€25k invested in prize bonds

Bubbaclaus

vicwatson wrote: »

Is it still a €2,500 daily limit on buying online anyone know?

No idea about the daily limit on the website, but KBC have a daily limit of 2.5k on my debit card (and 10k for the week) which I found very annoying when buying bonds.

mairtmairt

Hi Guys forgive the stupid Q!! Looking for a crash course on it. How does this work say for example buy €500 I know Im in with a chance at each draw to win a prize. But say if I want to cash out my €500 at any stage be if 3 months 3 years or 30 years. So your €500 is guaranteed (however fingers crossed you may also win some prizes in the draw?) Thanks in advance

Bill Ponderosa

mairtmairt wrote: »

Hi Guys forgive the stupid Q!! Looking for a crash course on it. How does this work say for example buy €500 I know Im in with a chance at each draw to win a prize. But say if I want to cash out my €500 at any stage be if 3 months 3 years or 30 years. So your €500 is guaranteed (however fingers crossed you may also win some prizes in the draw?) Thanks in advance

Think you can withdraw it anytime after 3 months. With your bonds you're in with a chance every Friday. With that kind of money you should win 50 euros every 10 years or so. Money is guaranteed and there's no DIRT tax to worry about.

tuisginideach

Dirt tax????? No Dirt Tax on your holding

Hibernicis

vicwatson wrote: »

Is it still a €2,500 daily limit on buying online anyone know?

No, and I don't believe there ever was such a limit. Looking at the Prize Bonds Online purchase screen, it says Min 4 bonds and Max 40,000 bonds (€25 and €250,000 respectively). I suspect the limit you are referring to is your daily debit card limit which is determined by your bank. A number of Irish Banks have €2,500 daily debit card limits. I've purchased €50,000 worth of prize bonds online on a number of occasions using an Ulster Bank Visa Debit Card, and have purchased other state savings products online using a BOI debit card for amounts in the region of €10,000.

Taylor365

tuisginideach wrote: »

Dirt tax????? No Dirt Tax on your holding

Deposit Interest Retention Tax Tax

beertons

Can someone link to where you buy online?

Bill Ponderosa

beertons wrote: »

Can someone link to where you buy online?

https://www.statesavings.ie/prize-bonds

yabadabado

LawBoy2018 wrote: »

I put €750 into ETH today and I have already gained €60, in comparison to €0 from 7K worth of prize bonds haha. They're a great way of saving though.

Really no point comparing crypto to PB.Two totally different products.

vicwatson

Hibernicis wrote: »

No, and I don't believe there ever was such a limit. Looking at the Prize Bonds Online purchase screen, it says Min 4 bonds and Max 40,000 bonds (€25 and €250,000 respectively). I suspect the limit you are referring to is your daily debit card limit which is determined by your bank. A number of Irish Banks have €2,500 daily debit card limits. I've purchased €50,000 worth of prize bonds online on a number of occasions using an Ulster Bank Visa Debit Card, and have purchased other state savings products online using a BOI debit card for amounts in the region of €10,000.

Humble apologies that’s exactly what I meant

tuisginideach

nothing today

Andrew Flexing

Dry January continues.....

Jan XXXX

LawBoy2018

yabadabado wrote: »

Really no point comparing crypto to PB.Two totally different products.

I don't see any issue in comparing the returns of two investments.

PB2018

Wins on 22nd January 2021: €0
Last win: 18th December 2020: €50
Weeks since last win: 5
€134k invested in prize bonds since July 2017
Win ratio: 24 wins in 186 weeks (13%)
2017 (Jul-Dec): 5 x €50 = €250
2018 (Jan-Dec): 4 x €50 = €200
2019 (Jan-Dec): 5 x €50 = €250
2020 (Jan-Dec): 10 x €50 = €500
2021 (Jan-date): 0 x €50 = €0

pbwinner

Winnings on 22nd January 2021: €0
Last win 18th December 2020: €100
Total winnings on €25k from Feb 2011 to date: €3150
2011: €75 x 4 = €300
2012: €75 x 6 = €450
2013: €50 x 12 = €600
2014: €50 x 9 = €450
2015: €50 x 5 = €250
2016: €50 x 5 = €250
2017: €50 x 4 = €200
2018: €50 x 2 = €100
2019: €50 x 6 = €300
2020: €50 x 5 = €250
2021: €0

pbtracker

And still waiting on first win of 2021...

Winnings on 22nd January 2021: €0
Last win : €50 6th Nov 2020
Investment : €77K (from Aug 2020)
Winnings Total : €200
Pre 2020 : €50
2020 : €150
2021 : €0

Dtp1979

So prize bonds are basically a place to save money and any intrest you may gain is from winning prizes?

