£25 million investment winnings go unclaimed

Tuesday, November 15, 2005

National Savings and Investments (NS&I) has said that an astonishing £25 million worth of Premium Bond prizes is still unclaimed, with people forgetting their investment when they change address.

The government-backed savings provider says that most people who fail to profit from their investment winnings do so because they fail to tell their banks and other financial institutions that they have changed address.

"Many people are quite literally just walking away from their money when they move home," said Paul Knight, National Savings' head of sales development.

NS&I has introduced a tracing service over the last four years to enable people to be reunited with their investment and to see if the savings they originally bought the premium bonds with have landed them a prize.

"Many people do seem intent on closing their own savings gap and, increasingly, are turning to our free tracing service to help find their lost or forgotten money," Mr Knight said.

Premium Bonds are seen as somewhat of a risk-free investment - the customer can withdraw their savings at anytime - with the added bonus chance of a big prize of up to £1 million.

Interested in investing your money? Click here:
http://www.europinions-finance.co.uk/investments/investments
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