€25k invested in prize bonds

Hibernicis

https://www.boards.ie/discussion/comment/122170401#Comment_122170401

That's very disappointing. I would suggest that you persevere, frustrating and all as it may be. It's a one off and once you are registered it gives you useful access (particularly if you holding is a Sole holding) and greatly reduces the need to deal with their shambolic procedures and staff.

Furze99

https://www.boards.ie/discussion/comment/122171912#Comment_122171912

Yes of course you're correct regarding the overall structure. My observation is about how the digital system hangs together as regards the public and it's just laughable, like something from a former Soviet state in it's duplication and inefficiency. Has all the hallmarks of An Post management imho.

notsocutehoor

https://www.boards.ie/discussion/comment/122171927#Comment_122171927

The latest raft of documentation has made it to the green bin, I don't have enough years left to be spending a significant part of them dealing with those people. I presume I will still be informed of any prizes I win. I'd be tempted to fully cash out but that would probably be another nightmare.

tuisginideach

https://www.boards.ie/discussion/comment/122066538#Comment_122066538

€75 today - and the bond was 166 away from a winning bond on 25 April!

carrickbawn

€75 here too.

Hibernicis

€75 for me also

The Continental Op

Nothing on 5k

willycat

https://www.boards.ie/discussion/comment/122029795#Comment_122029795

Very late reply but as a quick reply to your comment, if you were referring to N26 and TradeRepublic, both have full EU banking licenses and both are covered by the German DGS for up to 100k euro. N26 has had an EU banking license for about 8 years. TR got it Nov 2023.

I do agree TR does not work as a bank even with this new EU banking licence, as its mainly a broker. But N26 is 100% a bank with the same exact banking capabilities than any other Irish bank. To be honest, way better as you can manage your N26 bank account / card way easier from the app than you can from any "normal" Irish bank.

I also agree that there's nothing wrong with having some PBs as a part of a diversified portfolio. I have some PBs too, but it is also obvious that the current rates being offered by PBs are miles away from the current interest rates in the Eurozone, and that there's better options around that are also safe and backed by the DGS.

dxhound2005

Looking at the ECB rates going back to 2008, it is only since late 2022 that deposit takers would be able to give rates like those seen now in some other countries. The Raisin thread on this forum started in February 2022, but only had one page by May 2023. It has been a lot busier since, and this sort of stuff is new territory for people in Ireland.

https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

Money doesn't have to be a machine for making more money. It is designed for spending, and whatever bit is left over when a person dies, they can pass it on to other people. Prize Bonds is only a tiny tiny fraction of all the money on deposit. And if some people through choice or inertia leave €100K or more sitting for years, no harm is being done.

All State Savings are part of the national debt. Never expect them to match the top of the market, or even close. They keep that element at around 10% of the total, and rely on other long term stable sources for the bulk of it.

Hibernicis

https://www.boards.ie/discussion/comment/122178186#Comment_122178186

I wasn't referring to N26. My post related to a post (#9293) from a different poster. I have no issue with N26, with whom I have banked for a number of years and to whom I have moved a substantial sum since they launched the 4% savings rate for metal card holders.

I wouldn't put my small change in the hands of Trade Republic with their dodgy escrow based omnibus account guarantee claptrap.

POBox19

Nothing.

There's no fun in waiting for something from PBs.

pbwinner

Winnings on 24th May 2024: €0

Last win 7th July 2023: €50

Total winnings on €25k from Feb 2011 to date: €3300

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: €50 x 1 = €50

2022: €50 x 1 = €50

2023: €50 x 1 = €50

2024: €0 x 0 = €0

dxhound2005

Nothing for me today. The €50K went to Galway, bond from August 2022. Very good chance that they got €75 as well.

Prize Value Winning Prize Bond Location

€50,000.00 BBI699720 Galway

€75.00 BBI703765 Galway

sk8board

it’s very hard to protect cash from inflation at the best of times.

Over the past 3-4 years, cash invested in PB, notice deposit, state savings, or any other cash instrument has lost about 10-12%, net.

