How to cash in premium bonds
Want to break cash in your bonds? Here’s a simple how-to guide.
Premium bonds are a great option for a different way of saving, winning prizes rather than gaining interest. Just like regular savings, you can take your money out of premium bonds at any time and here’s how you do it.
Cash them in online or by phone
The easiest way to cash in premium bonds is to call or use the online form. For both options you will have to have your NS&I number and your password. Then, simply call 08085 007 007 or go to the NS&I site and to log into your online account. You’ll then transfer the cash into your nominated account.
Filling out the premium bonds ‘cash in’ form
If you don’t have a login and password because you didn’t order your premium bonds online or by phone, then you will have to fill out the form on the NS&I website. For this option you’ll need to select the amount you would like to cash in, and the specific serial numbers of the bonds you would like to cash in. If you don’t mind which ones you cash in, you can tick ‘no’ on this question and they will cash in your oldest premium bonds first.
Choose how to receive the cash from your premium bonds
The form (section 6) gives you two options of how to cash in your premium bonds:
- To a nominated account. You will have the option of selecting a current account to have the bonds paid directly into.
- By warrant. This option means that you will get the amount of cash by cheque in the post.
NS&I usually take around 8 days to process a ‘cash in’ form, and so it will take 8 days plus the amount of time it takes to clear or get to you through the post. If you have filled out the form but have not received anything from NS&I in this time call them at 08085 007 007. You can also tweet them at @nsandihelp
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