Hibernicis

Dtp1979 wrote: »

So prize bonds are basically a place to save money and any intrest you may gain is from winning prizes?

That is correct. Prize Bonds are a place to store or save money. Government guaranteed so you are assured that your capital is secure and will be repaid in full. The prize fund is currently .5% of the total invested, and in simple terms this can be viewed as .15% reserved for the larger prizes (which you have very little chance of winning) and the balance (currently .35% approx) for the €50 prizes. The larger your holding, the more likely you are to find your return to be in line with the .35% figure. So in summary a good place to securely store money but very unlikely to make you rich.

carrickbawn

tuisginideach wrote: »

nothing today

Same as that.

Dtp1979

Hibernicis wrote: »

That is correct. Prize Bonds are a place to store or save money. Government guaranteed so you are assured that your capital is secure and will be repaid in full. The prize fund is currently .5% of the total invested, and in simple terms this can be viewed as .15% reserved for the larger prizes (which you have very little chance of winning) and the balance (currently .35% approx) for the €50 prizes. The larger your holding, the more likely you are to find your return to be in line with the .35% figure. So in summary a good place to securely store money but very unlikely to make you rich.

And when you win is it reinvested or debited to your bank account?
Can you withdraw funds at any time?

Deub

I want to buy some prize bonds but looking at their website, it looks like they are still in the 90s. You have to print a form and some other documents (bills, etc) and go to a post office or send a letter. It would be great if they could allow opening an account online.

John arse

Dtp1979 wrote: »

And when you win is it reinvested or debited to your bank account?
Can you withdraw funds at any time?

either or,yes after 3 months

Dtp1979

Deub wrote: »

I want to buy some prize bonds but looking at their website, it looks like they are still in the 90s. You have to print a form and some other documents (bills, etc) and go to a post office or send a letter. It would be great if they could allow opening an account online.

Is it really that awkward to set up?

Hibernicis

Deub wrote: »

I want to buy some prize bonds but looking at their website, it looks like they are still in the 90s. You have to print a form and some other documents (bills, etc) and go to a post office or send a letter. It would be great if they could allow opening an account online.

It certainly is a pain (and you also have to send a cheque or Bank draft if you are doing this by post) BUT it's only for your first purchase. All subsequent purchases can be done on-line and are pretty painless, provided the system is working at the time.

Dtp1979

Hibernicis wrote: »

It certainly is a pain (and you also have to send a cheque or Bank draft if you are doing this by post) BUT it's only for your first purchase. All subsequent purchases can be done on-line and are pretty painless, provided the system is working at the time.

I have prizebonds from when I was a kid. Maybe 100 euro. Would that mean I’m On the system already and could start lodging? I wouldn’t have a clue what my account number is

Sligo Quay

Dtp1979 wrote: »

So prize bonds are basically a place to save money and any intrest you may gain is from winning prizes?

Yes that's basically it, today I had my first win of 2021, €50euro for me today on my 30k batch, I purchased the 30k batch in June 2016 and a total of 13 wins including today, total win on 30k €650.
My total holding is 4 batches 10k 20k 30k 40k, total wins to date 30, 2 wins from old bonds purchased in 1980s.

Deub

Dtp1979 wrote: »

Is it really that awkward to set up?

It is a pain. I wanted to do it this week when I realised that I needed this form, bills and proof of PPSN. I have all this..... online. I don't have a printer so I need to go somewhere where I can print all this which is not easy currently.

inxtrovert

I applied for/bought 10k of prize bonds last week in the post office - I too was surprised to find out you can't buy them online, what a pain especially now when it's hard to get access to a printer with everywhere closed.

If all you have to print out is the application form however, they should have them available in your post office. Also for proof of PPS number, if you have an old social services card lying around it should work, mine was out of date and they accepted it.

Got a letter today containing a receipt and my bond numbers - does anyone know if these bonds are entered into the draw as soon as they're issued or do they go live after the initial 90 day period?

Reason I'm asking is I had a look at today's draw and not only did I not win (no surprise there), I went through the first 50 pages of winners and did not see any bond number with the "AUX" prefix, which is what mine have. I'm pretty ignorant of how the whole thing works but it occurred to me that maybe AUX bonds were all issued this year so aren't live yet...

dxhound2005

Sort by Prize Bond Number. Go to pages 361/362, and you will see 11 AUX winners. There are also AUY winners, and two very early AUZ numbers are the newest winners this week.

11 winners out of the one million AUX (worth €6.25 million) is just above the expected average of 9. But I have seen as low as 2 and as high as 17. Over the course of 52 draws every one million bonds will come close to the expected average of 468 wins.

Taylor365

50 today!

Good start to the year, bucking the trend of the last 5!