Prize Bonds are looking attractive alternatives to deposits

TomOC said:
Are all winnings posted out by cheque?
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There are three options on the application form:

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Update, I have both good news and bad news. The bad news is I was mistaken in my previous post, I actually won 5 x 50s in 7 weeks, not 5 x 50s in 6 weeks as I originally stated.

The good news that in today's draw I won 1 x 100 and 1 x 50. Nice result!

I'll post a screen grab from prizebonds.ie if I can upload it somewhere as this forum doesn't seem to allow attachments.
 
Hi. Is it safe to post Bond Certificate. I just checked on line and I won 50E today. I bought 1000E worth 6yrs ago. This is my first win. I thought they posted out cheques for small amounts. Thank You
 
redwood park said:
Hi. Is it safe to post Bond Certificate. I just checked on line and I won 50E today. I bought 1000E worth 6yrs ago. This is my first win. I thought they posted out cheques for small amounts. Thank You
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Not sure exactly what you're asking there. They do post cheques for small amounts but cheque takes a few days to arrive in the post. If you haven't changed address since you bought the PBs then you just need to wait for it.

I don't know what happens if you choose the option for automatic reinvestmemt or payment into a bank account. I imagine that you will receive some form of confirmation in the post.
 
redwood park said:
Hi. Is it safe to post Bond Certificate. I just checked on line and I won 50E today. I bought 1000E worth 6yrs ago. This is my first win. I thought they posted out cheques for small amounts. Thank You
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Yes they do post cheques out in the post,i dont know why they say you you have to sent in your bond on the Prize Bond website,maybe they mean for amounts over €1000 but they do not make this clear.

Pat
 
Hi "The Ghoul". Congrats on your winnings. It does say under your list of prizes shown above that you have to claim your prize by writing to Fexco enclosing your Bond Certificate. It said the same when I checked and I had won 50E. Why does it say that if it not necessary?. I just thought they had changed the rules. I will wait and see if cheque comes in post during the week.
 
Good point, redwood park, not sure why it says that. I think that webpage is also used for unclaimed prizes and if you have an unclaimed prize going back months/years, sending the bond to them is possibly the norm.

In your case I expect you will get a cheque, if you don't receive it by Wednesday or Thursday this week I would contact them.
 
For arguements sake, if there were no "prizes" in the prize bonds, isn't the net return almost the same as with traditional deposits based on current interest rates?
 
Just for the record. I got my 50E cheque this morning. Still cannot understand why they tell you to send in the Bond Cert when you check winning numbers on line. Thank you for taking the time to reply. Good luck to you all.
 
censuspro said:
For arguements sake, if there were no "prizes" in the prize bonds, isn't the net return almost the same as with traditional deposits based on current interest rates?
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Yes it is more or less equivalent. Other advantages include: you get paid as you win prizes, almost the equivalent of an "interest first" account. It's tax free and -- as far as anyone knows currently -- PRSI free... no need to file a tax return. Your money is 100% guaranteed by the Irish state, not a limited guarantee by a bank.

However, returns are not guaranteed. The degree of confidence that you will make an average return is strongly linked to the size of the investment. You can't get your money back in the first three months.
 
censuspro said:
For arguements sake, if there were no "prizes" in the prize bonds, isn't the net return almost the same as with traditional deposits based on current interest rates?
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What have I missed here? If there were no prizes, how is there any return, quite apart from the loss from inflation? S
 
Update I haven't won anything for 2 weeks (29th Nov and 6th Dec) but today (13th Dec) won one 100 euro prize :)
 
I haven't won anything since the 13th December :mad:

14 draws, 500 euro won on 100,000 = 1857 per year = 1.86%.

Obviously this does not include the insignificant amount of compound interest from the prizes I have reinvested elsewhere.
 
I came across some prizebonds just the other day from the 1950's which belonged to a relative. I checked them all online <6months and >6 months. Not a single win in nearly 60 years!! £IR 200 was a lot of money back then compared to the euro equivalent now, so this wasn't a good investment.
 
The Ghoul said:
I haven't won anything since the 13th December :mad:

14 draws, 500 euro won on 100,000 = 1857 per year = 1.86%.

Obviously this does not include the insignificant amount of compound interest from the prizes I have reinvested elsewhere.
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i havent won since 29th november,won €50 each draw for first 3 draws, then nothing, just seems a little odd,stll a bit exciting though checking them at 12 30pm every friday!

Pat
 
IsleOfMan said:
I have about €4k in Prize Bonds. I never "check" them. Should I be doing this? I thought that winners were notified?
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No if your address is the same address as on the prizebonds, you will be contacted.I think people run in to problems if they move house etc.
 
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