€25k invested in prize bonds

Sligo Quay

Hibernicis wrote: »

Based on their behavior at present it looks like the last thing the banks want is an inflow of funds and so there is unlikely to be any pressure from that quarter.
.

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

blindside88

Sligo Quay wrote: »

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

A very quick answer on this so as not to drag the thread off topic. The banks can only hold a certain amount on their own books, anything in excess of this needs to be put on deposit with larger banks (in Germany etc) any funds that the banks put away in this manner on terms of less than 2 years currently attract negative interest rates. Therefore the banks are actually losing money on this.

Hibernicis

Sligo Quay wrote: »

Not to derail the Prize Bond thread, but just a quick question, why do the banks not want our money anymore, I thought money was their business, paid small interest on deposits and charge higher interest on loans.
I don't want a full blown discussion on banks, just a quick reply on why banks don't want funds.

Your assumption "I thought money was their business, paid small interest on deposits and charge higher interest on loans" is correct, and works so long as there is a demand for loans/borrowing. At present, the demand for loans from viable borrowers is weak therefore the banks/credit unions etc are ending up with large amounts of deposits that they can't find a home for and as blindside88 said this costs them money to put on deposit. Many Credit Unions have drastically reduced the maximum that an individual can hold on deposit (my local CU dropped it's limit from 45k to 20k in the last 12 months) to stem the inflow. The banks are in the process of capping large deposits and/or introducing negative rates to stop the inflows. The simply have more money on deposit than they know what to do with and they don't want any more. Hope this is clear.

The relevance of this for Prize Bonds is that there is no reason for the Irish Government to pay 0.5% interest at present, it could borrow at a fraction of this, and potentially interest free.

Apologies if I've derailed the thread. It wasn't intentional.

Hibernicis

Winnings on 23rd October €50
Last win: 25th September €50
Weeks since last win: 4

2017 (Jul-Dec) - €100k – 7x€50 = €350
2018 (Jan-Dec) - €200k – 12x€50 = €600
2019 (Jan-Dec) - €250k – 20x€50 = €1,000
2020 (Jan-Oct) - €252k - 21x€50 = €1,050

Andrew Flexing

50 squid today.
hope everyone else here has similar luck!

Jan: XXXXX
Feb: €XXX
Mar: XXX€
Apr: €XX€
May:€€XX
Jun: XXXX
Jul: €XXX
Aug: XXXXX
Sep: €XXX
Oct: XXX€

maebee

50 euro for us again today ðŸ˜

ANF Bond, bought January 2019

Andrew Flexing

is the 'glitch' back?

tuisginideach

The glitch certainly isn’t affecting me - second half of the year has been a disaster - and the first half wasn’t much better!

pbwinner

Winnings on 23rd October 2020: €0
Last win 25th September 2020: €50
Total winnings on €25k from Feb 2011 to date: €3050
2011: €75 x 4 €300
2012: €75 x 6 €450
2013: €50 x 12 €600
2014: €50 x 9 €450
2015: €50 x 5 €250
2016: €50 x 5 €250
2017: €50 x 4 €200
2018: €50 x 2 €100
2019: €50 x 6 €300
2020: €50 x 3 €150

PB2018

No glitch for me either!

Wins on 23rd October 2020: €0
Last win - 25th September 2020: €50
Weeks since last win: 4
€134k invested in prize bonds since July 2017
Win ratio: 21 wins in 173 weeks (12%)
2017 (Jul-Dec): 5 x €50 = €250
2018 (Jan-Dec): 4 x €50 = €200
2019 (Jan-Dec): 5 x €50 = €250
2020 (Jan-date): 7 x €50 = €350

pbtracker

No glitch for me either :-( 8 weeks now without a win, maybe they are saving it for Christmas!

Winnings on 23rd October 2020: €0
Last win : €50 Aug 28th
Investment :
Up to Aug 2020 : €12K
Aug 2020 : €72K
Sept 2020 : €77K
Total winnings to date: €150

RINO87

Hey, so I've been digging around the thread a bit but cant really find an answer...

I've ~25K saved up as a house deposit. Partner may have to go on PUP so we figure the banks will tell us to take a hike if that happens. Is it possible to lump the 25K into prize bonds for the time being and access it again in one go at short enough notice?

