
To cash in your Premium Bonds, you'll need to fill out a cash in form. This form can be found on the NS&I website or by contacting their customer service team.
The cash in form will ask for your name, address, and Premium Bonds account details. Make sure you have all this information handy before you start filling out the form.
You can cash in your bonds in whole numbers, such as £1, £5, or £10, but you can't cash in a partial bond. For example, if you have a £5 bond, you can't cash in just £3 of it.
The cash in form will also ask you to specify which bonds you want to cash in.
Cashing-in Process
The process of cashing-in premium bonds online is surprisingly simple, requiring just basic information like your name and bond numbers.
You'll need to fill out an application form, which is usually straightforward and can be completed in no time.
Completing the form requires accuracy, so be sure to review your information carefully before submitting it.
Once you've confirmed and submitted the form, you can expect to receive your funds through your chosen payout method, such as bank transfer or cheque, with timelines varying based on the provider's policies.
How They Work

You can purchase Premium Bonds in multiples of £25, with a minimum initial investment of £25. Each £1 invested represents one bond number, and bondholders can hold multiple bonds.
You can invest up to a maximum of £50,000 per person. This means you can buy a large number of bonds, but be aware of the limit.
Each bond number can win from £25 to £1 million in the monthly prize draws. The prizes are tax-free, so you'll receive the full amount without any deductions.
Prize draws are conducted by Electronic Random Number Indicator Equipment, ensuring the results are fair and unbiased.
Step-by-Step Guide to Cashing-in Online
To start the cashing-in process online, you'll need to provide some basic information, such as your name and bond numbers.
You'll typically find that the application form is straightforward, with common questions revolving around expected timelines and payout methods.
Review your form carefully to ensure all details are correct, and then confirm and submit the online form.
Once you've submitted the form, you can expect to receive your funds through your chosen payout method, such as bank transfer or cheque, with timelines varying based on the provider's policies.
Form and Completion

To cash in your Premium Bonds, you'll need to access the online form, which can be done by logging in to your account or cashing in specific Bonds without an account.
You can also cash in Premium Bonds online without registering, which is perfect if you want to cash in specific Bonds or don't have an account.
To complete the form, you'll need your holder's number and bank account details, as well as your Bond record, if you're cashing in specific Bonds.
- Cash in my Premium Bonds: You’ll need your holder’s number and bank account details to hand. Please also have your Bond record ready, if you’d like to cash in specific Bonds.
- Cash in my child’s Premium Bonds: You’ll need your child’s holder’s number and your bank account details to hand. Please also have your child’s Bond record ready, if you’d like to cash in specific Bonds.
Notice Period Requirements
You can cash in your Premium Bonds at any time without needing to give any notice. Typically, the process can be completed promptly through National Savings and Investments (NS&I).
The notice period requirements for cashing in Premium Bonds are straightforward. You don't need to give any notice at all.
Cashing in your Premium Bonds is a relatively hassle-free process, and NS&I usually completes it quickly.
Fillable Online Form Completion Guide

To complete a fillable online form for cashing in Premium Bonds, you'll need to provide your holder's number and bank account details. You can cash in your own Bonds or your child's Bonds, and you'll need the holder's number and your bank account details to hand.
You can cash in specific Bonds if you have your Bond record ready. If you're not registered, you can still cash in your Bonds online without creating an account.
To complete the application form, you'll typically need to provide your name and bond numbers. You can review the information for accuracy and ensure all details are correct before confirming and submitting the online form.
Here are the steps to complete the form:
1. Log in to your account or cash in your Bonds online without creating an account.
2. Provide your holder's number and bank account details.
3. Review the information for accuracy.
4. Confirm and submit the online form.
Worth a look: Is Premium on Bonds Payable a Contra Account

5. Receive your funds through your chosen payout method, such as bank transfer or cheque.
If you're having trouble filling out the form, you can use a step-by-step guide or video instructions to help you complete it. Some providers also offer FAQs to answer common questions about the cash-in process.
Security and Ease
You can rest assured that your premium bonds cash in form is secure. The National Savings and Investments (NS&I) website is protected by a high level of security.
The NS&I website uses a 128-bit encryption to protect your personal and financial information, making it virtually impossible for hackers to intercept your data. You can also check the website's security certificate to ensure it's genuine.
With the NS&I website, you can easily cash in your premium bonds online, and the process is usually completed within a few minutes.
Navigating with Ease and Security
You can effortlessly modify and eSign cash in premium bonds with airSlate SignNow, making it a breeze to manage your documents.

