UPDATE - I found a lost premium bond that’s 30 years old..

[objectivetruth]

Absolutely no idea how to link the original post but a few wanted an update.

Back story: I found a 32 year old £10 premium bond in my name.

Had the exciting prospect of calling them up, them sending me a form, me sending the form back to them, wondering who the F is ERNIE?
It’s been a wild month in lockdown.

I’ve been waiting for the post each day in anticipation. And today was the thrilling day when a white envelope came with a Sunderland return address on the back.

I tore it open to find my premium bond had won over 32 years... sweet FA. And that was it. Straight back to homeschooling. Joy.

(Side note, I also mentioned my mother in law has £2 PB that she’d never checked in over 60 years. She checked...also no prizes)

 

[nmd]

@objectivetruth I’ve just put my emergency fund into Premium Bonds, I figured it may as well sit in there and give me something to dream about than be languishing in a very low interest rate Halifax Instant access ISA that it was before. I used to have just a grand and then last month won 2 x 25 quid and I thought to myself I may as well put more in.

 

[objectivetruth]

@nmd Yeah I’ve transferred the emergency fund in there also as it was just sitting in an online account doing nothing, first draw is March.

 

[antonio99]

@nmd I’ve done the same this year!

 

[loum]

@objectivetruth I had £1000 invested with them for years and won absolutely nothing. In fact, I didn’t start winning prizes until I maxed it out. Since then I’m averaging about 1% a year.

 

[greg1886]

@objectivetruth Im glad you found out, that's one less 'if only/what if' scenario to think about! Your chances of winning even with a few hundred pounds in premium bonds is pretty low. It's more about the amount you put in rather than the time spent holding them. If you buy £4000 of premium bonds now, you'll have better odds of winning in 1 month than you did with £10 for 32 years!

 

[objectivetruth]

@greg1886 Oddly enough I’ve transferred £4200 over to them (emergency fund, quick access etc) and March will be my first draw so that’ll give me something to do for the month of March.

 

[oldasdirt]

@objectivetruth ERNIE drove the fastest milk cart in the west

 

[n4rfzoink]

@objectivetruth I have £1,000. Just hate those emails once every few years saying you've won, log in to check how much! £25 prize five times now, each time I drive home dreaming of being rich

 

[tigist]

@n4rfzoink Part of the fun, no?

 

[ram_1998]

@objectivetruth I’ve been waiting for this update for about 20 days?
So excited to hear your fortunes, only to spit my coffee out at the sweet FA comment!
Not laughing at your misfortune just your wording.

Sorry you didn’t win anything, and also your MiA after 60 year!

I’ll be taking mine out after the next draw, seems the reduced prizes don’t feel worth it anymore.

Thanks for taking the time to post an update though.... now to clean up the coffee

 

[chillguy]

@objectivetruth £10 at avg of 2% over 30 years you would expect to be £18 now. Given the minimum prize is £25, you'd have done very well to win anything.

 

[nicolai]

@objectivetruth I went through a similar process to you too lol

Found £10 from 1957 and 2 x £100 from 2007, all with zero.

I wouldn't be surprised if winnings or records of wins got lost in data transfers etc, but I guess we'll never know

 

[butterflies]

@objectivetruth There is a good calculator/explainer on moneysavingexpert.

Mostly expect nothing, if you max out at £50k holding expect 2 or 3 x £25 each month.

 

[resjudicata]

@objectivetruth Wife has 5k and I have 4K in one. Started them for the January draw, she won £25 in Jan and Feb. So she’s already got that 1%... Based on the anecdotal evidence here this likely won’t be the norm.

 

[deekenz]

@objectivetruth Thanks for the update, been waiting since you originally posted here:

https://www.reddit.com/r/UKPersonalFinance/comments/kyi0js

 

[jstfrths]

@objectivetruth I was recently forwarded a cheque for £25 from my parents that I'd won on the £100 premium bonds my aunt bought me for my christening back in the early 90s. I figured I'd turn my account into an online one and I had to print off a form and post it like it was the bloody 90s

 

[dtom]

@objectivetruth Haha had a similar story with an old 100 pound one.

 

[gym_class_hero]

@objectivetruth I bought £250 years ago, won £25 within a few months and nothing since. Pretty good return tbh!

 

[resjudicata]

@objectivetruth If I was to transfer money into Premium Bonds say today when would be the first draw entered be?