NS&I announces major change affecting Premium Bonds prizes - some need to take action
NS&I: The top Bonds which could help Britons grow their money
The change will mean those customers will receive prizes more quickly, more easily and more securely, NS&I said.
Currently, almost three quarters (74 percent) of Premium Bonds prizes are paid directly to customers' bank accounts or are automatically reinvested.
NS&I said payment by BACS is more cost-effective and environmentally sustainable compared to warrants sent by post.
At the moment, there are more than 1.8 million unclaimed Premium Bonds prizes, worth more than £67million.
However, this change to the payment of prizes by BACS will help prevent any prizes won by new Premium Bonds customers from going unclaimed.
READ MORE: NS&I urges savers to do this as September 2020 Premium Bonds results unveiled
More on: www.express.co.uk