NS&I has explained the process to access a person’s Premium Bonds if you have power of attorney, after a woman wanted to access her mum’s funds to pay for her care home costs.
A woman called Rebecca contacted the savings provider over X to say: “My mum is in a nursing home with dementia. We need to cash in her Premium Bonds to pay for her care (currently £800 per week).
“We have power of attorney. How do we get her money out please? Is there a form to fill in?”
The provider responded to say they had sent her a direct message in response to her query. Express.co.uk contacted NS&I separately to ask what the process is.
The group said: “When someone has been appointed power of attorney for an existing Premium Bonds customer, the ‘attorney’ will need to register a certified copy of the document with NS&I.
“This can be done online, by phone or by post. Details will vary slightly dependent on the type of power of attorney and if it is registered in England and Wales, Scotland or Northern Ireland.
“NS&I provides a useful document, ‘Acting on behalf of someone else?’ which explains in detail the process for each NS&I account and the different types of power of attorney available.”
The document can be downloaded from the NS&I website here.
Another Premium Bonds customer recently contacted NS&I to ask about how they could claim 23 prizes, which they said they had never been notified about.
X user Anne Hodgkins contacted NS&I to ask how she could transfer over her winnings. The retired woman asked the group: “Your app informs me that I have 23 unclaimed prizes.
“I have input my bank account on the system. How do I initiate transfer of the prize money? I have never received any notification of these prizes.”
A representative said in response: “If you give us a call on 08085 007 007 and ask the AI assistant to transfer you to an agent, they will be able to get the prizes re-issued to your bank account.”
A person can check if they have any unclaimed prizes using the prize checker tool on the NS&I website. This allows a person to check for prizes from any of the previous monthly draws.
Individuals can also check if they have any prizes to collect using the app or with an Alexa-enabled device.
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