How to Get Premium Bond Winnings Paid Into Your Bank Account?
• August 7, 2026
To have future Premium Bonds winnings paid into your bank account, log in to NS&I using your NS&I number and password. Open Your profile, select Your prize options, and choose payment into your bank account or NS&I Direct Saver.
Check that the nominated account connected to your Premium Bonds is correct. NS&I can also notify you by email or text when you win.
What Premium Bonds Prize-Payment Options Are Available?
NS&I offers three main ways to receive Premium Bonds prizes:
| Payment option | How it works | Main consideration |
|---|---|---|
| Bank account or Direct Saver | The prize is paid electronically | Your nominated account must be valid |
| Reinvestment | The prize buys more Premium Bonds automatically | Your total holding cannot exceed £50,000 |
| Cheque by post | NS&I posts the prize payment | It normally takes longer |
Reinvested prize money buys additional Bonds that are eligible for the following draw. Postal cheques remain available, but NS&I describes electronic payment or reinvestment as quicker and safer.
How to Get Premium Bond Winnings Paid Into Your Bank Account?
The process for registered customers is:
- Log in to your NS&I account.
- Open Your profile.
- Select Your prize options.
- Choose bank payment and confirm your nominated account.
You need your 11-digit NS&I number to log in. NS&I uses two-factor authentication, so make sure the telephone number registered on your account is current.
Changing your nominated bank account does not necessarily change your prize preference. Check both Nominated accounts and Your prize options, particularly if your winnings are currently being reinvested.
Which Bank Accounts Can NS&I Pay?
Your nominated account must be:
- A personal UK bank account
- Held in your name
- Registered at the same address as your NS&I account
NS&I says it cannot pay money into a business account or through a third-party payment service. These requirements mean you should update your NS&I address before adding an account registered at a new address.
A joint account may be acceptable where you are a named account holder and the other requirements are met, but check directly with NS&I when the ownership or address details are unusual.
How Do You Change Your Nominated Bank Account?
To replace an old, closed or incorrect bank account:
- Log in or register with NS&I.
- Go to Your profile.
- Choose Nominated accounts.
- Change the account linked to your Premium Bonds.
- Complete the security check.
When you add new bank details, NS&I sends an automated telephone call as an additional security check. Customers who are not registered may need to complete and post the relevant form.
When you add new bank details, NS&I sends an automated telephone call as an additional security check. Customers who are not registered may need to complete and post the relevant form.
Keeping the nominated account current is just as important as selecting bank payment for future prizes. NS&I has urged Premium Bonds holders to review their contact and bank details, particularly after moving home, switching banks or changing their telephone number.
An old address, closed bank account or outdated contact number can make it harder to complete security checks or receive prize notifications and payments without complications.
Holders who have owned Premium Bonds for many years should therefore review both their nominated account and personal details, even when they have not recently changed their prize-payment preference.
After updating the account, return to Your prize options and confirm that bank payment is selected.
What If You Do Not Manage Your Premium Bonds Online?
You can change how you receive Premium Bonds prizes without creating an online banking profile. NS&I provides a prize-options form that asks for your preferred payment method and nominated bank-account details.
Registered customers can also make the change through NS&I’s telephone service.
Use the official NS&I website or a trusted telephone number. Do not follow unexpected links in prize emails or text messages.
How Long Do Premium Bond Winnings Take to Reach Your Bank?
NS&I says prize money paid electronically will normally reach your bank account by the seventh working day of the month. Weekends and bank holidays do not count as working days.
If the money has not appeared after the seventh working day, contact NS&I and ask it to check the bank details recorded on your account.
Prizes of £5,000 or £10,000 are normally paid according to your existing instructions, although NS&I may first send a claim form that must be completed and returned.
The £1 million jackpot follows a separate process, with the winner contacted in person by NS&I’s Agent Million.
Why Has My Premium Bond Prize Not Arrived?
First, check whether your prize was set to be paid into your bank or automatically reinvested. A prize that has bought more Bonds will not appear as cash in your current account.
Next, check your nominated-account details. The payment could be delayed or rejected if the account has closed or the information no longer matches NS&I’s records.
Postal cheques can take until the end of the month to arrive. They expire after three months, but NS&I can issue a replacement if a cheque is missing or has expired.
Can Old Unclaimed Prizes Be Paid Into Your Bank Account?
You can use NS&I prize checker to view prizes from the current month, the previous six draws and older unclaimed winnings. You can also log in to view your prize history.
The payment process for an old unclaimed prize can differ from the process for future winnings.
NS&I states that unclaimed prizes claimed by post are sent to the holder’s home address as a warrant and cannot be paid directly into a bank account through that process.
Registering online allows you to arrange for future prizes to be paid into your bank account.
Is Receiving a Prize the Same as Cashing In Premium Bonds?
No. A prize payment is money won in the monthly Premium Bonds draw. Cashing in means withdrawing some or all of the money you originally invested.
NS&I says Premium Bonds withdrawals normally take three to five days to reach a bank account. This is a different timeframe from the seventh-working-day guidance for monthly prize payments.
Example: Changing From Reinvestment to Bank Payment
Suppose Sarah’s £25 and £50 prizes are currently reinvested automatically. She wants future winnings available for household expenses.
Sarah logs in, opens Your profile, checks that her current account appears under Nominated accounts, and then changes Your prize options from reinvestment to bank payment.
Future ordinary prizes will be sent to the selected account rather than used to buy more Bonds.
Conclusion
To get Premium Bond winnings paid into your bank account, check two settings: your nominated bank details and your prize-payment preference.
Keeping both up to date should ensure that future ordinary prizes are paid electronically rather than reinvested or sent by post.
Frequently Asked Questions
How do I stop Premium Bond prizes being reinvested?
Log in, open Your profile, select Your prize options, and change the preference from reinvestment to bank payment.
Can Premium Bond winnings be paid automatically?
Yes. NS&I can pay future prizes automatically into an eligible nominated UK bank account or an NS&I Direct Saver.
How long does an NS&I prize payment take?
An electronic Premium Bonds prize will normally arrive by the seventh working day of the month.
Can prizes be paid into someone else’s account?
NS&I requires the nominated personal UK bank account to be in your name and registered at the same address as your NS&I account.
What happens if my nominated bank account is closed?
Update the account under Nominated accounts, confirm your prize preference and contact NS&I if a payment is already outstanding.
Can I change my NS&I bank details online?
Yes. Registered customers can change linked bank details through Your profile and Nominated accounts.
Are Premium Bond winnings taxable?
No. NS&I states that Premium Bonds prizes are exempt from UK Income Tax and Capital Gains Tax.
