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<p>Since 2011, Premium Bonds holders have been able to have their prizes paid directly
into a UK bank account in their name. Since March 2020, <del class="ministerial">nearly
half a million</del> <ins class="ministerial">more than 750,000 </ins>customers have
switched from receiving paper warrants (cheques) to having their prizes paid directly
into their bank account or automatically reinvested. As of December 2020, 82.5% of
Premium Bonds prizes were either paid directly into a UK bank account or reinvested
back into Premium Bonds.</p><p>The decision by NS&I announced on 17 September
2020 to pay all Premium Bonds prizes direct to customers’ bank accounts was informed
by changing customer behaviours. It will make managing Premium Bonds prize distribution
quicker, more cost-effective and have a much lower environmental impact.</p><p>Paying
prizes directly to the customers bank account also reduces the proportion of Premium
Bonds prizes from going unclaimed.</p>
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