Premium Bonds No Longer Via Post Office

Premium Bonds No Longer Via Post Office.

National Savings and Investments (NS&I) has confirmed that it is to cease its near 50 year relationship with the Post Office and no longer make investments such as Premium Bonds available for purchase over the counter.

With effect from 1^st August you will only be able to buy premium bonds over the telephone at 0500 007 007 or online at http://www.nsandi.com/ .

If you prefer paper, you can also download application forms from the website or request them by post and use the traditional ink/paper method.

NS&I suggest that vast majority of people already buy premium bonds direct anyway, so this is a “natural progression”.

Comment

There are many older people who reply on the local post office service not just for stamps and paying bills but also for some investments including the Premium Bond prize draw. This will be a blow to older people who cannot get ‘out and bout’ but is also a blow to small, sub-offices who need the trade.

The maximum that you can invest in premiums bonds is now £50,000 per person and the £1m prize draw has doubled to 2 per month. There are over £60m in tax-free prize pay-outs each month.