Premium Bonds holder receives winnings cheque in wrong name

World News

NS&I has explained the process for how a Premium Bonds customer can change their details after a woman received a winnings cheque in her maiden name.

Twitter user @rebeccalpen contacted the provider to ask: “I won in the July draw and received a cheque today in my maiden name,however my bank account is in my married name. Do you know if this will be an issue/what I can do?”

NS&I said she may be able to cash in the cheque anyway. The provider said: “You could take it to your bank and see if they would let you cash it.

“If not, then you can have your name changed by filling in a change of details form and posting it to us with a witness signature enclosed on a covering letter.”

The provider then sent her a link to an online pdf version of a ‘Changing your details’ form.

READ MORE NS&I clarifies rules after deceased woman had £300 in missing winnings

The group then said: “Once updated, you can then call and request that your prize be reissued.

“To save yourself some time in future, however, you could have your prizes set to be paid into your bank account.”

NS&I also asked her if she was registered online. She said she was but when she was changing her address two weeks ago, she couldn’t see how to change her surname.

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She responded: “I will try the bank this week and if no joy, I will do what you’ve suggested above.”

People with Premium Bonds will have a better chance of winning from August, as the prize fund rate increases from 3.7 percent to four percent.

Each £1 Bond has an equal chance of winning in the monthly prize draw, with the chances of winning increasing to 22,000 to one from next month.

A person can have up to £50,000 in Premium Bonds and the more Bonds a person has, the better their chances of winning.

Winners often choose to reinvest their winnings by buying more Bonds to increase their chance of winning again.

Each monthly prize draw includes two jackpot prizes for £1million and other large prizes including £100,000 and £50,000.

For the latest personal finance news, follow us on Twitter at @ExpressMoney_.

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