Unclaimed premium bonds wins hit £105m this month, a rise of £10m from the end of 2024, according to data from National Savings & Investments (NS&I).
Currently, there are more than 2.6 million prizes worth more than £105m waiting to be claimed, including two £100,000 prizes from February 2007 and May 2011 that were won by overseas winners. In total, 118,653 unclaimed prizes worth £4,612,075 are held by people living outside of the UK.
Caitlyn Eastell, spokesperson at Moneyfactscompare, said: “While Premium Bonds are a fun, unconventional way to win some tax-free cash, the reality is that it is a game of chance, and the majority of savers may not even win a prize.
“They sometimes also rely on investors to claim these prizes, meaning there is currently over £100m left unclaimed, more than £10m higher compared to the end of 2024.”
Premium Bonds winners are notified when they win a prize but sometimes people move or change their contact details without letting NS&I know, which can lead to unclaimed prizes, particularly if they have opted to receive their winnings by cheque.
In Central Bedfordshire alone, there are 9,732 unclaimed prizes worth £371,175, including two £10,000 prizes from May 2022 and January 2024.
To prevent Premium Bonds prizes from going unclaimed, customers can choose to have winnings paid directly into their UK bank or building society account, or automatically reinvested into more Premium Bonds, with nine in 10 prizes now paid in these ways.
Customers can find instructions on how to change their prize payment preferences by visiting the NS&I website and can check using the firm’s online prize checker or the prize checker app to see if they have unclaimed wins.
Eastell said: “There is no need to panic if savers have forgotten or lost their premium bonds. Any unclaimed prizes can be easily checked. However, if savers have misplaced any of these or are trying to track down gifted or a deceased relative’s Premium Bonds, they could be harder to trace. In this case, savers will need to contact NS&I directly and will be asked to provide some additional information.”