John arse

RINO87 wrote: »

Hey, so I've been digging around the thread a bit but cant really find an answer...

I've ~25K saved up as a house deposit. Partner may have to go on PUP so we figure the banks will tell us to take a hike if that happens. Is it possible to lump the 25K into prize bonds for the time being and access it again in one go at short enough notice?

yeah after 3 months

adox

€50 for me today too. Woohoo.

Second win of the year.

dxhound2005

This is what real glitches look like.

Prize Value Winning Prize Bond Location

€50 YR398886 Tipperary
€50 YR398894 Tipperary
€50 AAA661494 Laois
€50 AAA661531 Laois

Nothing for me today.

Cork Lass

Nothing for us this week

Cal04

Haven't bought one in years but thinking about it now. Can you buy them online? What happens if you lost the bond, have you any proof of ownership? Thanks in advance

carrickbawn

tuisginideach wrote: »

The glitch certainly isn’t affecting me - second half of the year has been a disaster - and the first half wasn’t much better!

I know how you feel. But hang in there. I could not believe it when I checked today.
The glitch is real.
€ 50 euros again today.
Nothing for months. 3 wins in October.
Long may it last.

dxhound2005

Cal04 wrote: »

Haven't bought one in years but thinking about it now. Can you buy them online? What happens if you lost the bond, have you any proof of ownership? Thanks in advance

All the information is on the website. If you buy new ones, register them on the site and whenever you log in it will tell you if you have any new winners. A lost bond will only be an issue whenever you want to cash it in. This is what it says on the Repayment application form.

2. LOST PRIZE BOND
If the original Prize Bond Certificate(s) cannot be located please
attach a short note confirming same, please also provide any
variations in the name(s) and or address(es) that may have been
used at the time the Bonds in question were purchased. Once
we receive this information we will then contact you with our
additional requirements.

tuisginideach

Delighted for you carrickbawn.

maebee

We invested €50,000 in prize bonds in January 2019 and have won €450 since then. I'm fairly sure that our €50,000 would have earned about €50 in a bank savings account. Happy Days. Hopefully the big one is coming .

Jim2007

maebee wrote: »

We invested €50,000 in prize bonds in January 2019 and have won €450 since then. I'm fairly sure that our €50,000 would have earned about €50 in a bank savings account. Happy Days. Hopefully the big one is coming .

As negative interest rates are introduced, finding a safe place to place cash without having to pay for it will be a bonus in itself.

dxhound2005

Prize draws and low interest rates have been a feature of some bank and building society accounts in the UK for a few years. Reminiscent of the start of Premium Bonds and Prize Bonds with not many prizes.

https://www.yourmoney.com/saving-banking/the-cash-savings-prize-draw-alternatives-to-nsis-premium-bonds/

Cute Hoor

I'd guess that Credit Unions introducing maximum deposit amounts (most Credit Unions probably have a limit at this stage) is having a significant impact on the inflow of funds into Prize Bonds

LuasSimon

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

LawBoy2018

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Let people save their money in peace.. lol.

hawaii501

How does one get an SSCN number to purchase prize bonds online or can I just buy these at the post office?
I want to win the million euro draw

Rodney Bathgate

LuasSimon wrote: »

It’s a real first world problem to have worrying where your wealth can earn more .
A growing amount of people have nothing due to many jobs been minimum wage or close to it . Poor terms and conditions etc but the rich are getting richer . Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

Jog on, pal.

Agent Smyth

LuasSimon wrote: »

Anyone with over 500K in assets outside of their own house should be paying a wealth tax as these funds will be needed to fund food banks and accommodation for the working poor similar to the UK .

I can't help but wonder if you found yourself in this position, would you agree to a tax on your so called excessive wealth and how much tax do you think would be justified to help out the "working poor"

tuisginideach

Family member here still trying to get an SSCN - all documentation has been submitted in June as requested by State Savings, online query submitted August (seemimngly it wasn't/it isn't working) , phone call to helpline made September, and another form sent out to us to be filled in and returned to Fexco, did that, letter Friday saying they need all the documentation ... again :(:mad::mad: