€25k invested in prize bonds

Hibernicis

https://www.boards.ie/discussion/comment/120852153#Comment_120852153

I'd agree that it makes little sense for somebody based in NI to invest £50k in PB rather than Premium Bonds. But for anybody living outside the sterling area there is also the exchange rate risk. GBP vs EUR has moved a lot over the years, and any potential gains from the higher nominal return on Premium Bonds could be wiped out and worse. Sterling has appreciated recently, and is expected to continue doing so, but given the UK's track record over the last few years, absolutely anything is possible. Taking the extremes over the last 20 years, you could loose (or gain) 50% of the amount you invested based on currency exchange fluctuations. This turns an "investment" into something of a gambling exercise, especially for anybody that might need to repatriate the money at short notice.

lordleitrim

https://www.boards.ie/discussion/comment/120851337#Comment_120851337

Well done on your win!

Just on your post, why don't you set up your account so that you get automatically emailed every time you win? Saves you having to log in each Friday.

Hibernicis

https://www.boards.ie/discussion/comment/120856173#Comment_120856173

Oh I have that set up since the day the online tracker became available, and I was one of the first to register an account so I get the emails. Just happened to have a browser open yesterday at 12:35 so I checked the tracker and nothing. Then saw an email arrive in at 12:57 and couldn't understand it. So tried the tracker again and hey presto, winnings were there.

pbwinner

Winnings on 21st July 2023: €0

Last win 5th August 2022: €50

Total winnings on €25k from Feb 2011 to date: €3300

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 5 = €250

2021: €50 x 1 = €50

2022: €50 x 1 = €50

2023: €50 x 1 = €50

dxhound2005

@pbwinner, that should read Last win 7th July 2023: €50

Nothing for me today. The oldest bond to win is from the second million ever issued, back in 1957. Unfortunately, the last time it won the prize went unclaimed.

21 July 2023

Prize Value Winning Prize Bond Location

€50.00 A291420 Dublin

Unclaimed / Uncashed Winnings

If unclaimed within 6 months, a prize becomes unclaimed. Find out more

For A291000 - A292000

Prize Bond Number Prize Value Status

A291420 €63.49 Unclaimed i

POBox19

Thanks @dxhound2005 "Uncashed Winnings For A291000 - A292000 A291420 €63.49 Unclaimed"

1000 bonds or £5000 was a huge investment in 1957. A life changing amount then. Their last win was £50 in 2001 or earlier, unclaimed. It begs the question, what does State Savings do about these customers? Do they look for them? It's not the small unclaimed prize, it's the total loss of all the money for someone's family.

dxhound2005

IR£5 was a weeks wages for lots of people back then. I just use a range of 1,000 whenever I do these searches, not suggesting that it was someone who bought 1,000 bonds.

From the 2022 Annual Report:

Unclaimed Prizes. At the end of 2022, the number of unclaimed prizes, built up since the launch of the product in 1957, amounted to €3.38 million. Unclaimed prizes are defined as not claimed after six months. It should be noted that we communicate with every prize winner at the address we have for the customer. Unclaimed prizes primarily arise due to customers not notifying us of their change of address. We encourage customers to notify us of any changes as early as possible after the change. The amount outstanding in these prizes is a very small part of the value of prizes awarded over the years since the incorporation of the Prize Bond Scheme. All prizes are listed on the State Savings website, www. StateSavings.ie. It is important to remember that prizes are held indefinitely until claimed by a bond holder.

This compares well with the €20 million a year which people do not bother to collect when they win a lottery prize. Which has to be done in 90 days or they lose it forever. Or the billions abandoned in dormant bank accounts. Not mentioned above is the fact that a lot of the €3.38 billion is uncashed prize cheques, which have to be accounted for in the company liabilities. It is up to people to take care with their own money. I don't know what you mean about total loss of families money?

