Millions of Pounds in Unclaimed NS&I Prizes Accumulate

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What is the total estimated value of unclaimed NS&I Premium Bond prizes as of July 2025?

What are NS&I Premium Bonds and Why are People Missing Out?

National Savings & Investments (NS&I) Premium Bonds are a popular way for UK residents to save money with the chance to win tax-free prizes. Unlike customary savings accounts offering fixed interest rates, Premium Bonds operate a monthly prize draw. Though, a notable amount of prize money goes unclaimed each year – currently totaling millions of pounds.This isn’t lost money, but it requires bondholders to actively claim it. Understanding how to claim is key to benefiting from your investment.

The Scale of Unclaimed Prizes: Current Figures

As of july 2025, NS&I estimates over £75 million in prizes remains unclaimed. This figure steadily increases as people move, change names, or simply forget they hold Premium Bonds. The oldest unclaimed prize dates back to 1999, worth a significant £100.

Here’s a breakdown of unclaimed prizes by region (latest available data, updated August 2025):

London: £16.2 million

North West: £8.9 million

South East: £7.5 million

scotland: £6.1 million

Wales: £3.8 million

These figures highlight a widespread issue, impacting savers across the UK. Premium Bond unclaimed prizes are a significant concern for NS&I, who actively campaign to reunite bondholders with their winnings.

Why Do Prizes go Unclaimed? Common Reasons

Several factors contribute to the growing pile of unclaimed prizes. These include:

Change of Address: The most common reason. NS&I relies on having your current address to send prize notifications.

Forgotten Bonds: People may purchase bonds years ago and simply forget about them.

Name Changes: Marriage, divorce, or deed poll can lead to prize notifications being misdirected.

Lost or Destroyed Bonds: While rare, bonds can be misplaced.

Deceased Bondholders: Prizes for deceased bondholders need to be claimed by their executors.

How to Check if You Have Unclaimed Prizes

Fortunately, checking for unclaimed prizes is straightforward. NS&I provides several tools:

1. NS&I Website: The official NS&I website (https://www.nsandi.com/) has a dedicated Premium Bonds prize checker.You’ll need your bond number to use this tool.
2. NS&I App: Download the NS&I app for iOS or Android for convenient prize checking on the go.
3. Phone: Call NS&I directly on 0808 500 7007. Be prepared to provide your bond details.
4. Bank Statements: Review old bank statements for prize payments you may not have recognised.

Claiming Your Unclaimed Prize: A Step-by-Step Guide

Once you’ve confirmed you have an unclaimed prize, claiming it is a simple process:

1. Gather Your Details: You’ll need your bond number and National Insurance number.
2. Choose Your Method: You can claim online via the NS&I website, by phone, or by post.
3. Complete the Claim Form: If claiming by post, download the claim form from the NS&I website and complete it accurately.
4. Submit Your Claim: Follow the instructions provided with the claim form.
5. Allow Time for Processing: It typically takes NS&I around 7-10 working days to process your claim.

Benefits of Regularly Checking for Unclaimed Prizes

Tax-Free Income: Premium Bond prizes are completely tax-free.

Boost Your Savings: claiming your prizes adds to your overall savings pot.

Peace of Mind: Knowing you’re not missing out on potential winnings.

Simple Process: Checking and claiming prizes is swift and easy.

Real-World example: The power of Checking

In June 2024, a woman from Manchester discovered she had £1,000 in unclaimed prizes dating back five years.She had moved house and forgotten to update her address with NS&I. A simple check on the NS&I website revealed her winnings, providing a welcome financial boost. This illustrates the importance of keeping your contact details up-to-date.

Keeping Your Details Up-to-Date with NS&I

Preventing prizes from going unclaimed in the first place is the best approach. Here’s how to ensure your details are current:

Online Account: Regularly update your address, name, and contact details through your online NS&I account.

Notify NS&I of Changes: Inform NS&I immediately whenever you change your address,name,or other relevant details.

* Keep Records Safe: Store your bond numbers