Over £105 million in Premium Bond prizes remains unclaimed

Millions of Premium Bond prizes remain unclaimed, urging savers to check their accounts.

Unclaimed Premium Bond prizes total over £105 million

Over £105 million in Premium Bond winnings is unclaimed, according to National Savings and Investments (NS&I). There are 2.6 million winners, including 11 individuals set to receive £100,000 each. Although many unclaimed prizes are smaller—more than 1.8 million worth £25—significant sums exist, such as 19 individuals with £50,000 and 38 with £25,000. To locate potential winnings, users are encouraged to ensure their contact details are current. NS&I offers a tracing service for those unsure about their Bond status. Many unclaimed prizes stem from changes of address, which often leads individuals to overlook their winnings.

The large amount of unclaimed Premium Bond prizes highlights a recurring issue in financial management. With the NS&I noting that 2.6 million prizes are left unattended, it raises questions about how well people track their financial assets. Sarah Coles from Hargreaves Lansdown pointed out the connection between administrative oversight and lost wealth, which extends beyond bonds into savings and pensions. As digital banking becomes more prevalent, tools like NS&I's tracing service may play a vital role in reconnecting people with their earnings. However, the complexity and time-consuming nature of these systems may deter individuals from exploring these options.

Highlights

Regular checks can ensure individuals do not miss out on potential earnings.