POBox19

OK, I misunderstood, thought it was from a 1000 bond investment you were referring to. The point about the family's money is related to 1000 lost bonds where the unclaimed prize is one thing, but the cash tied up in bonds is also missing to presumably the relatives of someone buying bonds back in 1957.

dxhound2005

Prize Bond holdings at 31 December 2022. Number of separate Prize Bond holdings 7.65m. Fund value €4,694.6m.

It is up to me and you to look after our own. I wouldn't worry about other people.

dxhound2005

The €50K winner today was bought in the year 2000.

"This week’s Prize Bond Star Prize of €50,000 goes to lucky Prize Bond number CW 257159 held in County Wexford. The lucky bond was purchased in 2000. There were over 4830 prizes awarded in this week’s Prize Bond Draw, amounting to €305,450."

Ste91

Looking to purchase some Prize Bonds and have a couple of questions.

I have maybe €500 worth from when I turned 18 that would be associated with me (PPS number) but likely associated with a parents email. They get notified anyway if I win (won one €50 previously).

If I buy €1000 worth, can I do this online? It would be the first time I bought some. As my PPS number is already associated with another email would they get the notification of purchase or could I create a new account solely for this purchase and any future purchase?

Question too on unclaimed prizes - do they not now just invest any winnings into other prize bonds or do they still send out a €50 cheque?

cobham

Yes you can do online but limit of 2,500 if using a credit card. Best to fill out form from Post Office and get them to do all....but go when they are not busy as lot of faffing about. You need to bring ID (two items with photo) and some sort of utility bill or evidence that you live at a certain address.

Hibernicis

@cobham You cannot use credit cards for online purchase of PB, only Debit cards. There is no €2,500 limit - you are limited only by the maximum debit card transaction limit as set by your bank (or yourself in some cases). I purchased a number of €25k blocks earlier this year using a BOI debit card. The AIB limit is a lot lower.

@Ste91 I'd suggest you set up an online account, use this account to purchase your new bonds, and then get your existing bonds registered in your account. Then you will have everything in the one place. Setting you a state savings account is a bit of a palaver, but once it's in place it makes administering your bonds a lot easier. You can buy mode, sell some or all, and see a record of your winnings etc. and also if you change address it's much easier to manage.

There are no longer any cheques issued for wins; wins can be either (1) sent directly to your bank account or (2) you can have them issue additional bonds for the amount of the win. You indicate your choice on your online account, or on the paper form when purchasing.

Unclaimed prizes are held aside forever and may be claimed at any time.

Welcome to the world of prize bonds and best of luck.

cobham

Thks Hibernicis. My mistake, it was a IPTSB debit card and limit of 2,500 euro. I never realised there were such limits.

Hibernicis

https://www.boards.ie/discussion/comment/120891149#Comment_120891149

No problem. It's a confusing mess to be honest. I had an Ulster Bank Debit Card which had a default daily limit of €50,000 which was very flexible. When they pissed off I looked around and was amazed at the range among the alternatives. BOI's daily debit card limit is €25,000. AIB's is €7,100 (with an inner limit of €5,000 per transaction), and PTSB's is €2,500. The only conclusion I can come to is that the limits are a direct reflection of each's banks confidence in their own system security and fraud detection capabilities and is imposed to limit their liability in the event of fraud.

Mikefitzs

I'm just going to ask here for some advice, there's too many pages in this thread to do a specific search.

I have found old bonds from 1957 belonging to my deceased father, died 2012. Total £20 how would I find out the value now and can I cash them in?

carrickbawn

I have a bond issued to my late father dated 1980. 10 pounds. On the bottom left hand corner it says non transferable. I would never have imagined that my father would have bought these but I remember when some companies gave you bonds if you had an insurance policy or made some purchases from them. I think you only had them in your name for a year or some set time. Maybe I just dreamt that 💭. Does anyone else have any recollection of that.I have just kept mine as a souvenir.

cobham

No reason why you cant cash out old bonds. I had to do this on behalf of my late mother. They were 50 punts from 1994 and current value was about 62 euro. A form to fill out ( perhaps get at a post office?) and death cert or maybe it was probate grant and that was that but it took about 8 weeks.