Personally I prefer to have cash fully invested elsewhere in times of high inflation, even just something as generic and wide as a worldwide ETF; something that’s easy to liquidate if needed.

John arse

1 x€75 in April on €70k,2 x €75 in 2024.

John arse

https://www.boards.ie/discussion/comment/122170401#Comment_122170401

Tried to register around this time last year,got the first letter back and sent it off.Heard nothing after,rang sporadically every couple of months afterwards got the same bull about looking in to it-i'll pass your message on etc.Gave up eventually.It still says registration in progress (for me) on the website.I just check my online banking now to see that I haven't won anything.There's always the love letter as well I suppose. It seems to be a real Keystone Cop operation altogether!

jjmcclure

Considering putting 100k into prize bonds this week. Reading some of the posts above it seems to be a nightmare registering for the online portal.

I already have a good chunk invested in more traditional funds, and have a lump of cash sitting in the bank which is above the deposit guarantee scheme limit. Could be something to watch/look forward to on Fridays.

Is it worth the hassle?

The Continental Op

https://www.boards.ie/discussion/comment/122190158#Comment_122190158

Its not a nightmare its just a longer process than it really needs be. The nightmare bit is when you don't have mobile coverage at home. Just follow it through but expect it to be one to two weeks before you are registered online.

POBox19

https://www.boards.ie/discussion/comment/122190158#Comment_122190158

Yes because it gives you online access to all state Savings products, not just Prize Bonds. The process is a bit clunky, but it is a financial product and there are steps to go through which are necessary for identity and anti money laundering purposes.

I sometimes think that people relate back to the day when you could go into your local Post Office with saved up small change and buy a bond or two. Stick with it and you'll work through it.

Now, as to why you want to invest 100k in Prize Bonds is another question, but it will give you something to do on Friday afternoons.

The Continental Op

https://www.boards.ie/discussion/comment/122194065#Comment_122194065

You already go through an anti-money laundering process when you buy premium bonds. They already have your photo ID and proof of address when you signed up at the post office.

You don't need to be registered online to buy 100k in premium bonds or have a savings account.

dxhound2005

Sometime during the day on May 28th (I think) the panel with information about the Tracker was replaced with a panel to Register / Sign In. The message about the Tracker is still at the top of the page as I post this.

POBox19

https://www.boards.ie/discussion/comment/122194388#Comment_122194388

I appreciate that, but the question I was trying to answer was "Is it worth the hassle? ".

notsocutehoor

https://www.boards.ie/discussion/comment/122194065#Comment_122194065

If you compare trying to sign up for State Savings with signing up for Paddy Power, both financial institutions, both governed by AML controls, and other legal requirements to protect a customer's money, there is a slight difference, I've no idea how long State Savings ultimately takes (I gave up after a few weeks) but with Paddy Power it is probably 1 minute before you are up and running (and losing your money). There surely has to be a happy medium.

geographica

€75 win in 3 successive weeks, is that common?

Seve OB

just wondering if anyone knows procedure as I want to buy some €k of prize bonds

can't seem to do it online… thinking of going now at lunchtime to GPO

if I go to GPO can I buy them by bank transfer? AIB account.

do I need ID… would Drivers Licence do or does it need to be passport

Do I need anything else?

I have a few in a drawer at home from up to 30 years ago, talking maybe €200…

The Continental Op

I can't remember exactly but I provided my passport a bank statement and don't forget your PPS number. You can pay over the counter by card.

Seve OB

well can’t pay by card…. Over limit

Did you need proof of pps? Would email payslip do?

Online bank app work?

The Continental Op

https://www.statesavings.ie/media/pdf/prizebonds_application_form.pdf

Section 5 has your answer - yes proof of PPSN required.

I applied about 12 months back in the PO.

jjmcclure

Bought in today for €100k. In the post office they said it would take 3 weeks for the bonds to be active. Seems like a long time.

I provided

PPS number (Tax credit cert)

Bank Statement (within 5 months)

Drivers license

carrickbawn

That's crazy long time. Last ones I bought were up on my state saving page in about 5 0r 6 working days.