Can you buy premium bonds as a gift for someone over 16?

Can you buy premium bonds as a gift for someone over 16?

Can you buy premium bonds as a gift for someone over 16?

Yes you can - although there are some rules. You yourself need to be at least 16-years-old to buy them for yourself or someone else. If you have a child younger than 16, you can buy Premium Bonds online, by phone or by post, or by switching money from another NS&I account in the child's name.

How can a 16 year old buy premium bonds?

When you've registered and logged in, you'll see a summary on your homepage of any Premium Bonds you have. You'll then be able to buy more Bonds, cash them in, choose how your prizes are paid and update your details.

Can grandparents buy premium bonds online?

Grandparents can buy premium bonds for their grandchildren in the same way they may do so for themselves. They can buy them online, via telephone or post, and will need to have registered with NS&I beforehand. Once grandparents have set up an account, they will need to take charge of it until their grandchild turns 16.

What happens to premium bonds when you turn 16?

Until the child's 16th birthday, the parent or guardian named on the application looks after the Bonds, regardless of who bought them. We'll send confirmation of any transactions made, prizes won and payment for cashed-in Bonds to the nominated parent or guardian until the child is 16.

How do I pay into someone's premium bonds?

Topping up your savings

  1. Premium Bonds. Pay by bank transfer or standing order. ...
  2. Income Bonds. Pay by bank transfer or standing order. ...
  3. Direct Saver. Pay by bank transfer or standing order. ...
  4. Direct ISA. Pay by bank transfer or standing order. ...
  5. Junior ISA. Pay by bank transfer or standing order. ...
  6. Investment Account.

How do I use my premium bonds over the phone?

It's easy to buy Premium Bonds, all you have to do is apply through the NS&I website. Alternatively, you can apply over the phone by calling 08085 007 007 or +44 1772 329880.

How do I use my Premium Bonds over the phone?

It's easy to buy Premium Bonds, all you have to do is apply through the NS&I website. Alternatively, you can apply over the phone by calling 08085 007 007 or +44 1772 329880.

Do Premium Bonds die with you?

Premium Bonds can't be passed on if you die, but what they're worth will be. Premium Bonds can't be passed on. If a Premium Bond holder dies, the bonds only remain eligible to win for 12 months. So the only way to pass them on is to cash them in and then that forms part of the deceased's estate.

Can I give my premium bonds to my son?

How does it work? Anyone can buy Premium Bonds for a child under 16. ... If you're not the parent/guardian of the child, you'll need to let them know before buying Premium Bonds as we'll contact them directly for things like providing evidence of identity and address.

How old do you have to be to buy Premium Bonds?

How will the premium bonds changes work? As of 19 August, any adult over the age of 16 can join grandparents and parents/guardians in buying premium bonds for children. Premium bonds can be bought by post or online.

Can you buy Premium Bonds as a gift?

Buying Premium Bonds as a gift online In the Autumn Budget 2018, it was confirmed that gifting Premium Bonds will become more accessible, reducing the minimum investment to £25 and allowing people other than parents, guardians or (great) grandparents to buy them for children aged under 16.

What's the minimum bond to buy for a child?

Any bonds bought in a child’s name will be managed by their parent or guardian until the child turns 16. In February 2019, the NS&I cut the minimum bond investment from £100 to £25, making it easier for those on all budgets to purchase premium bonds.

Is it easier to buy Premium Bonds for grandparents?

This is partly down to changes in August 2018, which allowed grandparents to go online to buy premium bonds gifts, rather than just via post. This, coupled with the minimum investment reduction, means that premium bonds are an easier gift option than ever before.

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