Hibernicis

https://www.boards.ie/discussion/comment/120904608#Comment_120904608

They are worth their face value, £20 or €25.39. They are from the first series and were issued by BOI and are probably six digit numbers.

First thing you should do is to check and see if there are any unclaimed/uncashed prizes. You can do that using this page - scroll down to "Check My Numbers" making sure you check the unclaimed/uncashed tab.

https://www.statesavings.ie/prize-bonds

Then if you want to transfer them to your name you should follow the procedure here - its a bit bureaucratic but its what you need to do:

https://www.statesavings.ie/help-support/help-articles/initiate-deceased-case

Once they are in your name you can then cash them in, or retain them as they continue to participate in every weekly draw.

Hibernicis

https://www.boards.ie/discussion/comment/120904687#Comment_120904687

Generally speaking, some bonds and other financial instruments are transferable, some aren't. Not Transferable on Prize Bonds means you can't transfer ownership by crossing out the name and replacing it. In order to transfer them, you either go through the Prize Bonds Transfer procedure, or the Death Case Procedure, or the owner sells them, gives the money to you and you buy new bonds.

The name on the bond remains unchanged unless you go through one of the above procedures.

I do recall what you are talking about, but my recollection is that the bonds were held by the insurer and you got the benefit of the prizes. I don't believe that these bonds were issued to you or had your name on them.

So if you have bonds with your father's name on them they were his. However he obtained them ! Keeping them as a memento is a nice idea, and could give you a nice surprise some Friday. It might be an idea to look at getting them transferred to your name though. Just in case !!

pbwinner

Winnings on 28th July 2023: €0

Last win 7th July 2023: €50

Total winnings on €25k from Feb 2011 to date: €3300

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 5 = €250

2021: €50 x 1 = €50

2022: €50 x 1 = €50

2023: €50 x 1 = €50

dxhound2005

€50 for me today.

July count. The same 13 million bonds BDY to BEK in each of the 4 draws. Not including 1 x €500 won by these bonds.

Friday 07 89 wins. Highest BEA 13. Lowest BED, BEH, BEI 4 each.

Friday 14 66. BEE and BEJ 9 each. BEG and BEH 2 each.

Friday 21 70. BEH 9. BDZ 2.

Friday 28 82. BEK 10. BDY 3.

Highest overall BEE 32 (7,9,8,8). Lowest BEI 17 (4,5,4,4).

52 million bonds won 307 prizes, average per million 5.904. x 52 x €50 = €15,350. Divided by 62.5 to get what €100K would win in a year with the same luck equals €245.60. Nearest to 5 x €50.

John arse

Down to €70 k(cashed out €100k), nothing in july-nothing in 2023.

WhiteMan32

Winnings on 28th July 2023 on €111k: €50

Last win on 13th Jan 2023: €50

whispering1

A family member suggested to me at weekend that soon it might be a better option to cash in my bonds and put my money on fixed term deposit for a year. Rates are still low though. I think I would want 3 percent. Just wondering if any of ye are feeling same. I would be a bit old fashioned and go with one of the Irish Banks when and if it does happen.

Hibernicis

You might be a while waiting for any Irish bank to offer 3%, unless it's a term deposit. You will find more options if you consider online opportunities such as Raisin or BUNQ, but those come with their own issues. But I think a lot of people are thinking that way at present.

whispering1

Agree I might be waiting and would not mind tying up funds for 12 months but no longer. Not keen on Raisin or Bunq. Just think the Banks have these fab results but they do not seem keen to pass them on .Anyway am going to keep an eye from now on and may make a move.

Mantis Toboggan

https://www.boards.ie/discussion/comment/120925362#Comment_120925362

Take a look at trade republic.

dxhound2005

I'm keeping mine, but of course as part of my diversified "portfolio". I think it would be unusual for anyone to have all their money tied up in Prize Bonds.

Oscar Madison

https://www.boards.ie/discussion/comment/120831289#Comment_120831289

Because that's no one's business!