Dorset Residents Missing Out on £1m in Unclaimed Premium Bonds Winnings

More than £1 million in Premium Bonds prizes in Dorset have yet to be claimed, reflecting a common problem seen across the UK. As of August 2025, more than 2.5 million unclaimed prizes totaling over £100 million have been reported, with the South East and London regions leading in unclaimed amounts. In Dorset alone, 19,790 unclaimed prizes worth more than £715,000 await collection, including 18 prizes of £1,000 each.

Premium Bonds, introduced by the UK government in 1956 and managed by National Savings & Investments (NS&I), offer a unique savings option. Instead of earning interest, bondholders are entered into monthly prize draws, with prizes ranging from £25 to £1 million. For each £1 invested in Premium Bonds, the odds of winning are about 1 in 22,000.

Despite the appeal, many bondholders remain unaware of their winnings. Prizes are considered unclaimed if not cashed within 18 months, though there’s no deadline to claim them. This situation underscores the importance of regularly checking for unclaimed prizes, especially for those who may have moved or changed contact details.

We’ll explore how to check for unclaimed Premium Bonds, the significance of doing so, and how Dorset residents can ensure they don’t miss out on potential winnings.

What Are Premium Bonds?

Introduced in 1956, Premium Bonds are a government-backed savings product managed by National Savings & Investments (NS&I). Rather than earning interest, every £1 Premium Bond is entered into a monthly draw, with tax-free prizes that can range from £25 up to £1 million. The odds of winning are approximately 1 in 22,000 per £1 bond. This unique structure has made Premium Bonds a popular choice for savers seeking a blend of savings and the chance of winning prizes.

Overview of the Unclaimed Winnings in Dorset

As of the end of March 2025, Dorset residents held 332,240 Premium Bonds accounts with a combined value of £2.7 billion. Despite this substantial investment, over £1 million in prizes remain unclaimed. This includes numerous smaller prizes, as well as larger amounts that could significantly impact the financial well-being of the recipients. The reasons for these unclaimed prizes vary, including outdated contact information, individuals moving homes without updating their details, or simply forgetting about the bonds.

How to Check If You Have Unclaimed Bonds

The NS&I Prize Checker allows you to check if you have any unclaimed Premium Bonds. This tool allows you to check if you’ve won a prize in the last six draws. All you need is your holder number, which can be found on your Bond record or in your online account profile.

 If you don’t have an online account, you can also check by phone or by writing to NS&I directly. NS&I offers a tracing service to help locate lost bonds or accounts.

Importance of Claiming Winnings

Claiming your Premium Bonds winnings is crucial for several reasons. Even modest prizes can accumulate over time, helping to boost your overall financial security. Second, unclaimed prizes are considered unclaimed after 18 months, and while there’s no expiration for claiming them, it’s best to do so promptly to avoid potential complications. Lastly, regularly checking your bonds ensures that you don’t miss out on any winnings and helps keep your contact information up to date with NS&I.

Conclusion

Dorset residents, along with others across the UK, may be sitting on unclaimed Premium Bonds prizes worth over £105 million. By taking a few simple steps to check for unclaimed prizes, you can ensure that you’re not missing out on potential winnings. Remember, it’s important to keep your contact information up to date with NS&I and to regularly check your Premium Bonds to maximize your chances of winning.

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 Disclaimer:

This content is for informational purposes only and is not financial advice. Always conduct your research.