How Do I Cash In Premium Bonds? A Step-by-Step Guide
Cashing in Premium Bonds means withdrawing money from a Premium Bonds holding issued by NS&I (National Savings and Investments), in full or in part, through its online account, phone service, or a postal form.
As of the September 2026 draw, the bonds carry a 4.35% annual prize fund rate, though returns depend entirely on chance.
Key takeaways
- Premium Bonds can be cashed in online, by phone, or by post at any time, with no fees, charges, or notice period.
- Online and phone requests submitted before 8 PM normally reach a nominated bank account by the end of the next banking day, for amounts up to £50,000.
- Cashing in Premium Bonds on someone else’s behalf requires a certified copy of a Lasting Power of Attorney (LPA), NS&I does not accept an uncertified photocopy.
Three Ways to Cash In Premium Bonds: Which Is Fastest?
Online and phone requests are the fastest way to cash in Premium Bonds, normally reaching a nominated bank account within one to four banking days; postal requests generally take the longest once processing and delivery time are both counted.
| Method | What’s needed | Typical timing |
|---|---|---|
| Online | NS&I holder’s number and password | End of the next banking day (requests before 8 PM, up to £50,000) |
| Phone | NS&I holder’s number and password | Between 2 and 4 banking days |
| Post | Cash-in form, plus bond certificates if held | Form processed the next banking day; funds arrive 2 banking days later |
This comparison covers cashing in an entire holding, or letting NS&I decide which bonds to repay first. For cashing in specific Premium Bonds instead, see the sections below. All three methods are free of charge, Premium Bonds are backed 100% by HM Treasury, and NS&I never charges a fee to cash them in.
How to Cash In Premium Bonds Online or by Phone
The quickest way to cash in Premium Bonds is to log in online or call NS&I free on 08085 007 007, provided registration for the online and phone service is already in place.
Have the NS&I holder’s number and password ready, then select “cash in” or “take money out,” choose whether to withdraw all or part of the holding, and confirm the nominated bank account the funds should reach.
NS&I decides which bond numbers to repay when a cash-in is requested this way, normally repaying the oldest bonds first rather than asking which specific numbers should go.
Cashing in specific bond numbers online
Anyone who wants to keep certain bond numbers in the monthly draw, rather than let NS&I choose automatically, can use its separate online form for cashing in specific Premium Bonds.
This needs the bond record to hand, since it involves entering exact bond numbers rather than a total amount. It’s the one case where going online doesn’t mean NS&I decides which bonds are repaid.
How to Cash In Premium Bonds by Post
Post remains the only route for anyone not registered for NS&I’s online and phone service, or for cashing in specific bond numbers without using the online form above.
- Download and print the Premium Bonds cash-in form from NS&I’s website, or call 08085 007 007 for a paper copy.
- Fill in the NS&I holder’s number and tick whether all of the bonds, or only some of them, are being cashed in.
- To cash in specific bond numbers, enter the first number in each range held. Left blank, NS&I cashes in the oldest bonds first instead.
- Choose payment either by direct credit to the nominated bank account, or by warrant (a cheque-style payment) sent through the post.
- Sign and date the form, then post it together with any paper bond certificates held to NS&I, Sunderland, SR43 2SB.
Keeping a note of the date the form was posted is worth doing, since NS&I doesn’t send confirmation that it’s been received. Delays most often happen when documentation is missing or outdated.
What Documents Do You Need to Cash In Premium Bonds?
For a standard cash-in request, NS&I needs only the holder’s number, a password for online or phone requests, and the nominated bank account details.
- NS&I holder’s number
- Password, for online or phone requests
- Bank account details for the nominated account, if not already on record
- Bond certificates, for anyone holding paper certificates and applying by post
- Evidence of identity, if NS&I asks for it, a standard check required under Money Laundering Regulations, not a sign that something has gone wrong
What to do if bond details are lost
If you have lost your bond certificates or NS&I holder’s number, you can still trace and cash in the bonds. You have two options:
- Use the free My Lost Account service, run jointly by UK Finance, the Building Societies Association, and NS&I.
- Download and post a tracing request form directly from the NS&I website.
The required documentation changes for those acting under a Power of Attorney.
Cashing in on someone else’s behalf
Anyone cashing in Premium Bonds under a Power of Attorney must send NS&I a certified copy of the Power of Attorney document, an uncertified photocopy isn’t accepted under any circumstances.
NS&I’s own guidance states the copy must be certified by the donor (if they still have capacity), a solicitor, a chartered legal executive, or a notary public, and that each page must carry the certifier’s signature, printed name, and occupation.
This requirement comes up often in practice, for example, where someone holds a Lasting Power of Attorney for an elderly relative now living in a care home, and finds old, pre-internet paper bond certificates worth a modest amount that were never cashed in.
- NS&I’s process still requires the certified LPA copy and the original certificates by post in cases like this, regardless of how small the value being cashed in actually is.
- Sending an original certified copy rather than a photocopy the first time avoids the delay covered in the next section.
How Long Does It Take to Receive the Money?
