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Premium Bonds

Question for Treasury

UIN HL12437, tabled on 21 January 2021

To ask Her Majesty's Government what is the total value of outstanding unclaimed Premium Bond prizes; how many of those are £1 million prizes; and what efforts are made to trace the winners of such unclaimed prizes.

Answered on

4 February 2021

As of July 2019, there are currently 1,905,681 unclaimed Premium Bonds prizes worth £69,850,900. NS&I considers a prize as unclaimed when it has not been paid to or cashed in by the Bond holder within 18 months of the prize being issued.

There are no £1 million prizes unclaimed. NS&I undertakes regular media activity to raise awareness of unclaimed Premium Bonds prizes. NS&I also encourages customers to have Premium Bonds prizes paid directly to their bank accounts to reduce the risk of prizes going unclaimed.

Table: Total value and number of unclaimed Premium Bonds prizes

Unclaimed

Number of prizes unclaimed

Prize value

NS&I definition of unclaimed prizes (prizes issued up to and including July 2019)

1,905,681

£69,850,900

Industry standard definition of unclaimed prizes (prizes issued up to an including January 2006) *

397,951

£23,049,075

*The banking industry’s standard definition of an unclaimed asset is one that has lain dormant for a total of 15 years.

Answered by

Treasury