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NS&I urges Premium Bonds customers to take action as changes loom – are you affected?

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With the new month rolling around, the October 2020 Premium Bonds prize draw results have now been released. This month, a man from Kent and a woman from Humberside have scooped a jackpot payout of £1million each.

The first Bond number drawn – belonging to the man from Kent – was 298BE137181.

This winner holds a total of £50,000 in Premium Bonds, and bought the winning Bond back in March 2017.

Following his win, the man has become the 22nd Premium Bonds £1million winner from Kent.

The second Premium Bonds millionaire this month is a woman based in Humberside, who had the winning Bond number of 222AT412192.

This is also part of a £50,000 holding, and she purchased the particular winning Bond back in June 2014.

This win makes her the third Premium Bonds millionaire from Humberside.

In the October 2020 prize draw, a total of 3,921,323 prizes worth £112,084,475 are to be paid out.

For this draw, there were 96,072,406,201 Bond numbers eligible.

As well as announcing details about the winners this week, NS&I has also issued a warning.

It comes following the government-backed savings provider announcing last month that it would begin to phase out the use of prize warrants from December 2020.

The move means the February 2021 Premium Bonds prize draw will be the last time that prize warrants are to be issued by NS&I – although some may be affected by the change before this.

Premium Bonds prize warrants will no longer be sent from March 2021, NS&I has confirmed.

Instead, customers can get any prizes they may win paid directly into their bank account or automatically reinvested up to the maximum £50,000 per person in Premium Bonds.

To ensure customers who currently receive any prizes they may win via prize warrants can continue to get them automatically, NS&I has warned action needs to be taken.

Those in this position need to provide NS&I with their bank and contact details.

Customers who have already registered for NS&I’s online service and who have an email address or mobile phone number can do this easily by visiting the website, clicking “Log in”, going to “Your profile” and selecting “Your prize options”.

Those who are not currently registered to manage their account online can do so via the website.

Jill Waters, NS&I’s Retail Director, said: We will be phasing out the use of prize warrants from the December 2020 Premium Bonds draw.

“While we understand that there is a real affection for prizes being received by post, paying prizes directly to customers bank accounts means that winners can receive prizes quicker, easier and more securely.

“We will continue to notify of prize wins but this will be by email or text message, or winners can chose to be notified by an Alexa enabled device.

“Part of the enduring magic of Premium Bonds is the thrill of finding out that you’ve won a prize, and this is something that will not change, as I’m sure our this month’s lucky jackpot winners in Kent and Humberside will to testify to.

“Huge congratulations to them both on winning this life changing sum of money.”

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