NS&I Premium Bonds customers rush to 'cancel' accounts and say 'rumour is true'

The frustrated Twitter user reached out on the social media platform, now known as X.

A National Savings and Investments warning has been issued - as a Premium Bonds saver considerscashing in his Bonds and ditching the scheme. The frustrated Twitter user reached out on the social media platform, now known as X.

The saver said: "What people say about NS&I Premium Bonds is true. They let you win first few months then nothing. Giving it one more month and then taking all my money back out." In reply, NS&I said: "It is an essential feature of the Premium Bond scheme that winning is solely a matter of luck, and there can be no guarantee of any level of return whatever the value of the holding.

"The random nature of the prize draw means that there is no predictable pattern to the frequency or value of prize wins. It is possible to experience months without winning a prize, as well as months with multiple wins. May I take this opportunity to wish you luck in future prize draws."

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Currently, a Bond holder can have up to £50,000 invested in Premium Bonds, and any new addition must be at least £25. Customers who want to see if they've got unclaimed prizes can do so using the prize checker tool on the NS&I website.

In a related issue, another saver recently reached out to NS&I voicing their dissatisfaction with the constraints of the savings service. Expressing their frustration, they said: "It still infuriates me, the Premium Bond prize checker app only displays last six draws. Surely it's possible to show the last 12 months on the app, as a minimum."

An NS&I spokesperson explained: "Our prize checker is set up so that the last six months can be viewed. If you would like to view your prize history for the last 18 months, this can be viewed by logging into your online account here. We appreciate your comments and have passed this on as feedback for you."

They also provided a link to the NS&I website's login page, where customers can access their accounts.