you can simply check online to see if the bonds have won on the NS&I site with their premium bond prize checker. Alternatively, just inform them of your new address on the holder's card ands they'll check for winnings.

It's worth noting that if someone deceased has won a prize, the prize is only held for 12 months after the date of death. Now read how to check that you don't have any money left in dormant bank accounts.

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Share Your Story, Join the Discussion or Seek Advice..
[Add a Comment]
Hovis - Your Question:
Hello, my parents bought my son a Children's Bonus Bond in 1998. Both my parents are now deceased and my son is nearly 20yrs old. Does he now need to contact you himself to update the value of his bond and I no longer take care of it on his behalf? Thank you.

Our Response:
You can see link here for more information on what you should do.
UnclaimedFinances - 27-Jul-17 @ 12:25 PM
Hello, my parents bought my son a Children's Bonus Bond in 1998. Both my parents are now deceased and my son is nearly 20yrs old. Does he now need to contact you himself to update the value of his bond and I no longer take care of it on his behalf? Thank you.
Hovis - 25-Jul-17 @ 7:16 PM
Shaz - Your Question:
I have a bond of £5 which my dad bought for me when I was born 1970, how do I check if I ever won anything

Our Response:
You would have to check via the link here.
UnclaimedFinances - 15-Jun-17 @ 10:46 AM
Shaz - Your Question:
My dad bought £5 of bonds when I was born -1970, how can I check if I ever won anything My name on bond sharron

Our Response:
You can see more via the link here which should help you answer your question.
UnclaimedFinances - 12-Jun-17 @ 11:26 AM
My dad bought £5 of bonds when I was born -1970, how can I check if I ever won anything My name on bond sharron
Shaz - 11-Jun-17 @ 10:02 PM
I have a bond of £5 which my dad bought for me when I was born 1970, how do I check if I ever won anything
Shaz - 11-Jun-17 @ 9:59 PM
Bonds for my children not updated when they reached 18 - how do we proceed. Thank you
lizimc - 20-Apr-17 @ 1:00 PM
My mother in law died January 2014.She had a premium bond which I have recently come across in her papers.How can I find out how much it is worth and can it be cashed in? Her husband...my father in law died November 2013 and their only son..my partner...died May 2012.Myself and my 26 year old daughter are the only ones left which would make my daughter next of kin.How do I go about the process of finding out the worth of the bond?...Thank you
thornbank08 - 29-Mar-17 @ 7:28 PM
My mother passed away last year and I know she had hundreds of premium bonds but my dad can't find anything about them,can you tell me how to go about finding the information out for him
Joe - 4-Mar-17 @ 12:33 PM
Allen - Your Question:
I have ten premium savings bonds @ £1 each dated 1967.These were given to me by a friend , now deceased. Are these redeemable ? If so , then please advise ? It is only £10 but it would be a shame to throw them away if they can be redeemed.Regards A F Plumley

Our Response:
Please see link here which will point you in the right direction.
UnclaimedFinances - 16-Feb-17 @ 12:53 PM
I have ten premium savings bonds @ £1 each dated 1967 .These were given to me by a friend , now deceased . Are these redeemable ? If so , then please advise ? It is only £10 but it would be a shame to throw them away if they can be redeemed .Regards A F Plumley
Allen - 16-Feb-17 @ 7:56 AM
Ant - Your Question:
Lost my bonds and moved address wat shall I do

Our Response:
Please see link here which should help you further.
UnclaimedFinances - 24-Jan-17 @ 2:00 PM
Lost my bonds and moved address wat shall i do
Ant - 23-Jan-17 @ 9:40 PM
I have found a book with National Savings Stamps only worth £2,60, can I claim this back please. Thank You
patsywatsy - 4-Jan-17 @ 12:22 PM
Can you tell me how many premium bonds can a married couple jointly buy
Wendy - 12-Nov-16 @ 2:00 PM
I have just found an old premium bond gift token with a £5 gift stamp inside numbered 8061452. What can I do with it.? can I add £95 and buy a bond or can I get a refund. I think it dates from 1983. thanks,jmac
jmac - 30-Sep-16 @ 5:08 PM
Baz - Your Question:
HiMy mother passed away 1st October 2013Me and my brother are both on the will, but my brother as been sorting out all the paperwork but asn't informed me of the bonds , I have only just found out about this when I went down to the bank on Friday, my brother is not talking so I'm finding it difficult to get information on all her banking , so I was wondering if you could help me. Thank you Barrie

