Encashing my Prize Bonds.

L

Laramie

Registered User
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510
Two questions if I may.

Do I have to send my actual Prize Bonds with my repayment form when cashing them in. On the form it says I have to return my Prize Bonds but it also says I only have to return the numbers of my Prize Bonds.

and

Can I opt to have my payment sent to me by cheque rather than having to give my IBAN details.

Thanks
 
Laramie said:
Can I opt to have my payment sent to me by cheque rather than having to give my IBAN details.
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Why would you do this? One involves a letter and a trip to a bank. The other involves the funds directly landing in your account.

Sharing your IBAN is basically risk free. The only thing anyone can do with that piece of information is pay you money.
 
Laramie said:
Do I have to send my actual Prize Bonds with my repayment form when cashing them in.
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This is the note on the Form :

2. PRIZE BOND DETAILS
Please note that it is optional to return the bond certificates with your request. However if not returning the bond certificate(s), we require details of the bond range(s) you wish to have repaid

The website also says that it is optional (https://www.statesavings.ie/help-su...re, Killorglin, FREEPOST, Co. Kerry, V93 WN9T).

As an aside I have not been issued an actual bond certificate with any recent purchase - just the bond sequence ranges. I assume this is general?
 
Early Riser said:
As an aside I have not been issued an actual bond certificate with any recent purchase - just the bond sequence ranges. I assume this is general?
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How were you issued with the bond numbers?
The A4 page that they send out by post these days IS the bond certificate.
They don't issue the approximately cheque sized bond certificates any more - since c. September 2022.
 
Early Riser said:
The website also says that it is optiona
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Thanks.

On the back of the form that I got today it says. "Please return completed Application Form, together with your Prize Bonds and copy bank statement to NTMA......."

It does say later, that returning these is optional.....

Does anyone know if I can receive my payment by cheque.
 
Laramie said:
Does anyone know if I can receive my payment by cheque.
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I can't confirm but I expect that if your omit your bank account details on the Form you will be paid by cheque (you could include a note requesting this). Clearly they would prefer direct bank transfer but this is optional :

"Once a valid repayment request has been received State Savings may issue payment within 7 working days. You may request repayment direct to your bank account."

Ireland State Savings - Help & Support | State Savings

Browse and search our help articles, download an application for or a brochure
www.statesavings.ie www.statesavings.ie
 
I had some bonds repaid in last year and had a cheque for payment. It took about 8 weeks.
 
I was an executor and wanted the 'paper trail' of very old bonds so no account registered. 50 punts there for over 30 yrs, never won anything. That is a huge difference....2 days vs. 2 mths!
 
I contacted them and was told to simply put a note on the form and they will post a cheque.

My only concern was that they wanted a copy of the header of my bank statement. This contains a little more information than my IBAN.

Maybe I am being too cautious.

Thanks everyone for your comments.
 
Laramie said:
Maybe I am being too cautious.
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You are.
As explained earlier there's practically zero security risk in providing them with your bank details so that they can pay the encashment directly to your bank in a matter of days.
Instead you're opting for encashment by cheque which could take weeks.
 
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