With airSlate SignNow, you can access your documents from any device and say goodbye to lost or misplaced files. You can even share your form via email, SMS, invitation link, or download it to your computer.
airSlate SignNow offers a range of tools to help you fill out your form, including the ability to emphasize important sections and redact sensitive details. This ensures that your documents are secure and compliant.
You can also create your electronic signature using the Sign tool, which takes moments and carries the same legal validity as a conventional wet ink signature.
Here are some of the features that make airSlate SignNow a great option for navigating with ease and security:
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Anger Costs More Than Savings
Cashing in Premium Bonds can be a frustrating experience, especially when the process costs more than the value of the savings itself. A Premium Bonds holder was left frustrated after discovering that the cost of sending a form to cash in their £1 bond would be more than the bond's value.
Intriguing read: Cash Value vs Cash Surrender Value

To avoid this issue, make sure to check if you have a holder's number, which would allow you to complete the online Cashing In form. This can save you money and time in the long run.
Each saver can hold up to £50,000 in Bonds, and many customers arrange their accounts to reinvest their winnings in buying more Bonds to increase their chances of winning again. The odds for winning a prize with Premium Bonds currently stand at 21,000 to one, with each £1 Bond having a 21,000 to one chance of being paired with a prize.
If you're waiting for matured bonds to be transferred to Premium Bonds, be prepared for a wait – one saver had to wait seven weeks for their transfer to be processed.
Returns and Inheritance
If you're considering cashing in your premium bonds, you should be aware of the tax implications.
Tax-free returns are available on premium bonds, so you won't have to pay tax on the interest you earn.
Expand your knowledge: What Is 1099 Tax Form
You can cash in your premium bonds at any time, but be aware that you'll lose the chance to win future prizes if you do so.
Tax-free returns on premium bonds are only available if you've held them for at least 30 days, so be sure to hold onto them for at least a month before cashing in.
Maximizing Your Returns
Cashing in premium bonds frequently can affect future prize eligibility, so it's essential to weigh this against reinvesting them.
Strategic considerations in managing premium bonds can significantly impact returns, making informed financial decisions crucial.
To maximize returns, premium bonds should be integrated with a broader financial strategy, diversifying your portfolio.
Evaluating overall savings strategies ensures that premium bonds fit within your financial framework, maximizing benefits from all financial products.
How to Inherit After Probate?
Inheriting assets after probate can be a complex process, but it's essential to follow the right steps to ensure a smooth transfer of funds.

To start, you'll need to obtain a Grant of Probate, which confirms your authority to administer the estate, including any Premium Bonds.
Once you have the Grant of Probate, you should notify NS&I about the death of the bondholder and your authority to act on behalf of the estate.
NS&I will provide you with the necessary forms and guidance for cashing in the Premium Bonds, which can then be transferred to the estate's nominated bank account or distributed according to your instructions.
The funds from the cashed-in Premium Bonds will be transferred to the estate's nominated bank account or distributed according to the instructions provided.
Redemption and Savings
You can reinvest the money from your cashed-in Premium Bonds into another savings product of your choice. This is a great option to consider, especially if you want to keep earning interest on your money.
There are no fees or charges for cashing in your bonds, making it a straightforward process. You can cash in your bonds through National Savings and Investments (NS&I) online, by phone, or by post.
If you hold your Premium Bonds jointly with someone else, both bondholders must agree to the cash-in request. The funds will be paid into a nominated bank account held in both names.
Additional reading: How Long Does It Take to Cash in Bonds
Will I Lose Unclaimed Prizes If I Redeem?
You can cash in Premium Bonds held in the name of someone who has died, but the process may vary depending on the specific circumstances.

You won't lose any unclaimed prizes if you cash in your Premium Bonds. Any prizes you have won but not yet claimed will be paid to you before your bonds are cashed in.
Cashing in your Premium Bonds won't affect any unclaimed prizes, so you can rest assured you'll get what's yours.
Reinvesting Savings
Reinvesting your savings can be a smart move, especially if you're looking to grow your money over time. You can reinvest the money from your cashed-in Premium Bonds into another savings product or investment opportunity of your choice.
If you're holding Premium Bonds jointly with someone else, you'll need to get both bondholders to agree to the cash-in request. The funds will then be paid into a nominated bank account held in both names.
You can cash in your Premium Bonds without incurring any fees or charges, and it's a straightforward process that can be done online, by phone, or by post.
Frequently Asked Questions
What is the easiest way to cash in Premium Bonds?
Cashing in Premium Bonds is easiest online through NS&I, where you can do it quickly and fee-free. Simply log in to your account to start the process.
Can you still get premium bond forms from the post office?
No, you can no longer find NS&I brochures, forms, and reply envelopes on display at Post Office branches. However, you can still purchase Premium Bonds at a Post Office counter using a debit card or cheque.
Sources
- https://www.nsandi.com/downloads-and-forms
- https://www.signnow.com/fill-and-sign-pdf-form/233949-premium-bonds-cash-in-form
- https://www.pdffiller.com/442702643--premium-bonds-cash-in-form-online-
- https://www.derbytelegraph.co.uk/news/cost-of-living/premium-bonds-anger-required-form-9649005
- https://lawhive.co.uk/knowledge-hub/money-tax-debt/cashing-in-premium-bonds/
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