NS&I pays most cash-in requests within one to four banking days of receiving the instruction, depending on the method used and the time it’s submitted.
| Method | Cut-off time | When funds normally arrive |
|---|---|---|
| Online | Before 8 PM | End of the next banking day (for amounts up to £50,000) |
| Phone | Before 8 PM | Between 2 and 4 banking days later |
| Post | Received before 1 PM on a banking day | Processed the next banking day; funds arrive 2 banking days after that |
Instructions received after these cut-off times, or on a weekend or bank holiday, are treated as though they arrived the following banking day.
Any tax-free prizes already won (which can be verified using a Premium Bond prize checker) but not yet paid out are still released before the cash-in completes, whichever method is used.
To maximise your chances of winning, time your withdrawal carefully. NS&I calculates the prize draw based on bonds held for a full calendar month, so cashing in immediately after a new month begins means you won’t miss out on a draw your funds were already eligible for.
Because the absolute maximum holding limit for Premium Bonds is £50,000 per person, it is not possible to withdraw more than this amount. Any cash-in up to this legal maximum follows the standard one-to-four-day timelines outlined above.
Why a Cash-In Request Gets Delayed or Rejected
A cash-in request most often stalls over three things: incorrect security answers, an out-of-date nominated bank account, and an uncertified Power of Attorney copy, all documented in real complaints reviewed by the Financial Ombudsman Service, the independent body that investigates unresolved disputes between consumers and financial firms.
In one case, a Premium Bonds holder answered her online security questions incorrectly, which led NS&I to post a new password rather than release it immediately, adding several days to her cash-in.
In another, NS&I paid a request to a bank account the holder had already closed, having used an outdated account number rather than confirming the nominated details were current.
A third case involved a Power of Attorney copy that NS&I rejected because it was a photocopy of a certified copy rather than a fresh certified original, NS&I destroyed the photocopy under its own rules and required a newly certified copy before it would release the funds.
Checking that the nominated bank account is still current, and that any Power of Attorney copy sent is an original certification rather than a photocopy, avoids the two most common causes of delay found in these cases.
Cashing In Without Leaving Home
Every method of cashing in Premium Bonds, online, phone, or post, can be completed without visiting a branch or leaving home, since NS&I has no high-street presence for managing bonds that are already held. Two routes suit anyone who finds the internet difficult to use:
- By phone: call 08085 007 007, free from anywhere in the UK, to complete a full cash-in request without needing any online access at all.
- By post: fill in the paper cash-in form and send it with any bond certificates held no computer, smartphone, or account login is required at any stage.
NS&I’s accessibility statement confirms it can provide account information in large print, audio, or braille on request. Its “extra support” service can also flag an account so staff tailor how they communicate.
Cashing In a Child’s or a Deceased Person’s Premium Bonds
Two situations fall outside the standard process described above: cashing in a child’s Premium Bonds, and cashing in Bonds belonging to someone who has died.
- A child’s Premium Bonds can only be cashed in by the parent or guardian responsible for them. Payment is always made to that parent or guardian, never directly to the child.
- A deceased holder’s Premium Bonds cannot be cashed in using the standard cash-in form. NS&I asks that this be done by phone instead, since the exact process depends on whether probate the legal process of confirming who has authority to deal with someone’s estate, similar to navigating what happens to a bank account when someone dies is required, and on whether the bonds were held solely or jointly.
Importantly, executors do not need to cash in the bonds immediately. Premium Bonds remain eligible for the monthly prize draw for up to 12 months after the month of the holder’s death, meaning the estate could still win tax-free prizes while probate is being resolved.
Summary: The Cash-In Process
Cashing in Premium Bonds is straightforward for most holders: log in, call, or post a form, and the money follows within a few banking days.
The process only takes longer where documentation is missing, a nominated bank account is out of date, or someone is acting under a Power of Attorney, so checking these details before submitting a request is the surest way to avoid unnecessary delay.
Figures in this article reflect NS&I’s published rates and processes as of September 2026; individual circumstances vary, and readers should confirm current details directly via nsandi.com before acting
FAQs
How long does it take to cash in Premium Bonds?
Online and phone requests before 8 PM usually reach your bank account by the end of the next banking day. Postal requests take about three banking days total (one for processing, two for payment delivery).
Can you still cash in Premium Bonds at the post office?
No. NS&I withdrew Premium Bonds services from the Post Office in 2013. You must now cash them in directly through NS&I online, by phone, or by post.
Who can cash in a deceased person’s Premium Bonds?
The estate’s executor or administrator can cash them in or keep them in the prize draw for up to 12 months. NS&I requires this to be handled by phone, as the exact steps depend on whether probate applies.
Is it worth cashing in Premium Bonds?
This depends on your financial goals. Premium Bonds offer no guaranteed interest; returns rely entirely on the monthly draw (currently a 4.35% prize fund rate with 21,000-to-1 odds). Cashing in suits those seeking guaranteed returns or access to capital rather than relying on chance.
Are 50-year-old Premium Bonds still valid?
Yes. Premium Bonds never expire and remain eligible for the monthly draw until cashed in. Old paper certificates can be cashed in via post, provided the holder’s personal details are up to date.
Disclaimer: This guide is for informational purposes only and does not constitute professional financial or legal advice.