Our Response:
In probate cases lack of communication usually leads to suspicion and resentment, so it is important that you are kept informed of proceedings. If you think your brother may be concealing information, then I advise you seek legal advice. The executor can be called on to explain all actions they take as the representative of the estate.
UnclaimedFinances - 16-Aug-16 @ 12:49 PM
Hi My motherpassed away 1st October 2013 Me and my brother are both on the will, but my brother as been sorting out all the paperwork but asn't informed me of the bonds , I have only justfound out about this when I wentdown to thebank on Friday, my brother is not talking so I'm finding it difficult to get information on all her banking, so I was wondering if you could help me. Thank youBarrie
Baz - 15-Aug-16 @ 8:43 PM
I have found 2 premium bond in my recently deceased grandmothers possessions and am assuming they are invalid no. They were issued in 1970 and beat the serial numbers: 3BZ 945593 (£2) 4DS 919321 (£1) I assume they are worthless but not sure how to check. Thank you for any assistance.
IC - 13-Jul-16 @ 9:04 PM
Mims - Your Question:
I have Premium Savings Bonds and the holders cards date stamped from 69 -79I found them amongst my deceased Mothers belongings September 2015.Some are in her name and some in my Fathers name, he died in 2008.I 'm presuming these are now all invalid which is fine. But I also have some Bonds in my maiden name but the card holder address is correct.Should I just destroy the invalid Bonds, and just change the name on the ones in my maiden name?

Our Response:
I would would cehck whether the forms are invalid first before you destroy them, you can do that here. I hope this helps.
UnclaimedFinances - 14-Jun-16 @ 12:30 PM
I have Premium Savings Bonds and the holders cards date stamped from 69 -79 I found them amongst my deceased Mothers belongings September 2015. Some are in her name and some in my Fathers name, he died in 2008. I 'm presuming these are now all invalid which is fine. But I also have some Bonds in my maiden name but the card holder address is correct. Should I just destroy the invalid Bonds, and just change the name on the ones in my maiden name?
Mims - 13-Jun-16 @ 3:05 PM
Del - Your Question:
Hi ive found old.bonds and checked with no luck.but also found a £5 premium savings bond what is this

Our Response:
Premium bonds are essentially a savings account. However, they are a savings account with a difference as in you can put money into it and draw money out when you want. The difference to a normal savings account is that the interest you receive is decided by a monthly prize draw. You can see more via here. I hope this helps.
UnclaimedFinances - 19-May-16 @ 11:38 AM
Hi ive found old.bonds and checked with no luck..but also found a £5 premium savings bond what is this
Del - 18-May-16 @ 3:47 PM
Hi My husband has recently passed away, he has savings bonds. What do I need to do now as I am aware they are just in his name. Thanks
Joyce - 9-Jan-16 @ 3:30 PM
SuzieJ - Your Question:
My dad has given me a few old premium bonds bit doesn't know what his holders number was.mi am therefore hitting a brick wall in trying to see if he has won anything or not as all the links ask for this info first. Is there any way of checking them using the actual bond number?Thanks

Our Response:
You would have to get in touch directly via the link here. I hope this helps.
UnclaimedFinances - 21-Dec-15 @ 11:32 AM
My dad has given me a few old premium bonds bit doesn't know what his holders number was.mi am therefore hitting a brick wall in trying to see if he has won anything or not as all the links ask for this info first. Is there any way of checking them using the actual bond number? Thanks
SuzieJ - 18-Dec-15 @ 8:46 PM
@sally - No, you can only have a premium bond in one name. They are also liable to inheritance tax if a spouse dies, as they are not transferable. DG
Dom - 28-Oct-15 @ 1:49 PM
Can a married couple share joint premium bonds?
sally - 27-Oct-15 @ 12:57 PM
Psychjim - Your Question:
My wife has a Premium Savings Bond from 1971 with the serial number beginning 1DN followed by six digits. The NS&I website declares it 'invalid'. Where does she search now?

Our Response:
You can get in touch directly via the link here. I hope this helps.
UnclaimedFinances - 5-Oct-15 @ 10:15 AM
My wife has a Premium Savings Bond from 1971 with the serial number beginning 1DN followed by six digits. The NS&I website declares it 'invalid'. Where does she search now?
Psychjim - 4-Oct-15 @ 8:59 AM
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