PREMIUM BONDS

[Lofos-Jan]

Just received a letter from NS&I to say that following Brexit and the closure of many bank accounts, I can no longer hold my premium bonds (after more than 50 years) because it is conditional on having a UK bank account. I feel this is maybe my final tie with the UK (apart from family) and a pretty sad occasion.

Jeanne

[WHL]

Just received a letter from NS&I to say that following Brexit and the closure of many bank accounts, I can no longer hold my premium bonds (after more than 50 years) because it is conditional on having a UK bank account. I feel this is maybe my final tie with the UK (apart from family) and a pretty sad occasion.

Jeanne

Ive got a feeling this isn't Brexit related, You had to be a UK resident to buy Premium bonds, this has been the case for many years before Brexit.

[Lofos-Jan]

No it’s Brexit - you have to have a UK bank account not be a resident. I’ve had my Cyprus address with them for 20 years.

It says:

Since the Brexit transition period ended on 31st December 2020, some banks and building societies told heir customers living in certain EU countries that hey will no longer be permitted to hold accounts. As you live in one of those countries, we realise this could affect…….etc. etc. and I need to have a UK account to continue to hold and operate an account with NS&I.

Basically I have to provide details of a UK account and since my UK account was closed due to Brexit - I am stuffed.

Never mind - it’s just the OPAP joker for me now!

Jeanne

[josef k]

Revolut would count as a UK bank account, having a sort code and account number, if that is at all helpful.

[WHL]

Revolut would count as a UK bank account, having a sort code and account number, if that is at all helpful.

I would be very careful. might come under a gray area, what happens if you win and they refuse to pay out?.

[josef k]

I guess the best thing would be to check with National Savings.

[Lofos-Jan]

Thanks, I’ll give that a try and ask them.

Jeanne

[aphrodite]

I wonder if you requested that any winnings were reinvested in new bonds if that would work. There would be no need of a bank then. However, if you won a million……….

Probably not, just my logic!!